The Equipment Leasing and Finance Association awarded Bonnie Michael, vice president of legal and compliance USA for Volvo Financial Services, the Edward A. Groobert Award for Legal Excellence. ELFA Legal Committee Chair Lisa Moore, senior counsel at PNC Equipment Finance, presented the award to Michael on May 4 at ELFA Legal Forum LIVE! in recognition of her significant contributions to the ELFA and the equipment finance industry.

Michael has more than two decades of experience representing equipment finance companies and the financial services industry. She joined Volvo Financial Services as general counsel in 2010 and has led the U.S. legal team since then. In her current role, she monitors the broad spectrum of legal and regulatory areas impacting the company, providing day-to-day advice and guidance and implementing changes as developments occur.

A leader in her field who is conversant in a wide range of topics concerning equipment finance, Michael has contributed to the ELFA and the equipment finance industry in a number of ways.

She has served as an information resource for ELFA members regarding legal issues impacting the equipment finance industry. She has been a frequent speaker and participant in the ELFA Legal Forum and other industry events. In addition, she has contributed to ELFA’s Equipment Leasing & Finance magazine and the Equipment Leasing & Finance Foundation’s Journal of Equipment Lease Financing. She also led a team of ELFA volunteers in updating the Motor Vehicle State Survey on Financial Responsibility.

Michael has served in a number of leadership roles within the ELFA. She is a past member of the ELFA Legal Committee (2010–2012) and past chair/co-chair of the ELFA Motor Vehicle Subcommittee (2010–2016). She also gives back to the industry by serving on the board of trustees for the Equipment Leasing & Financing Foundation (2015–present). In 2020, she was the vice chair of the ELFF board. She has served on the ELFF’s National Development Committee, Nominating Committee and Editorial Review Board for the Journal of Equipment Lease Financing.

As a respected industry thought leader, Michael has mentored many members of the equipment finance industry’s legal community. She has invested time and leadership in serving as a resource to colleagues seeking guidance from her on a range of legal issues.

Outside of the ELFA, Michael has actively participated as an “observer” in the submissions to and meetings with the Uniform Commercial Code and Emerging Technologies Committee of the American Law Institute/Uniform Law Commission, currently undertaking a review of the UCC to determine whether the code or official comments should be revised or supplemented to reflect emerged and emerging technology.

In addition to her legal responsibilities at Volvo Financial Services, Michael created and served as the initial chair of the company’s community involvement program in the U.S., which furthered her passion for giving back. She also created and served as the first chair of the company’s engagement committee in the U.S., helping to foster an even better workplace for all employees to enjoy.