Asset Management Specialist

3 days ago

New York, New York, United States Sumitomo Mitsui Banking Corporation (SMBC) Full time
Job Title: Asset Management & Loss Recovery Specialist

Join Sumitomo Mitsui Banking Corporation (SMBC) as an Asset Management & Loss Recovery Specialist and take on a challenging role that requires a unique blend of financial acumen, analytical skills, and communication expertise.

Job Summary

The Asset Management & Loss Recovery Specialist is responsible for managing all aspects of asset management and loss recovery functions within the Asset Management department. This includes residual valuation, equipment remarketing, portfolio reviews, end of lease monitoring, and loss recovery collections.

Key Responsibilities
  • Manage all aspects of appraisals, residual values, end of lease process, remarketing, and loss recovery functions.
  • Identify and develop relationships with external providers of repossession, appraisal, remarketing, and loss recovery/collection services.
  • Perform equipment valuations and work with 3rd party providers to arrange inspections and appraisals.
  • Work closely with Sales and 3rd parties to efficiently remarket and negotiate the sale of SMFL inventory to maximize recovery rates. Accurately document all costs associated with the remarketing of inventory.
  • Work closely with the Collections team on those accounts that are trending towards repossession to forecast potential losses.
  • Work with Asset Manager to prepare quarterly portfolio valuations and analysis on residual values.
  • Maintain and document communication with customers, including updating all customer comment logs, drafting/sending Bill of Sales, Notice of Sale Letters, and Demand Letters for deficiency balances.
  • Maintain collateral appraisal data obtained from external appraisors to develop equipment database.
  • Prepare reports for management.
Requirements
  • 5-7 years of specialized experience in Financial Services.
  • Minimum of 5 years collections/asset management experience in leasing industry; or 3-4 years collections experience plus 2-4 years combined experience in credit and/or machinery, transportation, and equipment appraisal, preferably at a leasing company; or an appropriate combination of education and experience.
  • Highly knowledgeable of all aspects of the leasing business from origination through maturity, including repossession/resale/litigation/bankruptcy.
  • Strong communication skills with internal and external stakeholders, including writing and interpersonal skills. Maintain a professional attitude toward customers, especially in difficult situations.
  • Knowledgeable in pricing lease/loan transactions using TValue software or similar calculation tools.
  • Ability to multitask and work under pressure with tight deadlines.
  • MS Office (Word, Excel, PowerPoint) and Aspire.
Additional Requirements

SMBC's employees participate in a Hybrid workforce model that provides employees with the opportunity to work from home, as well as from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status, or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know.

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