Lighter Capital is a Seattle based fintech company that has created a new fundraising path for early-stage tech companies. Our transparent, data-driven, tech-enabled process provides entrepreneurs revenue-based financing quickly without making them give up equity or board seats. We work with hundreds of visionary startup CEOs each year and our products are truly disrupting the start-up finance industry.
We are growing and looking for a professional and experienced Special Assets Manager to join our Credit team. This position will work directly with clients to assess financial conditions and offer assistance while maximizing repayment prospects. This role will have a direct line to the Chief Credit Officer and work closely with Underwriting, Servicing, and Finance.
WHAT YOU’LL DO
Problem Loan Remediation
- Proactively reach out to under-performing borrowers on a regular basis for business check-ins (generally monthly, could be more frequent as needed)
- Assess borrowers’ financial condition to determine and recommend appropriate restructuring/remediation options to credit committee, with preferred win-win outcomes (i.e., assisting clients while maximize repayment prospects via intros to new financing options, early buyout proposals, and adjusted loan structures)
- Draft/negotiate legal docs as needed (along with counsel) for unsecured note agreements, forbearance, inter-creditor, etc.
- Track borrower communications and calendar follow ups; loop in colleagues as needed; and ensure full documentation for borrower files
Portfolio Impairment Decisioning
- Prepare monthly downrating and impairment proposals for credit committee
- Prepare quarterly portfolio summary including details summary of each troubled loan
- Work with the Technology team to build monitoring reports and alerts to manage portfolio and borrower-level risk
- Revise and expand downrating and impairment methodology (data-driven and mathematical)
Loan Portfolio Monitoring
- Analyze portfolio performance data utilizing internal monitoring software and Excel
- Narrow down full portfolio to identify troubled assets as early as possible
- Expand portfolio monitoring reporting suite and recommend additional data-driven approaches to assessing portfolio asset quality
DESIRED SKILLS & EXPERIENCE
- 5+ years’ prior commercial banking experience and proven problem loan work-out experience
- Detailed understanding of loan documentation and legal options (e.g., forbearance, foreclosure, note sale, bankruptcy)
- Friendly yet result-driven approach with clients to let them know we want to help but are serious about getting repaid
- Extremely organized, creative and collaborative both in external negotiations and internally with Underwriting team
- Existing network of business consultants, take-out sources, and legal counsel is nice to have
We are smart, passionate and ambitious group of professionals who love coming to work every day - we hope you will too! We offer competitive salaries, pre-IPO equity, 100% covered medical insurance for employee and dependents, ORCA passes and a well-stocked office just steps from Westlake Center and Pike Place Market.
Founded by Andy Sack, a Seattle-area entrepreneur and mentor to early-stage companies, Lighter Capital was one of the first lenders to use revenue-based financing to fund tech startups. Since 2012, we’ve provided over $110 million in growth capital to almost 250 startups.
Our goal is to revolutionize the business of startup finance and help founders maintain control of their companies—and their destinies. Check out more about how it works here