Equipment Management Officer II

Job Description:

Business Overview:

Bank of America Global Leasing is the largest U.S. equipment financing company, serving over 65,000 clients worldwide. We have $69 billion in total assets, and have a significant global presence, with nearly 1,000 associates. Together with our affiliated companies*, we provide equipment financing solutions to small businesses, middle-market and large corporations, offering product expertise in government financing and wholesale vendor financing, as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy.

*Certain products are offered through Banc of America Public Capital Corp, a wholly-owned subsidiary of Bank of America N.A.

Summary:

Experienced asset manager responsible for negotiating lease renewals, restructures, early and end of lease terminations, financing of purchase options and selling a variety of equipment types in an assortment of industries.   The incumbent will work closely with management and other Equipment Management Group (“EMG”) teams to prioritize equipment sales in place in order to maximize gains on sale. The position will be responsible for obtaining current equipment values, documenting payoffs and participating in the annual portfolio ASC impairment review.

Essential Functions:

• Support the America’s businesses ensuring EMG policies and procedures are consistently followed.
• This position requires knowledge and experience of a variety of different Lease Structures (TRAC/Split TRAC, FMV, Synthetic and others).
• Manage the process of marketing and selling various types of equipment in a fast paced environment.
• Maximize gains on sale through strong negotiations while maintaining high client satisfaction.
• Evaluate current market conditions and prices for off-lease equipment based on research and analysis of the used equipment market.
• Assess equipment condition and values based on the Maintenance and Return language from the lease agreement.
• Build ongoing relationships with Global Leasing Sales Originators and current Global Leasing clients.
• Demonstrate creativity in selling equipment in place in order to maximize sale proceeds and minimize the risk associated with equipment returns.
• Evaluate new target markets and provide responsive support for analyzing, winning and managing new equipment sales opportunities.

Preferred Education:

Bachelor’s Degree - Accounting, Finance, Economics (or other Business concentration), or Math or Engineering.  Membership in and training from the American Society of Appraisers preferred.

Preferred Prior Work Experience: 

Minimum five years of experience in an equipment management role is required.  A strong preference for a background in marketing and selling a broad range of equipment types in a variety of industries.

Preferred/Desired Skills:

• In-depth knowledge of equipment management, working on large, complex transactions
• Customer/Client industry knowledge
• A strong collaborative ethic, combined with an ability to work effectively with others in order to achieve team goals
• Deductive reasoning ability, exceptional equipment remarketing and sales skills
• Advanced communication, marketing and negotiation skills
• Ability to demonstrate leadership, control/planning and creativity
• Ability to influence others and work precisely, while managing changing priorities
• Demonstrated problem solving skills
• Strong Excel spreadsheet skills
• Travel – 10%

Preferred Location:

• Chicago, Providence, Boston, San Francisco, San Diego, Troy

Shift:

Hours Per Week: