Equipment Management Officer II

at Bank of America in Chicago, Illinois, United States

Job Description

Equipment Management Officer II

Providence, Rhode Island;New York, New York; Chicago, Illinois; San Francisco, California; Boston, Massachusetts

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) 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 Equipment Management Officer utilizes their equipment finance experience to include, equipment types, financing products and an understanding of transaction structuring and pricing economics to successfully manager their portfolio.

**Open to additional approved office locations.

Job Responsibilities:

+ Build ongoing relationships with internal and external customers – negotiating equipment buy-outs, lease renewals and equipment sales.

+ 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.

+ 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).

+ 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.

Skills:

+ Data Collection and Entry

+ Data and Trend Analysis

+ Price Verification and Valuation

+ Research Analysis

+ Analytical Thinking

+ Collateral Management

+ Issue Management

+ Policies, Procedures, and Guidelines Management

+ Negotiation

+ Research

+ Risk Management

+ Valuation Ethics and Practice Standards

+ Vendor Management

Required Qualifications:

+ 5+ yrs experience in an equipment management role. A strong preference for a background 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 influence others and work precisely, while managing changing priorities

Desired Education:

Bachelor’s degree – Accounting, Engineering, Finance, Economics, Math or other Business concentration; Membership and training from the American Society of Appraisers preferred.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank 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 America’s Drug-free workplace and alcohol policy, CLICK HERE .