Director, Equipment Finance Asset Management

About the role

The Director of Asset Management is responsible for all aspects of the Equipment Finance collateral valuation and management of the leased residual portfolio. The Director will work closely with the Managing Director of Equipment Finance and the Bank's Credit function to analyze risk on a transactional basis and for the overall portfolio. This is a key leadership role supporting the Equipment Finance product.

Responsibilities

• Plans, organizes, and manages all daily asset management activities, including collateral and residual evaluation, residual setting, mid-term portfolio monitoring and management, FASB reviews, inspections, end-of-lease negotiations, workout/collections, and re-marketing.
• Provides day-to-day strategic direction in portfolio investments, including composition and concentrations of asset portfolio risk.
• Develops and maintains policies, procedures, and controls to deliver, administer, and manage the Equipment Finance product of financed assets.
• Establishes and maintains internal controls for Sarbanes-Oxley compliance, process workflow, and schedule of authority.
• Partners with the Equipment Finance sales team to train, develop equipment expertise, and deliver accurate and expedient evaluations and transaction structures.
• Reviews and approves relevant equipment use, maintenance, return, and loan/lease documents.
• Engages and reviews all third-party appraisals and relevant reports to support Equipment Finance, Bank, and Special Assets.

Supervisory Responsibilities

• Provides guidance and oversight to and is responsible for the coordination and evaluation of the assigned team.
• Interviews, hires, and trains associates; plans, assigns, and directs work; manages performance and associate compensation; approves expense reports; and addresses concerns to resolve problems.

Requirements

• Bachelor’s degree in Business, Finance, or a related field required.
• 5 years of relevant asset management experience will be considered.
• 10+ years of equipment leasing and asset management experience.
• ASA or other appraisal certification preferred.
• Thorough understanding of and advanced knowledge of equipment sale and resale markets.
• Advanced knowledge and working relationships within the Asset Management segment of the Equipment Finance industry, equipment resellers, used equipment brokers, and equipment appraisers.
• Knowledge of mid- and large-ticket equipment leasing and finance documentation.
• Knowledge of appraisal processes, including the ability to perform equipment evaluations and review appraisals.
• Thorough understanding of and advanced knowledge of FASB and bank compliance as related to equipment leasing.

Essential Mental & Physical Requirements

• Ability to travel if required to perform essential job functions.
• Ability to work under stress and meet deadlines.
• Ability to operate related equipment to perform essential job functions.
• Ability to read and interpret documents if required to perform essential job functions.
• Ability to lift/move/carry approximately 10 pounds if required to perform essential job functions. If the employee is unable to meet this requirement and can be accommodated without causing undue hardship, the requirement may be omitted.