Head of asset recovery

About the Company:

Libertas Funding is an institutional-quality private credit firm headquartered in Greenwich, CT, providing growth capital, revenue-based financing, and working capital solutions to established small and medium-sized businesses nationwide. Backed by deep institutional banking and credit expertise, Libertas combines proprietary technology and disciplined underwriting with a relationship-first approach, serving as a long-term financial partner to middle-market businesses pursuing acquisitions, expansion, and other strategic growth initiatives. We seek qualified candidates who work with integrity and excellence, and who value teamwork, customer service, diversity, and accountability.

Position Overview:

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.

Key Responsibilities:

• Rapid Asset & Cash Flow Stabilization: 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.
• Forensic Cash Flow Analysis: 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.
• Tailored SME Restructuring: 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.
• Collateral Control & Liquidation: 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.
• Guarantor & Personal Asset Pursuit: Evaluates and aggressively pursues secondary repayment sources, including personal and corporate guarantors, utilizing asset searches to secure additional collateral or liens.
• Early Intervention Consulting: 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.
• Litigation & Post-Judgment Strategy: 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.).
• Portfolio Reporting & Compliance: 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.
• Leadership: 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.
• Coordination with Risk Stewards: 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.

Ideal Candidate Profile:

Experience: 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.

Underwriting Knowledge: 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).

SME Credit Expertise: Deep understanding of commercial cash flow dynamics, trade finance, factoring, and working capital cycles of businesses with revenues between $2M and $50M.

Niche Legal Knowledge: 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.

Forensic & Analytical Skills: 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.

Negotiation & Influence: 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.

Technical Tools: Advanced proficiency in Excel (for cash flow modeling and collateral liquidation scenarios) and presentation tools. Excellent written and verbal communication and presentation skills.

Self-directed & Accountable: Able to operate strategically and independently; able to influence and collaborate across teams and manage multiple priorities in a fast-paced environment.

Education: Bachelor’s degree in Business, Finance, or related field. 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.

Location:

This is an in-office role based in Greenwich, CT. Candidates must be local to the Greenwich/Stamford area or within a reasonable commuting distance to the office.

Salary Range:

$130K-$150K

Libertas Funding, LLC participates in E-Verify. Libertas Funding, LLC will not sponsor applicants for work visas for this position. Applicants must be currently authorized to work in the United States on a full-time basis. Libertas Funding, LLC provides equal employment opportunities to all applicants for employment and prohibits discrimination and harassment of any type with regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by the federal, state, or local laws. All employment at Libertas Funding LLC is contingent upon satisfactory reference and background checks.