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Equipment Management - Asset Manager

Company: Bank of America
Location: Providence
Posted on: September 23, 2022

Job Description:

Equipment Management - Asset ManagerProvidence, Rhode Island;New York, New York; Chicago, Illinois; Troy, Michigan; San Francisco, California; Boston, Massachusetts; San Diego, CaliforniaJob Description:Business Overview:Bank of America Global Leasing is the largest U.S. equipment financing company, serving over 59,000 clients worldwide. We have $71 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.Job Summary:Seasoned asset manager responsible for negotiating renewals, restructures, and selling a variety of equipment types in an assortment of industries. The incumbent will work closely with senior management and other EMG groups to prioritize equipment sales in place in order to maximize gains on sale. The position will be responsible for obtaining current equipment values, negotiating renewals, documenting payoffs and participating in the annual portfolio residual impairment review.Essential Functions:

  • Support the Americas businesses ensuring EMG policies and procedures are consistently followed.
  • 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 marketing and selling various types assets in a fast-paced environment.
  • Maximize 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.
  • Assess equipment condition/values based on the Maintenance and Return language from the lease.
  • Build ongoing relationships with current BAML Lessees & Originations
  • Be creative 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 investment opportunities.Preferred Education:Bachelors degree - Accounting, Engineering, Finance, Economics, Math or other Business concentration; Membership and training from the American Society of Appraisers preferred.Preferred Prior Work Experience:Five plus years experience in an equipment management role is required. A strong preference for a background in marketing and selling a broad range of equipment types and equipment markets.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 marketing 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 experience
    • Locations: Chicago, Providence, San Francisco, San Diego, Troy, Boston, New YorkJob Band:H5Shift:1st shift (United States of America)Hours Per Week:40Weekly Schedule:Monday-FridayReferral Bonus Amount:3000Job Description:Business Overview:Bank of America Global Leasing is the largest U.S. equipment financing company, serving over 59,000 clients worldwide. We have $71 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.Job Summary:Seasoned asset manager responsible for negotiating renewals, restructures, and selling a variety of equipment types in an assortment of industries. The incumbent will work closely with senior management and other EMG groups to prioritize equipment sales in place in order to maximize gains on sale. The position will be responsible for obtaining current equipment values, negotiating renewals, documenting payoffs and participating in the annual portfolio residual impairment review.Essential Functions:
      • Support the Americas businesses ensuring EMG policies and procedures are consistently followed.
      • 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 marketing and selling various types assets in a fast-paced environment.
      • Maximize 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.
      • Assess equipment condition/values based on the Maintenance and Return language from the lease.
      • Build ongoing relationships with current BAML Lessees & Originations
      • Be creative 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 investment opportunities.Preferred Education:Bachelors degree - Accounting, Engineering, Finance, Economics, Math or other Business concentration; Membership and training from the American Society of Appraisers preferred.Preferred Prior Work Experience:Five plus years experience in an equipment management role is required. A strong preference for a background in marketing and selling a broad range of equipment types and equipment markets.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 marketing 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 experience
        • Locations: Chicago, Providence, San Francisco, San Diego, Troy, Boston, New YorkShift:1st shift (United States of America)Hours Per Week:40Learn more about this roleFull timeJR-22042402Band: H5Manages People: NoTravel: Yes, 10% of the timeManager:Talent Acquisition Contact:Jason OlomonReferral Bonus:3000Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .

Keywords: Bank of America, Providence , Equipment Management - Asset Manager, Executive , Providence, Rhode Island

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