Senior Vice President, Asset Management

24 hours ago

Chicago, Illinois, United States Sumitomo Mitsui Banking Corp Full time
Job Summary

We are seeking a highly experienced Senior Vice President, Asset Management to join our team at Sumitomo Mitsui Banking Corp. The successful candidate will be responsible for minimizing our portfolio loss position through maximizing remarketing pricing of our inventory, setting accurate residuals, managing the end of lease process, and keeping accurate records and reporting.

Key Responsibilities
  • Asset Management: Manage all aspects of appraisals, residual values, end of lease process, remarketing, and end of terms collections.
  • Relationship Building: Identify and develop relationships with external providers of repossession, appraisal, remarketing, and loss recovery/collection services.
  • Equipment Valuations: Perform equipment valuations and work with 3rd party providers to arrange inspections and appraisals.
  • Remarketing and Sales: Work closely with Sales and 3rd parties to efficiently remarket and negotiate the sale of our inventory to maximize recovery rates. Accurately document all costs associated with the remarketing of inventory.
  • Collections and Loss Recovery: Work closely with the Collections team on those accounts that are trending towards repossession to forecast potential losses.
  • Portfolio Valuations: Work with management to prepare quarterly portfolio valuations and analysis on residual values.
  • Collateral Appraisal Data: Maintain collateral appraisal data obtained from external appraisors to develop equipment database.
  • Reporting and Communication: Prepare reports for management and contact lease customers to negotiate the sale or coordinate equipment return at end of lease.
  • Invoice and Payment Management: Issue invoices and collect payments on units not returned in a timely manner. Collect payments on any units that do not meet terms and conditions.
Requirements and Qualifications
  • Leasing Business Expertise: Highly knowledgeable of all aspects of the leasing business from origination through maturity, including repossession/resale/litigation/bankruptcy.
  • Lease Management Systems: Knowledgeable of lease management systems (Aspire, Sungard Ambit Asset Finance, or similar application systems).
  • Communication and Interpersonal Skills: Strong communication skills with internal and external stakeholders, including writing and interpersonal skills. Maintain a professional attitude toward the customer, especially in difficult situations.
  • Stakeholder Management: Need to have strong skills to manage expectations of both internal and external stakeholders and provide a timely response.
  • Adaptability and Attention to Detail: Ability to work independently and adapt to a fast-changing environment. Must have attention to detail and be able to manage complex operations and asset management procedures.
  • Multitasking and Time Management: Ability to multitask and work under pressure with time constraints.
  • Equipment Finance Experience: Equipment finance experience in technology, healthcare, and material handling a plus.
  • Operating Lease Products: Strong knowledge of Operating Lease products required and the end of term process.
  • Experience and Education: 10+ years of specialized experience in Financial Services. Minimum of 7 years of asset management experience in leasing industry; 7 or more years equipment valuation/residual setting experience required, plus 5 years combined experience in credit or collections and/or machinery, transportation, and equipment appraisal, preferably at a leasing company; or an appropriate combination of education and experience.

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