Equipment Management Officer II
Company: Disability Solutions
Location: Chicago
Posted on: October 26, 2024
Job Description:
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
Officer aligns to the Equipment Management Group (EMG) which is a
key driver of Bank of America Leasing & Capital's (BALCAP) market
leading position. The EMG team manages a diverse portfolio of lease
transactions and associated residual value (RV) positions. This
involves the valuation, structuring, selling, and renewing of
leased equipment, and the sale of off-lease equipment.The Equipment
Management Officer utilizes their equipment finance experience
incorporating equipment types, lifecycles, usage, financing
products and an understanding of transaction structuring and
pricing economics to successfully originate, manage and dispose of
the lease portfolio and related off-lease assets.**Open to
additional approved office locations.Job Responsibilities:
- Researching & setting residual values for new lease
transactions, collateral valuations for loans, migrating credits
and off-lease assets.
- Responsible for end of lease sales & dispositions of multiple
types of capital equipment including transportation, material
handling, machine tools, medical, and rail, amongst others.
- Maximize residual income while negotiating renewals and sales
of terminating assets and off-lease equipment.
- Assist Credit, Legal, Transaction Management, Operations and
Documentation in structuring transactions to ensure that BALCAP is
protected in all potential financing scenarios.
- Provide advice and commentary to internal partners on various
equipment types and the markets in which they operate.
- Build and maintain a strong network of external equipment
buyers, appraisers, advisors, and remarketers.
- Coordinate end of lease equipment inspections. Understand the
significance of the inspection reports. Work with and explain
inspection reports to clients to repair returned equipment.
- Involvement in equipment repossessions and collateral
liquidations for workout accounts.Required Qualifications:
- 5+ years of experience in an equipment management role,
preferably within the equipment leasing industry.
- A strong background in valuation, analysis, remarketing, and
sales of a broad range of equipment types is preferred. Extensive
experience with transportation assets is beneficial.
- Strong negotiation skills necessary in selling an assortment of
used machinery and equipment into the secondary market.
- Understanding various types of valuation concepts - Fair Market
Value, Orderly Liquidation Value, Forced Liquidation Value,
etc.
- Must have excellent client relations skills.
- Advanced communication, marketing, and negotiation skills
- Ability to influence others and work precisely, while managing
changing prioritiesDesired Qualifications:
- Bachelor's degree - Accounting, Engineering, Finance,
Economics, Math, or other Business concentration
- Membership and training from the American Society of
AppraisersSkills:
- In-depth knowledge of equipment management - particularly in
transportation and capital equipment markets
- Advanced written communication skills and demonstrated problem
solving skills.
- Ability to handle multiple projects simultaneously.
- Ability to demonstrate leadership, control/planning, and
creativity.
- Strong analytical and reporting skills.
- Ability and willingness to collaborate amongst team members and
business partners.
- Proven negotiation skills.
- Excellent communication skills.
- Travel - Shift:1st shift (United States of America)Hours Per
Week: 40Pay Transparency detailsUS - CA - San Francisco - 555
California St - Bofa Center - 555 California (CA5705), US - RI -
Providence - 1 Financial Plaza (RI1537)Pay and benefits
informationPay range$89,700.00 - $145,000.00 annualized salary,
offers to be determined based on experience, education and skill
set.Discretionary incentive eligibleThis role is eligible to
participate in the annual discretionary plan. Employees are
eligible for an annual discretionary award based on their overall
individual performance results and behaviors, the performance and
contributions of their line of business and/or group; and the
overall success of the Company.BenefitsThis role is currently
benefits eligible. We provide industry-leading benefits, access to
paid time off, resources and support to our employees so they can
make a genuine impact and contribute to the sustainable growth of
our business and the communities we serve.
Keywords: Disability Solutions, Elkhart , Equipment Management Officer II, Executive , Chicago, Indiana
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