Asset-Backed Funding Recovery Leader

The mandate

A warehouse lender rejected part of the borrowing base after receivable eligibility, documentation and delinquency status disagreed across origination, servicing and collateral reports. The breach narrowed funding headroom and exposed reliance on one facility precisely as originations seasonally rise. The treasurer left during lender negotiations, creating a twelve-month executive gap while the company repairs evidence, protects liquidity and diversifies funding.

The interim leader will establish loan-to-funding lineage from application and contract through collateral eligibility, advance, payment, delinquency, modification, recovery and release. Work includes daily headroom, borrowing-base controls, cure prioritisation, draw and repayment decisions, lender communication, concentration scenarios and alternative facility readiness. Credit and accounting officers retain their policies, but treasury must see how operational state changes cash capacity.

A permanent structured-funding executive will be appointed by month seven and own the final lender review plus one stressed borrowing-base simulation. Handover requires the successor to dispute an exclusion with evidence, choose a draw under concentration constraints and present a diversification recommendation. The transfer includes facility economics, collateral semantics, covenant calendars, data lineage, lender positions, operational cures and residual ineligible cohorts.

The seat can direct treasury funding, set collateral-reporting evidence, prioritise data and operational cures, draw or repay inside authorised facilities, pause origination recommendations through governance and negotiate non-binding operating matters. It cannot change credit policy, modify borrower terms, sign a facility, certify accounting, waive consumer protections, approve loan sales, accept covenant breaches or communicate unauthorised legal positions.

The remit excludes serving as credit head, servicer, legal counsel or permanent finance chief. Success means borrowing bases are reproducible, eligibility moves predictably with loan state, liquidity survives stress, funding concentration falls and the successor can lead lender decisions. Headroom created by unsupported loan reclassification or delayed delinquency recognition will not count as recovery.

Why this seat is open

The facility breach proved that treasury relied on collateral reports without owning the operational facts beneath them. Leadership departure left lenders seeking confidence before a permanent search can conclude. Temporary authority is required to repair line-of-sight from receivable to cash, make near-term draw decisions and test a successor through real lender and concentration choices.

What you will own

• Trace each financed receivable through contract, eligibility attribute, advance, payment, delinquency, modification, recovery and collateral release.
• Reconcile borrowing-base files to servicing state, general ledger, bank draw, lender report and retained legal evidence.
• Establish daily headroom with advance rates, reserves, concentration, exclusions, cure timing, covenant and cash forecast.
• Prioritise data, documentation and operational cures by recoverable funding, borrower consequence, effort and deadline.
• Model origination, delinquency, prepayment, recovery, lender haircut and facility withdrawal scenarios for funding capacity.
• Lead lender evidence reviews and alternative-funder readiness while preserving authorised negotiation and signing boundaries.
• Induct the successor through dispute and draw decisions and transfer facility economics, calendars and residual weaknesses.

Candidate qualifications

• Has led warehouse and asset-backed funding for auto, consumer or specialist receivables through a borrowing-base breach.
• Understands eligibility, advance rates, reserves, concentration, delinquency, modification, collateral reporting and covenant mechanics.
• Can reconcile servicing state to lender and cash evidence at loan level rather than relying on aggregate certificates.
• Has diversified funding under time pressure without disguising weaker economics, collateral diligence, operational readiness or unresolved legal constraints in alternatives.
• Has balanced origination appetite and liquidity capacity while keeping credit and consumer-policy authority independent.
• Demonstrates permanent treasury succession through live lender challenge, draw, collateral cure and concentration decisions before departure under committee observation.

Non-negotiables

• Will work onsite in Toronto and attend every facility review and both borrowing-base stress rehearsals.
• Must disclose relationships with warehouse lenders, securitisation investors, servicers, advisers and auto-finance competitors.
• Brings asset-backed funding recovery with loan-level evidence; general corporate refinancing alone is insufficient.
• Will not manufacture headroom through unsupported eligibility, delayed delinquency or hidden covenant assumptions.

1. 49 words maximum. Which servicing-state mismatch most often turns an apparently eligible loan into excluded collateral?
2. 49 words maximum. How would you prioritise borrowing-base cures without distorting borrower or credit treatment?
3. 49 words maximum. What lender decision must the permanent funding executive own before handover?