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Factoring Jobs in Chicago, IL (NOW HIRING)

Factoring Operations Specialist

Chicago, IL

$50K - $65K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

This position reports to the Factoring Operations Specialist, Team Lead. What You'll Do * Work closely with fellow Factoring Operations Specialists to process daily WRF client cash receipts ...

Factoring Operations Specialist

Chicago, IL · On-site

$50K - $65K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

This position reports to the Factoring Operations Specialist, Team Lead. What You'll Do * Work closely with fellow Factoring Operations Specialists to process daily WRF client cash receipts ...

Senior Financial Analyst, FP&A

Chicago, IL · On-site +1

$104K - $119K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

About Team / Role WEX is currently seeking a self-driven and motivated Financial Analyst to join the Over-The-Road and Factoring FP&A Team. This role is flexible for a remote or hybrid working ...

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Our AI-integrated TMS, vetted carrier network, in-house factoring, and compliance infrastructure mean you're never bogged down in back-office work. You sell and serve; we support and scale. And we're ...

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Factoring information

See Chicago, IL salary details

$19.6K

$79.7K

$116.5K

How much do factoring jobs pay per year?

As of Aug 14, 2026, the average yearly pay for factoring in Chicago, IL is $79,701.00, according to ZipRecruiter salary data. Most workers in this role earn between $63,400.00 and $86,100.00 per year, depending on experience, location, and employer.

What are factoring companies?

Factoring companies buy invoices and accounts receivable from other businesses and then undertake the collection process. They often pay only a fraction of the value of an invoice, as companies are often willing to sell at a loss to maintain cash flow and finance strategic business initiatives. Factoring companies are active in a variety of industries, and a corporation can benefit from factoring for several reasons. For example, staffing companies sometimes use factoring to remain solvent while awaiting payment from their clients, while tech companies may use it to generate funding while a project is in development.

What are the main challenges faced by professionals working in factoring operations, and how can they prepare for them?

Professionals in factoring often face challenges such as evaluating client creditworthiness, managing cash flow risks, and maintaining strong client relationships. The role requires careful attention to detail and the ability to quickly assess financial documents. To excel, candidates should develop strong analytical skills, stay current with regulatory changes, and be proactive in communication with both clients and internal teams. Building expertise in risk management and negotiation also helps in overcoming day-to-day obstacles.

What is the difference between Factoring vs Accounts Receivable Specialist?

AspectFactoringAccounts Receivable Specialist
Primary RolePurchasing receivables from businesses to provide immediate cashManaging and collecting outstanding customer invoices
CredentialsNo specific certifications required, but financial knowledge helpsAccounting or finance certifications often preferred
Work EnvironmentFinancial institutions, factoring companiesCorporate finance, accounting departments
Industry UsageFinance, lending, factoring servicesBusiness, finance, accounting sectors

Factoring involves purchasing receivables to improve cash flow, while Accounts Receivable Specialists focus on managing and collecting invoices. Both roles are essential in financial operations but serve different functions within the cash flow management process.

What is factoring in finance?

Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third party, called a factor, at a discount. This allows the business to quickly receive cash, rather than waiting for customers to pay their invoices. Factoring is commonly used by companies that need to improve cash flow or manage operations when customers have long payment terms. The factor assumes the responsibility of collecting payments from the business's customers. Factoring can be a useful tool for small and medium-sized businesses to meet short-term financial needs.

What are the key skills and qualifications needed to thrive as a factoring specialist, and why are they important?

To thrive as a Factoring Specialist, you need solid knowledge of finance, accounts receivable management, and risk assessment, typically backed by a degree in finance, accounting, or business. Familiarity with factoring software platforms, credit analysis tools, and financial reporting systems is often required. Strong analytical thinking, attention to detail, and effective client communication skills help you excel in client relations and fraud prevention. These skills ensure accurate evaluation of receivables, minimize risk, and support efficient cash flow solutions for clients.

What are the most commonly searched types of Factoring jobs in Chicago, IL?

The most popular types of Factoring jobs in Chicago, IL are:

Infographic showing various Factoring job openings in Chicago, IL as of August 2026, with employment types broken down into 90% Full Time, and 10% Part Time. Highlights an 80% In-person, and 20% Remote job distribution, with an average salary of $79,701 per year, or $38.3 per hour.

Factoring Operations Specialist

Wintrust

Chicago, IL

$50K - $65K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 9 days ago


Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

71st of 171 rated banks


Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."

Why join us?

  • An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years)

  • Competitive pay and annual discretionary bonus eligible

  • Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few

  • Family-friendly work hours

  • Promote from within culture

The Wintrust Receivables Finance Factoring Operations Specialist works closely with their fellow operations team members to manage all daily cash applications and related responsibilities for the entire WRF client portfolio. This position reports to the Factoring Operations Specialist, Team Lead.

What You'll Do

  • Work closely with fellow Factoring Operations Specialists to process daily WRF client cash receipts accurately and efficiently in accordance with established turn-around times

  • Follow established WRF operations policies and procedures for all facets of the Operation Specialist job functions

  • Escalate payment posting issues and/or client questions to applicable WRF client lead and/or team lead in a timely manner for a prompt resolution

  • Serve as the primary operations contact for assigned clients

  • Maintain an effective line of communication with the applicable operations client lead, team lead, and portfolio manager to alert of any payment issues, irregularities or unusual trends observed in performing routine job duties

  • Maintain a professional and courteous manner with all WRF clients including assisting clients by answering questions and resolving problems promptly

  • Ensure incoming client emails are put into the correct processing queue and client information is saved properly on the server

  • Adhere to Bank compliance policies and procedures

  • Performing all other duties as required

Qualifications

  • Associate's degree in accounting or related field; Bachelor's degree a plus

  • Up to 5 years of Factoring, Banking and/or Asset Based Lending operations experience

  • Must be detail focused and well organized with the ability to multi-task

  • Strong interpersonal and customer relation skills required for working with clients and department personnel

  • Proactive and confident communication skills (both verbal and written) to interact with WRF portfolio and operations colleagues, WRF clients and senior management

  • Ability to work closely with fellow Operations team members

  • Strong knowledge of Microsoft Operations applications (specifically MS Excel) with ability to pick up new systems quickly

Benefits

Medical Insurance Dental Vision Life insurance Accidental death and dismemberment Short-term and long-term Disability Insurance Parental Leave Employee Assistance Program (EAP) Traditional and Roth 401(k) with company match Flexible Spending Account (FSA) Employee Stock Purchase Plan at 5% discount Critical Illness Insurance Accident Insurance Transportation and Commuting Benefits Banking Benefits Pet Insurance

Compensation

The estimated salary range for this role is $50,000-$65,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills, and experience.

#LI-AC1

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.


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