Factoring Relationship Manager
Commonwealth Capital, LLC - Lakeville, MN

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Commonwealth Capital provides small businesses with working capital by factoring their receivables. To find out more about our business please visit www.CommonwealthMN.com

Relationship managers are responsible for day-to-day operations with our clients. In the factoring industry, relationship managers are the primary point of contact for our clients and the first line of defense against losses. They typically have a background in commercial accounts receivable, accounts payable, bookkeeping, credit analysis, or credit management. The ideal candidate is someone who has a passion for helping small businesses and is motivated to help us grow as we continue to expand our business.

If you’re looking for something that offers variety, challenges, and the opportunity to work in a growing business, check us out:

  • Before lunch you’ll process payments received at our lockbox, applying cash to invoices that we have purchased. You will also receive new invoices from clients and decide which to buy. The steps in this process are data entry, verifying the invoice, researching the debtor, checking the debtor concentration, monitoring the aging of the customer’s accounts, and managing the client’s reserve account. Once you’ve made your decision, you’ll buy the approved invoices. Then, after lunch, you’ll have time to make past-due calls on invoices, help fund your clients based upon the invoices that have been purchased, or work on gathering the monthly compliance documentation from your clients.
  • You’ll help underwrite prospective clients, reviewing invoice documentation, performing UCC searches, preparing documents to be signed, as well as background checks and credit checks.
  • You’ll be a detective every time you talk to a client and their customers on the phone. If you think they aren’t telling the absolute truth or something sounds funny, you’ll discuss it with your supervisor. This is critical.
  • You need to be able to work well with a variety of clients and meet their individual needs. Every client is different which can give the job a good amount of variety. You need to be able to work with different personalities to meet their needs while gaining their trust. You’ll need to make sure each client is comfortable talking with you about their business and any issues that may come up. You will also need to keep detailed notes on each client and your interactions with them and their customers.
  • You’ll be a part of a collaborative office environment as you improve and develop new processes for things like receiving and verifying invoices, running credit checks, and processing UCC filings.
  • The ability to use and quickly learn new software and technology is essential. We’re talking about software like Microsoft Office suite, Google Apps, Box.com, Salesforce.com, and FactorSoft.
  • As part of a small business, you’ll often be working independently and structuring your own day, while allowing about 10-20% of your time to be spent assisting your coworkers and managing the office.

Interested but concerned that you don’t know the industry? Don’t worry, we can train you.

If you’re interested, please attach your resume and a cover letter explaining why you would be a good fit for this specific position by visiting http://Commonwealth.recruiterbox.com/jobs/15972 Commonwealth Capital does extensive background screening and fact-checking on candidates.

These skill sets and experiences typically translate well into a relationship manager:

  • Asset based loans / lending
  • Commercial loan assistant / closer
  • Bookkeeping
  • Accounts receivable
  • Accounts payable
  • Commercial past due / collections
  • Commercial credit analysis
  • Commercial credit management
  • Commercial credit underwriting

Required:

  • Passion for small businesses
  • High school diploma or equivalent
  • Ability to balance customer service with the company's credit standards
  • Extreme attention to detail

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