Vice President of Asset Based Lending (Litigation Finance)

Job Description

About Us:

PROVE Partners, LLC, founded in 2003 and based in Las Vegas Nevada and Denver, Colorado, is a litigation finance company that provides financial products and innovative services to injury victims, medical providers and law firms in the United States.

PROVE operates three business lines, collectively aimed at satisfy the needs of injury victims and the medical providers and law firms that serve them

(i) Personal Injury Account Receivable Financing: PROVE purchases and lends against portfolios of medical receivables supported by personal injury negligence claims (e.g., motor vehicle collisions). PROVE funds episodic portfolio purchases as well as forward flow funding structures to medical providers of all modalities nationwide that treat personal injury patients and prefer upfront reimbursement vs. holding the receivables to maturity.

(Ii) Single Event Medical Funding: PROVE serves as an extension to personal injury law firms, helping ensure patients have a successful medical legal outcome. PROVE’s Case Managers and Care Coordinators work closely with law firm paralegals and case managers to help coordinate treatment with quality medical providers adept at treating patients involved in personal injury accidents. PROVE is a payor source for medical providers, acquiring medical receivables and holding them through to resolution of the personal injury victim’s legal matter.

(iii) Legal Funding: PROVE provides financing solutions to law firms, primarily lines of credit and non-recourse litigation cost advances, as well as pre-settlement advances for plaintiff’s to pay for living expenses while their negligence cases are being adjudicated.

PROVE maintains a fortressed balance sheet, supported by a group of institutional capital partners that manage more than $17 billion in assets under management.

PROVE is backed by C9 Partners, LLC, a Los Angeles-based private equity firm focused on making investments in US-based businesses at intersection of financial services, specialty finance, and healthcare services.Mission:

We help injury victims in their greatest time of need.Core Values:

PROVE Partners wants to make an IMPACT on the lives of the patients we help, the clients we work with, and the team we treasure.I = Innovate Daily

M = More…with Less

P = Pursue Growth and Learning

A = Accountability

C = Communication

T = Teamwork

Job Summary:

As a Vice President of Asset Based Lending, you will be primarily responsible for:

(i) Evaluating and screening new accounts receivable financing opportunities;

(ii) Completing comprehensive financial, corporate and guarantor due diligence;

(iii) Negotiating credit transaction structures and pricing; and

(iv) Overseeing portfolio credit performance and risk management.

Additionally, you will be responsible for:

(i) Sourcing new financing opportunities from current and potential referral sources including, hospital, ambulatory surgery centers, outpatient diagnostic centers, private physician practices, chiropractic and physical therapy practices, durable medical equipment providers, pharmacies, toxicology labs, and other healthcare providers that treat personal injury patients;

(ii) Managing and nurturing client relationships; and

(ii) Implementing process improvements and technology tools to streamline deal execution and heighten PROVE’s portfolio and risk management.

You will visit prospective clients and attend regularly scheduled meetings.

This key position reports to the Head of Asset Based Lending.

This is a remote role.Job Duties:

Sourcing

Market to current and potential referral sources including, hospital, ambulatory surgery centers, outpatient diagnostic centers, private physician practices, chiropractic and physical therapy practices, durable medical equipment providers, lien based pharmacies, toxicology labs, and other healthcare providers that treat personal injury patients; and

You will also visit prospective clients, as well as produce reports needed for new prospects and attend regularly scheduled meetings.

Deal Execution & Underwriting

Evaluate and manage a pipeline of new credit opportunities;

Oversee financial due diligence, including analyzing accounts receivable portfolio concentration and developing static pools, collection curves, and financial projections;

Oversee corporate and principal guarantor due diligence;

Draft term sheets and credit proposals;

Negotiate credit structures and pricing within defined guidelines;

Draft investment committee memos and present opportunities for approval;

Negotiate legal agreements; and

Facilitate asset boarding, funding and treasury.

Portfolio Management

Monitor portfolio performance and covenant compliance ; and

Develop risk management and portfolio exposure management programs.

Relationship Management

Establish and nurture strong relationships with clients to foster long-term partnerships with referral sources, including third-party originators and brokers.Job Qualifications:

7+ years of direct experience in structuring, underwriting, and executing asset-based credit transactions

Bachelor's degree required

Ability to interpret financial and budgetary documents

Strong financial analysis skills

Experience negotiating financing structures and legal agreements

Advanced skills in Microsoft Excel, Word, and PowerPoint; experience with Salesforce a plusIdeal Candidate Character Traits:

Well spoken, likeable professionals that can communicate effortlessly over the phone or in person

Ability to thrive in a fast-paced, target-driven environment

Determined professionals with a strong work ethic and ability to consistently work diligently

Disclosures:

Prove Partners is an Equal Employment Opportunity and Affirmative Action Employer committed to diversity in the workplace. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status.

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