Asset Management - SVP

at SMBC in Springfield, Illinois, United States

Job Description

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $139,000.00 and $157,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

The SVP, Asset Management is responsible for minimizing SMFL’s potfolio loss position through maximizing remarketing pricing of SMFL inventory, setting accurate residuals, managing the end of lease process, and keeping accurate records and reporting. The SVP, AMD will work closely with Asset Management, Credit, Accounting and Sales teams on equipment valuations, residual value setting, end of lease terms, and remarketing of the assets upon lease expiration or repossession. The SVP will also assist the Accounting department to reconcile payment applications and 3rd party vendor payments.

Role Objectives

+ Manage all aspects of Appraisals, Residual Values, End of lease process, remarketing and end of terms collections

+ Identify and develop relationships with external providers of repossession, appraisal, remarketing, and loss recovery / collection services

+ Perform equipment valuations and work with 3rd party providers to arrange inspections and appriasals

+ Work closely with Sales and 3rd parties to efficiently remarket and negotiate the sale of SMFL inventory to maximize recovery rates. Accurately document all costs associated with the remarketing of inventory

+ Work closely with the Collections team on those accounts that are trending towards repossession to forecast potential losses

+ Work with management to prepare quarterly portfolio valuations and analysis on residual values

+ Maintains collateral appraisal data obtained from external appraisors to develop equipment database

+ Prepare reports for management

+ Contact lease customers to negotiate the sale or coordinate equipment return at end of lease

+ Issue invoices and collect payments on units not returned in a timely manner

+ Collect payments on any units that do not meet terms and condition

Qualifications and Skills

+ Highly knowledgeable of all aspects of the leasing business from origination through maturity including repossession/resale/litigation/bankruptcy

+ Knowledgeable of lease management systems (Aspire, Sungard Ambit Asset Finance, or similar application systems)

+ Strong communication skills with internal and external and both writing and interpersonal. Maintain professional attitude toward the customer, especially in difficult situations

+ Need to have strong skills to manage expectations of both internal and external stakeholders and provide a timely response

+ Ability to work independently and to adapt to a fast changing environment

+ Must have attention to detail and able to manage complex operations and asset management procedure

+ Ability to multitask and work under pressure under time constraint

+ Equipment finance experience in technology, healthcare and material handling a plus

+ Strong knowledge of Operating Lease products required and the end of term process

+ 10+ years of specialized experience in Financial Services

+ Minimum of 7 years of asset management experience in leasing industry; 7 or more years equipment valuation / residual setting experience required, plus 5 years combined experience in credit or collections and/or machinery, transportation and equipment appraisal, preferably at a leasing company; or an appropriate combination of education and experience

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.