Portfolio Manager, Asset Based Lending

About the role

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream. The Portfolio Manager, Asset Based Lending plays a critical role in supporting disciplined growth while protecting the bank's balance sheet across complex, collateral driven credit relationships. This role acts as a senior liaison between the Asset Based Lending team and the Credit function, ensuring that deal structures, portfolio risks, and emerging issues are clearly understood, well documented, and effectively communicated. This role provides people leadership within the Asset Based Lending portfolio management function, supporting the performance, development, and engagement of assigned team members. The position is designed for an experienced Asset Based Lending professional who brings deep technical expertise, strong risk instincts, and the credibility to influence credit outcomes through thoughtful analysis and clear presentation. This role elevates credit quality by anticipating risks, framing solutions, and partnering closely with Credit leaders throughout the lifecycle of each relationship. Portfolio and Risk Management Serve as primary portfolio manager for a complex Asset Based Lending portfolio with elevated structural and collateral complexity. Perform detailed financial, cash flow, and collateral analysis across accounts receivable, inventory, equipment, and related asset classes. Monitor borrowing base reporting, field exam results, covenant compliance, and early warning indicators. Identify emerging risks and performance trends, escalating concerns with clear risk framing and recommended paths forward. Support remediation planning and enhanced monitoring strategies for higher risk or deteriorating relationships. Deal Structuring and Credit Partnership Partner closely with origination teams to support new transactions, renewals, amendments, and restructures. Prepare and present comprehensive deal structures, risk assessments, and mitigation strategies to Credit partners and approval committees. Act as a key liaison to the Credit function by translating complex deal dynamics into clear, decision ready materials. Collaborate with Credit to address feedback, refine structures, and gain alignment on risk approach, without holding direct approval authority. Ensure all proposed structures comply with credit policy, regulatory expectations, and portfolio risk appetite. People Leadership and Team Development Provide day to day management, coaching, and feedback for assigned analysts or related team members. Support onboarding, training, and skill development to ensure consistent application of Asset Based Lending risk standards and portfolio practices. Set clear expectations for work quality, timelines, and risk discipline, while promoting accountability and continuous improvement. Contribute to performance discussions, development planning, and talent progression in partnership with leadership. Cross Functional Collaboration Work closely with Loan Operations, Field Exam, Legal, Treasury, and Credit Administration to ensure effective execution and ongoing monitoring. Represent the Asset Based Lending team in cross functional discussions related to credit risk, documentation, and portfolio performance. Influence outcomes through technical expertise, preparation, and credibility rather than formal authority. Process Improvement and Expertise Leadership Identify opportunities to strengthen Asset Based Lending portfolio management, underwriting support, and monitoring practices. Contribute to the development and reinforcement of best practices within the Asset Based Lending function. Provide informal mentorship and technical guidance to less experienced team members. Support onboarding and knowledge sharing related to Asset Based Lending credit risk and portfolio oversight. Serve as a subject matter resource for the team by sharing knowledge, lessons learned, and practical guidance in complex situations. Required Experience Bachelor's degree in Finance, Accounting, Business, or a related field or equivalent progressive experience, recognizing that advanced technical expertise in Asset Based Lending is often developed through years of specialized, hands on credit, underwriting, and portfolio management experience. Eight or more years of progressive experience in Asset Based Lending, Commercial Services, or Specialty Finance. Demonstrated experience managing complex A