Prepares analyses and conducts asset management investigations of routine and more complex equipment, lease structures and larger residual risks in accordance with prescribed methods and procedures. Develops lease structuring and documentation alternatives on larger transactions to mitigate risks to acceptable levels. Assists Credit staff in assessing transactional equipment, structuring and documentation risk through consultation and analysis. Prepares and presents asset management reports and recommendations to appropriate senior department staff or committees. Cosponsors or approves residual requests within prescribed asset management limits. Manages collateral evaluations, annual portfolio residual review and, the annual remarketing revenue budget estimates. Provides support to department manager, Credit and appropriate staff with research and statistical analysis. Adds value to customer and partner relationships and supports the achievement of profitability and portfolio quality goals through interactions with staff and customers. Participates in process and product development projects as assigned by department manager.
“HOW WILL I BE CHALLENGED?”
· Works with tax, legal and sales to develop lease structures for customer proposals to support complex lease structures for large transactions. Conceptualizes and formulates lease structure strategy to accomplish customer's requirements. Develops future equipment value estimates and lease structures for use by department staff, credit, relationship managers, senior staff and committees in making asset risk decisions on transaction proposals outside established guidelines due to equipment type, requested structure or transaction size. Cosponsors or approves residual requests within prescribed limits.
· Manages, coordinates and, assists with asset management administration, collateral evaluations on substandard accounts, annual portfolio residual review and report, and portfolio monitoring of equipment concentrations and residual risk.
· Provides internal appraisal support in establishing asset value for lease portfolio. Provides relevant and timely asset information to internal stakeholders including account officers, relationship managers, and credit managers.
· Assists in the preparation of internal research and analysis, provides statistical reports, and verifies information. Prepares and delivers presentations on topics as assigned.
· Develops and utilizes computerized spreadsheets, programs, and other automated tools for residual analysis, special projects, or presentations.
· Develops and maintains expertise in assigned industries, equipment or market sectors. Monitors and reports on assigned equipment within FCL's lease portfolio. Keeps abreast of industry trends and competitive environment.
· Reviews the Equipment Catalog and Residual Tables and makes recommendations for changes that appropriately balance marketplace competitiveness and residual risk.
· Calculates early termination buyouts of lease contracts; reviews and approves buyout calculations of others. Researches lease documentation to provide timely responses to servicing lessors on BuyDesk transactions.
· Manages assigned equipment and assists others in the marketing and sale of equipment surrendered by the lessee at the end of the lease term.
“HOW CAN I BE CONSIDERED?”
· Bachelor's degree in relevant discipline and 5 - 7 years asset management experience in leasing industry; or 3-4 years asset management experience plus 3-5 years combined experience in special assets, credit and/or machinery and equipment appraisal, part of it preferably at a leasing company, or appropriate combination of education and experience.
· Expert knowledge of residual research, evaluation, and forecasting of current and future values across a variety of capital equipment types.
· Expert knowledge of complex lease structures, documentation and large ticket capital equipment.
· Strong business knowledge of marketing, economics, business law, statistics and the impact capital equipment has on a business.
· Advanced knowledge of Financial Accounting Standards Board Statement 13 (FAS 13), Internal Revenue Code (IRC) requirements for True Lease classification (including, purchase option values, limited use property, and economic useful life), and business law Generally Accepted Accounting Principles (GAAP).
Advanced knowledge of equipment and machinery valuation and appraisal methodology, including cost approach, sales approach, the causes of depreciation including physical deterioration, functional obsolescence, and economic obsolescence, and the ability to interpret an equipment appraisal report; American Society of Appraisers (ASA) Machinery and Technical Specialties (MTS) certification or coursework in Agricultural Chattels or Machinery and Equipment (M&E) preferred, or American Society of Farm Managers and Rural Appraisers (ASFMRA) Accredited Rural Appraiser (ARA) or Real Property Review Appraiser (RPRA).
· Expert knowledge of asset management evaluation methodologies, collateral valuation, underwriting policies, procedures, processes, and documentation.
· Advanced knowledge of specific assigned industries and equipment types, including key drivers, cycles, risks, and long term issues.
· Advanced knowledge of lease pricing using industry standard software tools.
· Advanced ability to perform complex lease pricing and future value forecasting.
· Advanced ability to develop, manage, review and evaluate appraisal and market study engagement assignments with outside consultants, contractors and appraisers.
· Advanced ability to estimate current fair market value and forecast future values and residuals.
· Advanced ability to manage the remarketing process for off lease equipment - evaluate current used equipment markets, determine equipment values, select remarketing channels, manage inspections and reconditioning, directly remarket or manage and direct the remarketing of others (internal and external).
· Expert knowledge of lease pricing using industry standard software tools.
· Advanced ability to negotiate internally and externally through all cycle stages of the lease.
· Advanced ability to assess and rationalize transactional risk and provide mitigations within the framework of a portfolio strategy.
· Advanced ability to apply Internal Revenue Code (IRC), Generally Accepted Accounting Principles (GAAP), and legal knowledge to provide lease structures that meet customer requirements and FCL risk tolerance.
· Advanced knowledge of the different types of capital equipment within FCL's portfolio.
· Advanced knowledge of lease agreements, Uniform Commercial Code and business law.
· Advanced ability to use spreadsheet, word processing, and database applications.
· Excellent interpersonal, negotiation, presentation, oral and written communication skills.