Sr. Asset Management Advisor
Date Posted: April 26, 2019
Tempe, AZ or San Francisco, CA
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Responsible for equipment asset management functions including, but not limited to, current and future valuation of assets for new business transactions, valuations for portfolio management payoff and FASB 13 RV impairment purposes and remarketing of repossessed and end of term assets.
Essential Job Functions
- Proactively manage the process of establishing residual values for potential lease and loan transactions across a broad spectrum of assets and industries.
- Ownership of vendor assigned programs from beginning of potential transaction to end of transaction. Includes current equipment valuation during the lease term and annual analysis of residual values compared to market for portfolio management risk purposes.
- Remarketing responsibilities in order to maximize recoveries for repossessed assets and increased gain on disposition off-lease equipment of all assigned vendor programs and asset categories.
- Development and management of external market sources including equipment subject matter experts, appraisers and remarketers.
- Responsible for logging and department reporting of all valuation and remarketing activities.
- Contribute to continuous improvement of policies and procedures to enhance valuation and remarketing efforts.
Other Job Duties
- Liaise with credit and sales to support, advice, expedite and effectively manage the front end residual/collateral valuation process.
- Assist sales in structuring transactions to meet new business volume objectives and profitability goals while mitigating residual risk through, among other things, setting realistic residuals and developing lease/loan return conditions designed to protect the bank’s equipment investment/collateral.
- Maintain the bank’s residual loan policy and recommends changes as needed.
- Continuously evaluate the portfolio in order to identify potential early sale opportunities (or impairments), disposition, or termination of leases to maximize asset and residual values and enhance the overall portfolio yield.
- Track and manage all maturing leases and negotiate lessee and third party sales including purchase options, renewals, and returns.
- Contribute to the design of policies and procedures for tracking expiring leases including the development of reports to EFD management to include a lease expiry forecast as well as remarketing activity reports detailing gain on sales, extended rents and fee income.
- Perform other projects and duties as assigned.
- BS or BA degree or equivalent asset/equipment management experience.
- Demonstrated skills in equipment valuation and forecasting for numerous equipment types including review, analysis and interpretation of technical/market trends that affect equipment values.
- 7 years’ experience in at least one of three core equipment management functions of valuation, portfolio management or remarketing preferably with well recognized leasing companies.
- Capable of assertively supporting equipment values and research based on a combination of quantitative and qualitative research and analysis.
- A high degree of critical thinking to recognize equipment, transaction and portfolio relate risks & opportunities and the ability to balance and manage these risks.
- Well-developed written and oral communication and diplomatic skills to interact with management, sales, credit and bank customers.
- Strong negotiation skills.
- Strong analytical, organizational and time management skills.
- The ability to manage multiple and diverse tasks and workflow simultaneously.
- The ability to function autonomously and proactively with minimal direct supervision.
- The ability to function under pressure and meet deadlines while producing high quality and consistent results.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer – Minority / Female / Disabled / Veteran. Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.
How to Apply: Please visit our careers page to submit your application.