Equipment Management Officer II

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.

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.

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

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: