Smbc - New York, NY
posted 3 months ago
The Asset Management - AVP position at SMBC involves overseeing all aspects of asset management and loss recovery functions within the Asset Management department. This includes responsibilities such as residual valuation, equipment remarketing, portfolio reviews, end-of-lease monitoring, and loss recovery collections. The role is critical in minimizing SMFL's portfolio loss position by maximizing remarketing pricing of SMFL inventory, setting accurate residuals, managing the end-of-lease process, and maintaining precise records and reporting. The AM & LR Specialist will collaborate closely with various teams, including Asset Management, Credit, Accounting, and Sales, to ensure effective remarketing and collection activities. This position also requires assisting the Accounting department in reconciling payment applications and third-party vendor payments. The role demands a proactive approach to managing appraisals, residual values, and the end-of-lease process while developing relationships with external providers of repossession, appraisal, remarketing, and loss recovery services. In addition to these responsibilities, the AM & LR Specialist will perform equipment valuations, arrange inspections and appraisals with third-party providers, and work with the Sales team to efficiently remarket and negotiate the sale of SMFL inventory to maximize recovery rates. Accurate documentation of all costs associated with the remarketing of inventory is essential, as is maintaining communication with customers and preparing reports for management.