Invoice and Future Sales Discounting Manager
Invoice and future sales discounting manager
The Financial Group (UK) Ltd is a the holding company of a financing group with intentions to grow four or five separate lending businesses. Its lending will be entirely business targeted; it has no ambitions in consumer lending.
It already has a property lending subsidiary offering 1st and 2nd charge bridging and senior mezzanine financing for development. It has been operational for two months and already has an existing loan book of agreed and drawn-down loans in excess of £2m. It plans to increase the property business to £40m in the first year and £90m in the second.
It plans to open two new subsidiaries this year. The first will offer lease financing to the business market and the second is an invoice factoring business offering finance secured on existing invoices and future sales.
The company has backing from a strong equity partner providing over £10m of initial loan capital, with access to a further £15m of loan capital should it be required. The company also has a financing arrangement with a financial institution enabling it to refinance the majority of its loan agreements. This enables it to re-cycle its loan capital and grow to over £60m of total balance sheet in the first year.
The company’s principals have significant financial experience and have worked in a regulated environment for most of their careers. The company is currently regulated by the OFT, but will come within the supervision of the FCA in the near future.
It is now looking to recruit an Invoice discounting professional who will be responsible for building an invoice factoring and future sales discounting business. We have a potential partnership with a US based operator, which will provide much of the IT infrastructure and underwriting expertise for the future sales discounting side of the business.
The principals of the company have limited factoring/discounting experience, and will therefore be looking to this individual to provide the following:
Provide leadership and management for the invoice and sales discounting business,
To create the underwriting process, choose the appropriate IT system, oversee loan administration and lead on asset recovery post default,
Help to recruit and build the origination team.
The successful applicant will be in a senior position within an existing invoice factoring company or in a future sales discounting business. He or she should be able to demonstrate:
At least 10 years’ experience within the invoice/sales discounting market,
Strong entrepreneurial flair,
An ability to build and manage a stand-alone factoring/discounting business within a larger financing group.
The company has offices in Central London. It will offer market standard remuneration packages to include discretionary bonuses based upon success. It is hoping to start operations this year and therefore this appointment will commence in September.
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