Asset Management - SVP (Remote)

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

 

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

Role Description

The SVP within Asset Managemnet is responsible for all aspects of asset management functions within the Asset Management department including but not limited to: residual valuation, equipment remarketing, portfolio reviews, end of lease monitoring, and vendor relationships. SVP is also responsible for minimizing SMFL's potfolio loss position through maximizing remarketing pricing of SMFL inventory, setting accurate residuals, managing the end of lease process, and keeping accurate records and reporting. 

 

SVP will work closely with Asset Management, Credit, Accounting and Sales teams on equipment valuations, residual value setting, end of lease terms, and remarketing of the assets upon lease expiration or repossession.  SVP will also assist the Accounting department to reconcile payment applications and 3rd party vendor payments. 

Role Objectives

• Manage all aspects of Appraisals, Residual Values, End of lease process, remarketing and end of terms collections.
• 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 appriasals.
• 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 management to prepare  quarterly  portfolio valuations and analysis on residual values.
• Maintain and document communication with customers, this includes updating all customer comment logs, drafting / sending Bill of Sales,  Notice of Sale Letters, and other related documents as required.
• Maintains collateral appraisal data obtained from external appraisors to develop equipment database.
• Prepare reports for management.
• Contact lease customers to negotiate the sale or coordinate equipment return at end of lease. 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.

Qualifications and Skills

• Highly knowledgeable of all aspects of the leasing business from origination through maturity including repossession/resale/litigation/bankruptcy. 
• Knowledgeable of  lease management systems (Aspire, Sungard Ambit Asset Finance, or similar application systems).
• Strong communication skills with internal and external and both writing and interpersonal.  Maintain professional attitude toward the customer, especially in difficult situations. 
• Need to have strong skills to manage expectations of both internal and external stakeholders and provide a timely response. 
• Knowledgeable to price the lease/loan transaction using TValue software or similar calculation tools.
• Ability to work independently and to adapt to a fast changing environment. 
• Must have attention to detail and able to manage complex operations and asset management procedure.
• Ability to multitask and work under pressure under time constraint.  
• Equipment finance experience in technology, healthcare and material handling a plus. Strong knowledge of Operating Lease products required and the end of term process. 
• 10+ years of specialized experience in Financial Services
• Minimum of 7 years of asset man