Equipment Management Officer II
Bank of America
Responsible for establishing residual and collateral values in connection with equipment leases and secured finance transactions. Reporting to the Valuation Manager of the Equipment Management Group (“EMG”), the successful candidate will work closely with EMG colleagues, senior management, Sales, Credit, Risk, Pricing and other teams across the enterprise, providing detailed analysis of various equipment types and making appropriate risk and structuring recommendations. The position is also responsible for providing desktop appraisals for existing portfolio transactions, determining equipment economic useful lives, participating in portfolio reviews and supporting the development of equipment value matrices and other tools.
- Support Global Leasing’s Corporate and Commercial businesses; ensuring EMG policies, procedures, controls and analytical principles are consistently followed.
- Formulate and recommend Residual Value (RV) risk levels for new lease transactions, provide collateral valuations in support of loan-type products and support the acquisition of transactions and/or portfolios.
- This position requires the ability to learn about and understand of a wide range of equipment types, their applications, and the markets where they operate and are traded. Typical asset types under consideration include Trucking, Mining and Construction, Rail, Materials Handling and Warehouse Equipment, Energy, Marine and Manufacturing.
- Provide accurate, well-reasoned opinions of current and future value, supported by research and data. Work with a large, diverse marketing and sales organization to support, advise and provide consultative guidance relative to future asset values and market attributes.
- Assist Credit, Legal, Transaction Management, Originations and Sales Management in structuring transactions to ensure that Global Leasing is protected in all situations contemplated in the financing. Construct documents and provide specific terms and conditions designed to protect Global Leasing’s investment.
- Understand and maintain databases, resource/reference materials, and a library of equipment knowledge.
- Build and maintain strong relationships with equipment brokers, inspectors, appraisers, remarketers and external suppliers.
- Evaluate new target markets and provide responsive support for analyzing, winning and managing new equipment investment opportunities.
- Learn and leverage internal and external software applications such as reporting tools, databases, and Microsoft Excel to be more efficient, analytical and accurate.
- 3 - 5 years of experience in an equipment management related role – ideally in a financial institution or with exposure to equipment financing transactions.
- A background in valuation and analysis of a broad range of equipment types and equipment markets is preferred. Membership in the American Society of Appraisers preferred.
- Bachelor’s Degree - Accounting, Finance, Economics (or other Business concentration), Math or Engineering.
- In-depth knowledge of an equipment management function
- A passion for equipment, allied to a curiosity to understand new equipment types and market dynamics
- A strong collaborative ethic, combined with an ability to work effectively with others to achieve team goals
- Ability to synthesize multiple variable inputs into well-reasoned, supportable opinions of value
- Ability to clearly articulate the reasoning and rationale behind equipment valuation recommendations
- Deductive reasoning ability, analytical and forecasting skills
- Written communication skills and demonstrated problem solving skills
- Ability to digest technical data and equipment specifications to better understand leased assets
- Effective MS Office skills are essential, with particular emphasis on MS Excel
- Ability to adapt to proprietary on-line management information tools and systems of record.
Shift:1st shift (United States of America)
Hours Per Week:40