Equipment Management Officer II

Chicago, Illinois;Providence, Rhode Island; San Francisco, California

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) which is a key driver of Bank of America Leasing & Capital’s (BALCAP) market leading position. The EMG team manages a diverse portfolio of lease transactions and associated residual value (RV) positions. This involves the valuation, structuring, selling, and renewing of leased equipment, and the sale of off-lease equipment.

The Equipment Management Officer utilizes their equipment finance experience incorporating equipment types, lifecycles, usage, financing products and an understanding of transaction structuring and pricing economics to successfully originate, manage and dispose of the lease portfolio and related off-lease assets.

**Open to additional approved office locations.

Job Responsibilities:

• Researching & setting residual values for new lease transactions, collateral valuations for loans, migrating credits and off-lease assets.

• Responsible for end of lease sales & dispositions of multiple types of capital equipment including transportation, material handling, machine tools, medical, and rail, amongst others.

• Maximize residual income while negotiating renewals and sales of terminating assets and off-lease equipment.

• Assist Credit, Legal, Transaction Management, Operations and Documentation in structuring transactions to ensure that BALCAP is protected in all potential financing scenarios.

• Provide advice and commentary to internal partners on various equipment types and the markets in which they operate.

• Build and maintain a strong network of external equipment buyers, appraisers, advisors, and remarketers.

• Coordinate end of lease equipment inspections. Understand the significance of the inspection reports. Work with and explain inspection reports to clients to repair returned equipment.

• Involvement in equipment repossessions and collateral liquidations for workout accounts.

Required Qualifications:

• 5+ years of experience in an equipment management role, preferably within the equipment leasing industry.

• A strong background in valuation, analysis, remarketing, and sales of a broad range of equipment types is preferred. Extensive experience with transportation assets is beneficial.

• Strong negotiation skills necessary in selling an assortment of used machinery and equipment into the secondary market.

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

• 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

Skills:

• In-depth knowledge of equipment management - particularly in transportation and capital equipment markets

• Advanced written communication skills and demonstrated problem solving skills.

• Ability to handle multiple projects simultaneously.

• Ability to demonstrate leadership, control/planning, and creativity.

• Strong analytical and reporting skills.

• Ability and willingness to collaborate amongst team members and business partners.

• Proven negotiation skills.

• Excellent communication skills.

• Travel – <10%

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.

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .

To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.