Loss Mitigation Supervisor

Location: Los Angeles, CA

Department: Credit

Type: Full Time

Min. Experience: Mid Level

THE COMPANY

FastPay is finance reimagined to meet the needs of hyper-growth digital industries. We are a collection of finance, entertainment, legal, media, technology, and design professionals providing innovative credit solutions to the most exciting companies in digital. Headquartered in Los Angeles, we have offices in New York, San Francisco, and London. At FastPay, we like to think we look more like our clients than a traditional finance firm and a trip to any of our offices will confirm our unique culture. 

 

THE OPPORTUNITY

To date, FastPay has funded over $1.5B in loans across thousands of publishers, networks, exchanges, DSPs, SSPs, agencies and developers but this is just the beginning. Since 2009, we have seen enviable organic growth as our product has caught the interest of key players in the digital media industry. This year, we are building out our credit team to support the next phase of hyper-growth. 

 

THE ROLE

Strong candidates for the Loss Mitigation role will have excellent communication skills, experience in commercial lending and loan workouts and formal credit training is preferred. The role will report to the Director of Portfolio Management and will play a support role to the Portfolio Management and Operations Teams as well as our Legal Department.

Responsibilities include:

  • Manage a portfolio of distressed and/or defaulted clients which includes individual loan workouts
  • Coordinate with principal in the event of insolvency to facilitate a smooth transition
  • Oversee borrowers loan obligation and provide payoff updates when necessary
  • Think strategically to ensure repayment occurs in the most timely and efficient manner
  • Assess and negotiate repayment ability such as Forbearance Agreements
  • Provide updates to senior management and legal department
  • Track and monitor write-offs and recoveries
  • Must be sensitive to the nature of distressed borrower situation and maintain a professional disposition while firmly setting expectations and often times delivering difficult information 

 

REQUIREMENTS

  • Bachelor’s Degree in Business Administration, Finance or relevant work experience
  • 5+ years professional experience managing commercial loans
  • Client handling experience and comfortable with escalation and resolution
  • Excellent verbal, written communication and presentation skills
  • Efficient and effective problem solving skills
  • Strong prioritization and time management skills, attention to detail
  • Self-starter with a passion for growth and success and desire to contribute to team culture
  • Strong negotiation skills preferred
  • Some financial analysis

 

WHAT’S IN IT FOR YOU?

The opportunity to work with a dynamic team to fuel FastPay’s growth
Enormous exposure to the ever-growing digital media and technology space
Mentorship from an experienced team
Competitive Salary, benefits, Matching 401k, and Stock Options
Catered lunches, team building events, onsite career coach, guest speakers & more

 

 

 

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