Manager-Equipment Management

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:

The Equipment Management Manager is responsible for directing the Equipment Management Group (EMG) Remarketing team, which manages a diverse portfolio of lease transactions and associated Residual Value (RV) positions.  This involves restructuring/selling/renewing leased equipment and generating associated gains on sale.  The role also involves setting direction, policies/procedures, guidelines to maximize the team’s efficiency and to meet the needs of the Global Leasing business.  

Job Responsibilities:

• Lead a team of equipment remarketing professionals – successfully managing mid-lease and lease-end termination events.
• Build ongoing relationships with internal and external customers – negotiating equipment buy-outs, lease renewals and equipment sales.
• Maximize team performance and satisfaction – supporting individual growth and team spirit.
• Maintain and develop work processes that support the Global Leasing business – contribute to systems processes and improvements.
• This position requires knowledge and experience of a variety of different lease structures i.e. TRAC/Split TRAC, FMV, Synthetic Leases etc..
• Manage the process of remarketing and re-leasing a high volume of assets across a wide range of equipment types (excluding aircraft).
• Set and work towards financial targets; maximizing gains on sale through strong negotiations while maintaining client satisfaction. 
• Evaluate current market conditions and prices for equipment based on research and analysis of the used equipment market.  Make prudent sell/hold decisions.
• Assess equipment condition/values based on the Maintenance and Return language from the lease.

Required Qualifications:

• 5+ yrs experience in an equipment management role with experience in customer negotiations - providing remarketing solutions in a broad range of equipment types and equipment markets.
• Must have experience with equipment management to include understanding of the various lease transaction types (TRAC, synthetic, fair value market, fixed price purchase option, etc.)
• Experience obtaining current equipment values, negotiating renewals, documenting payoffs and participating in the annual portfolio reviews. 
• Must have excellent client relations 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

Desired Qualifications:

Bachelor’s degree - Accounting, Engineering

Skills:

• Analytical Thinking
• Collateral Management
• Data and Trend Analysis
• Price Verification and Valuation
• Research Analysis
• Critical Thinking
• Issue Management
• Negotiation
• Policies, Procedures, and Guidelines Management
• Research
• Business Operations Management
• Regulatory Relations
• Risk Management
• Valuation Ethics and Practice Standards
• Vendor Management

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: