Equipment Finance Documentation Specialist

3 weeks ago

Hunt Valley, United States Fifth Third Full time

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GENERAL FUNCTION:

The Equipment Finance Documentation Specialist is responsible for all aspects of documenting, closing and funding Equipment Finance lease transactions. This position will interface with the client, relationship manager, portfolio managers, asset managers, legal and pricing managers for all matters related to the due diligence, documentation, perfection, closing and funding, and thus must be able to coordinate with and influence multiple parties while driving toward the shared goal of an excellent client experience. Ensures that all documents required for closing are in place and coordinates judgmental "clear to close" decisions and any document or process exceptions with their manager or mentor. The Equipment Finance Documentation Specialist will prepare all lease/loan documents required for closing, and ensure that the business' equipment liens and/or ownership are properly perfected in accordance with legal requirements, and Fifth Third Bank Policies and Procedures.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns and personally following policies and procedures as defined. Accountable for always doing the right thing for customers, colleagues and the business and ensure that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by working with their manager to consistently identify, assess, manage, monitor and report risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Manage the entire transaction documentation and closing process for Equipment Finance lease/loan transactions.
  • Active member of the deal team working directly with the client, relationship manager, portfolio manager, asset manager, legal and pricing manager to ensure that policy, compliance and regulatory matters necessary for closing are addressed early in the process.
  • Effectively manages and prioritizes work queues for new lease/loan transactions.
  • Proactively manages work-in-progress within the closing calendar, balancing the needs of multiple internal and external stakeholder simultaneously.
  • Ensures that transactions are documented and closed per the instructions and conditions stated in the credit and asset management approval memo(s).
  • Work with their manager to determine, obtain and analyze required due diligence items including, but not limited to:
    • Know Your Customer requirements
    • UCC searches
    • Proof of insurance
    • Entity Corporate documents
    • Assignment documents
    • UCC-1/UCC-3 preparation
    • Invoices/Proof of Payment
    • MSO/Titles
  • Confirm wire instructions provided by vendor or customer are correct and accurate.
  • Prepares appropriate documentation in compliance with the terms of the request.
    • Obtain all necessary approvals including accounting, tax, pricing, and legal to ensure that

      transactions meet the requirements of and protect the interests of Fifth Third Bank.

  • Work with their manager to determine if enlisting assistance from legal counsel to advise on specific transaction issues and unresolved legal matters pertaining to transaction documentation is required.
  • Promptly and accurately determine when all underwriting, pricing and/or equipment management approval conditions for funding have been satisfied. Take appropriate actions to resolve deficiencies and if not able to resolve themselves, escalates disputes to appropriate level.
  • Prepare ACE Transaction and funding communication to ensure proper disbursement of funds via wire, deposit account and check payments.
  • Ensure proper filings are made and, if applicable, 3rd party subordinations/releases obtained to perfect Fifth Third's liens/ownership (including proper motor vehicle title work).
  • Ensure effective communication and coordination with applicable departments to finalize interim draws.
  • Thoroughly understand equipment lease/loan documentation and other source data to ensure proper boarding of all aspects of the transaction into the accounting system.
  • Board lease/loan transactions to the accounting system.
  • Take proactive steps to ensure that follow up items are received on a prompt and timely basis.
  • Ensure all goals and departmental service standards are met.
  • Escalate issues to appropriate personnel as necessary.
  • Participate in projects as assigned.
  • Present suggestions on efficiency improvements for the department.

Transaction types include, but are not limited to:

  • Equipment Loans, including outside counsel prepared
  • Finance Leases
  • Tax Leases
  • Synthetic Leases
  • Interim Financing Products
  • Municipal Transactions, including outside counsel prepared
  • Leverage Leases
  • Rail Financing
  • Syndicated Transactions
  • Aircraft Financing
  • Solar Leases

SUPERVISORY RESPONSIBILITIES: None

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

  • 3-5 years' experience with lease/loan documentation, with demonstrated expertise in due diligence and perfection processes preferred.
  • Bachelor's degree in Business (e.g. Business Administration, Finance, Accounting) or equivalent work experience preferred.
  • Proficient knowledge of lease and loan structures and documentation needs/requirements.
  • Knowledge of equipment lease and loan documentation, collateral, lien perfection, evaluation/review/interpretation of UCC searches and vehicle titling needs and processes strongly preferred.
  • A working knowledge of bank accounting/boarding systems.
  • Working knowledge of bank policies and procedures.
  • Proficient with all Microsoft Office products.
  • Strong attention to detail and organizational skills.
  • Effective problem solving and analytical skills, with ability to handle and prioritize multiple tasks.
  • Ability to work independently, with minimal direction.
  • Solid decision-making and trouble-shooting skills.
  • Solid verbal and written communication skills, with a team player attitude.
  • Comfortable interacting with corporate customers and peers.
  • Ability to meet deadlines under pressure.

    #LI-AS1

All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. All job requirements listed indicate the minimum level of knowledge, skills and/or ability deemed necessary to perform the job proficiently. This position description is not to be construed as an exhaustive statement of duties, responsibilities or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodation.

Equipment Finance Documentation Specialist LOCATION -- Cincinnati, Ohio 45202

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

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