Senior Factoring Underwriter & Credit Specialist

About the Role: We are seeking an experienced Senior Factoring Underwriter & Credit Specialist with direct, hands-on expertise in accounts receivable (A/R) factoring. In this role, you will lead the credit evaluation, risk structuring, and day-to-day portfolio oversight of invoice factoring facilities for high-growth e-commerce, CPG, and B2B wholesale businesses.

This role is specifically tailored for an expert who understands the operational, legal, and credit nuances of invoice factoring. Beyond analyzing classic financial statements, you will evaluate debtor creditworthiness, verify invoice authenticity, establish debtor credit limits, manage dilution risk, and ensure proper perfection of security interests (comprehensive UCC lien searches, UCC-1 filings, Notices of Assignment, and tri-party lockbox accounts). You will also collaborate cross-functionally with Product, Operations, and Risk teams to automate factoring workflows and shape the next generation of our working capital platform.

What You'll Do:

• Factoring Credit Underwriting: Underwrite prospective client factoring facilities and establish credit limits on individual account debtors using credit agency reports (D&B, Experian, CreditSafe), payment trends, trade references, and financial statements.
• UCC Search Analysis & Lien Perfection: Thoroughly read, interpret, and evaluate UCC lien searches, tax lien reports, and judgment filings; identify senior or conflicting security interests (blanket liens, inventory lenders, equipment PMSIs); and coordinate lien releases, terminations, subordination agreements, and intercreditor deeds to guarantee a first-priority position on factored accounts receivable.
• Invoice Verification & Collateral Analysis: Review and verify invoices, purchase orders, bills of lading, and proof of delivery prior to funding; assess debtor concentration, aging trends, and customer dispute risk.
• Dilution & Reserve Management: Model and monitor dilution factors (chargebacks, trade discounts, returns, co-op advertising offsets) to set appropriate advance rates and reserve holdbacks.
• Legal & Perfection Controls: Oversee UCC-1 financing statement filings, continuous lien maintenance (amendments/continuations), Notice of Assignment (NOA) deliveries, and lockbox/account control agreements (DACA).
• Portfolio & Debtor Monitoring: Track ongoing portfolio collections, remittance trends, daily lockbox reconciliations, aged accounts receivable, unapplied cash, and early warning signs of borrower or debtor distress.
• Product Collaboration: Partner directly with Product, Engineering, and Risk Operations teams to translate manual factoring operations, lien checking, and verification logic into scalable, automated fintech software features.
• AI-Driven Efficiency: Leverage AI tools (ChatGPT, Claude, Gemini) to accelerate credit memo generation, extract data from complex debtor agreements, and streamline verification audit trails.

What You’ll Need:

• Direct Factoring Experience (Mandatory): Minimum of 3+ years of direct, hands-on commercial accounts receivable (A/R) factoring underwriting experience (recourse or non-recourse) within a commercial finance company, factoring house, bank factoring division, or specialized fintech. (Note: Standalone MCA, revenue-based financing, or general unsecured lending experience will not satisfy this requirement.)
• UCC Lien Analysis & Perfection Expertise: Proven ability to read and interpret complex UCC lien search reports, identifying prior blanket liens, purchase money security interests (PMSIs), tax liens, and active encumbrances to structure lien releases, subordination agreements, and intercreditor deeds under UCC Article 9.
• In-Depth Debtor Analysis: Demonstrated track record in evaluating Account Debtor risk, setting debtor-level credit limits, and handling credit insurance policies.
• Verification & Operational Rigor: Thorough understanding of invoice verification methodologies, assignment procedures, lockbox structures, and dispute resolution.
• Financial & Analytical Skills: Strong credit fundamentals, including balance sheet and P&L analysis, cash-flow modeling, and detailed A/R aging schedule dissection.
• Fintech & Product Orientation: Desire to modernize legacy factoring processes and work alongside engineering teams to build automated underwriting and verification workflows.
• Tech & AI Proficiency: 1+ years of practical experience using Generative AI tools (e.g., ChatGPT, Claude, Gemini) to optimize analytical and administrative workflows, along with proficiency in MS Excel/Google Sheets, SQL, and core factoring software platforms.

Candidate Experience Benchmark: Directly Qualifying Experience
(Required)Non-Qualifying Experience
(Does Not Meet Role Scope)

• 3+ years of direct commercial invoice factoring underwriting (recourse and/or non-recourse).
• Account Debtor credit underwriting and setting debtor credit lines.
• Invoice verification, pre-advance audits, and confirmation calls/estoppels.
• Notice of Assignment (NOA) management and dominion of funds via lockboxes.
• Detailed Dilution analysis (returns, allowances, credit memos, co-op deductions).
• Reading, interpreting, and clearing comprehensive UCC lien search reports, identifying prior blanket liens, PMSIs, and tax encumbrances.

• Merchant Cash Advance (MCA) underwriting based solely on bank statement cash flows or credit card receivables.
• Revenue-Based Financing (RBF) or daily/weekly ACH repayment products.
• Broad Asset-Based Lending (ABL) relying strictly on blanket borrowing bases without invoice-level debtor verification.
• Consumer credit or unsecured small-business term lending.

Compensation: This role offers an annual base salary range of $95,000 - $119,000 + equity + benefits. Actual compensation will be determined by various factors, including your skills and experience.

Work Authorization: At this time, Settle is unable to sponsor or take over sponsorship of employment visas. Candidates must be authorized to work in the United States without current or future sponsorship.

Benefits & Perks That We Offer: Flexible PTO, flexible and remote work culture, competitive compensation and equity, health, dental, and vision coverage for you and your dependents, 401k, HSA/FSA, and an Employee Referral Program!

Our Commitment to You: At Settle we know that cultivating diversity and fostering an inclusive work environment is critical to our impact and success. We create an environment where no individual is advantaged or disadvantaged because of their background. We offer equal opportunity employment regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability status, age, marital status, or protected veteran status.