Manager-Equipment Management Group-Remarketing Team

$125,000 - $207,900/Yr

Bank of America - New York, NY

Full-time - Manager

New York, NY

Credit Intermediation and Related Activities

About the position

The Equipment Management Manager at Bank of America is responsible for leading the Equipment Management Group's Remarketing team, overseeing a diverse portfolio of lease transactions and managing associated Residual Value positions. This role focuses on restructuring, selling, and renewing leased equipment while generating gains on sales. The manager will set policies and guidelines to enhance team efficiency and meet the needs of the Global Leasing business, ensuring strong client relationships and maximizing team performance.

Responsibilities

• Lead a team of equipment remarketing professionals, managing mid-lease and lease-end termination events.
• Build ongoing relationships with internal and external customers, negotiating equipment buy-outs, lease renewals, and equipment sales.
• Maximize team performance and satisfaction by supporting individual growth and team spirit.
• Maintain and develop work processes that support the Global Leasing business, contributing to systems processes and improvements.
• Manage the process of remarketing and re-leasing a high volume of assets across a wide range of equipment types (excluding aircraft).
• Set and work towards financial targets, maximizing gains on sale through strong negotiations while maintaining client satisfaction.
• Evaluate current market conditions and prices for equipment based on research and analysis of the used equipment market.
• Make prudent sell/hold decisions and assess equipment condition/values based on the Maintenance and Return language from the lease.

Requirements

• 5+ years experience in an equipment management role with experience in customer negotiations.
• Experience with 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 annual portfolio reviews.
• Excellent client relations skills.
• Advanced communication, marketing, and negotiation skills.
• Ability to demonstrate leadership, control/planning, and creativity.
• Ability to influence others and manage changing priorities.

Nice-to-haves

• Bachelor's degree in Accounting or Engineering.
• Analytical Thinking
• Collateral Management
• Data and Trend Analysis
• Price Verification and Valuation
• Research Analysis
• Critical Thinking
• Issue Management
• Policies, Procedures, and Guidelines Management
• Regulatory Relations
• Risk Management
• Valuation
• Vendor Management

Benefits

• Paid time off
• Industry-leading benefits
• Access to resources and support for employees
• Eligibility for annual discretionary awards based on performance