Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
The Equipment Management Officer aligns to the Equipment Management Group (EMG) Remarketing team, which manages a diverse portfolio of lease transactions and associated Residual Value (RV) positions.  This involves restructuring/selling/renewing leased equipment and generating associated gains on sale.  

The Equipment Management Officer utilizes their equipment finance experience to include, equipment types, financing products and an understanding of transaction structuring and pricing economics to successfully manager their portfolio.

**Open to additional approved office locations.

Job Responsibilities:

• Build ongoing relationships with internal and external customers – negotiating equipment buy-outs, lease renewals and equipment sales.

• Evaluate current market conditions and prices for equipment based on research and analysis of the used equipment market.  Make prudent sell/hold decisions.

• Assess equipment condition/values based on the Maintenance and Return language from the lease.

• This position requires knowledge and experience of a variety of different Lease Structures i.e., TRAC/Split TRAC, FMV, Synthetic Leases etc.….

• Manage the process of remarketing and re-leasing a high volume of assets across a wide range of equipment types (excluding aircraft).

• Be creative in selling equipment in place to maximize sale proceeds and minimize the risk associated with equipment returns.   

• Evaluate new target markets and provide responsive support for analyzing, winning and managing new investment opportunities.

• Capabilities of remarketing and selling a variety of used equipment in the used secondary market.

• Understanding various types of valuation concepts – Fair Market Value, Orderly Liquidation Value, Forced Liquidation Value etc.

• Competent negotiator for selling an assortment used machinery and equipment.

Required Qualifications:

• 5+ yrs experience in an equipment management role.  A strong preference for a background in customer negotiations - providing remarketing solutions in a broad range of equipment types and equipment markets

• Must have experience with equipment management to include understanding of the various lease transaction types (TRAC, synthetic, fair value market, fixed price purchase option, etc.)

• Experience obtaining current equipment values, negotiating renewals, documenting payoffs and participating in the annual portfolio reviews

• Must have excellent client relations skills

• Advanced communication, marketing and negotiation skills

• Ability to influence others and work precisely, while managing changing priorities

Desired Qualifications:

• Bachelor’s degree - Accounting, Engineering, Finance, Economics, Math or other Business concentration; Membership and training from the American Society of Appraisers preferred

Skills:

• Data Collection and Entry

• Data and Trend Analysis

• Price Verification and Valuation

• Research Analysis

• Analytical Thinking

• Collateral Management

• Issue Management

• Policies, Procedures, and Guidelines Management

• Negotiation

• Research

• Risk Management

• Valuation Ethics and Practice Standards

• Vendor Management

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - CA - San Francisco - 555 California St - Bofa Center - 555 California (CA5705), US - RI - Providence - 1 Financial Plaza (RI1537)

Pay and benefits information

Pay range

$89,700.00 - $145,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.