Head of Asset Recovery

Libertas Funding•Greenwich, CT

1d•$130,000 - $150,000•Onsite

About The Position

The Head of Asset Recovery leads the end-to-end resolution of problem loans, developing and executing recovery strategies that protect principal and maximize outcomes through restructuring, settlement, liquidation, or exit. This role conducts detailed borrower and guarantor financial analysis, recommends risk grade/accrual and loss recognition actions, and negotiates and documents workout arrangements while monitoring ongoing performance. The position also oversees collection-related litigation and post-judgment efforts, coordinates collateral evaluation and disposition, partners cross-functionally (Legal, Credit/Loan Policy, Loan Operations, Compliance) and provides portfolio reporting and leadership to the asset recovery department.

Requirements

7+ years of commercial loan workout, asset recovery, or specialized SME lending experience, with a heavy emphasis on C&I and asset-based lending (ABL) or short-term commercial credit
5–7 years of commercial underwriting experience, specifically working with asset-backed structures, UCC-1 filings, blanket liens, and borrowing base monitoring. Strong credit and financial analysis skills; solid understanding of commercial credit structures and loan policy (formal credit training preferred)
Deep understanding of commercial cash flow dynamics, trade finance, factoring, and working capital cycles of businesses with revenues between $2M and $50M.
Strong grasp of the Uniform Commercial Code (UCC) Article 9 (Secured Transactions), commercial collection laws, guarantor liability, and corporate bankruptcy (Chapters 7 and 11) proceedings.
Advanced proficiency in evaluating asset aging reports, verifying collateral validity, and identifying creative recovery avenues under adverse conditions. Proven ability to develop solutions in complex or adverse situations using sound judgment, critical thinking and problem-solving skills
Proven track record of high-stakes negotiations with distressed business owners, corporate attorneys, and competing creditors. Experienced working directly with clients, counsel and third-party service providers; skilled in negotiation and relationship management
Advanced proficiency in Excel (for cash flow modeling and collateral liquidation scenarios) and presentation tools. Excellent written and verbal communication and presentation skills.
Able to operate strategically and independently; able to influence and collaborate across teams and manage multiple priorities in a fast-paced environment

Nice To Haves

Formal Bank Credit Training program graduate highly preferred
Paralegal certification preferred
Certified Turnaround Professional (CTP) or relevant legal/paralegal certification is a strong plus
An equivalent combination of education and/or relevant professional experience may be considered in lieu of a degree

Responsibilities

Immediately analyzes distressed SME business operations to evaluate the true conversion cycle of short-term collateral (accounts receivable, inventory, and equipment) to determine the optimal recovery strategy (turnaround, restructure, settlement, liquidation, or exit) maximizing financial recovery
Collects and forensic-analyzes bank statements, accounts receivable aging reports, tax filings, and corporate financial statements to identify diverted cash, unbooked liabilities, or preferential payments; recommend accrual status, loss recognition, and charge-off/non-accrual as appropriate
Negotiates and structures short-term forbearance agreements, borrowing base adjustments, and accelerated repayment plans that align with the borrower's seasonal cash flow realities without over-extending bank risk; monitor compliance and performance against agreed terms.
Directs the rapid inspection, valuation, protection and liquidation of non-real estate collateral. Implements lockbox arrangements, direct debtor notifications (for accounts receivable redirection), or asset seizures where necessary.
Evaluates and aggressively pursues secondary repayment sources, including personal and corporate guarantors, utilizing asset searches to secure additional collateral or liens.
Partners with frontline SME lending teams to identify early warning signs of deteriorating liquidity (e.g., overdraft patterns, frequent loan extensions, trade payment delays) to mitigate / minimize losses before default.
Coordinates with outside legal counsel providing supporting documentation, reviewing and approving legal invoices, and coordinating responses to execute rapid legal remedies such as temporary restraining orders (TROs), writs of attachment, confessions of judgment, and post-judgment garnishments. Attend and support legal proceedings as required (hearings, depositions, trials, etc.)
Prepares specific impairment analyses, criticized asset reports, and charge-off recommendations for senior management. Ensures all workout strategies comply with internal credit policies and banking regulations. Communicate regularly with Senior Leadership, including formal portfolio reporting as required.
Acts as a subject matter expert and mentor to junior workout specialists on the unique risks inherent to asset-backed commercial lines of credit and short-term debt structures.
Partner with Legal, Compliance and Credit/Loan Policy to ensure negotiated workout agreements and recovery actions remain compliant with internal policy and applicable requirements
Perform other related duties as required