Job description
Position will be located in our Itasca, IL office.
Position Overview:
Senior Vice President, Head of Asset Management, is a key role within Mitsubishi HC Capital America (MHCA) and will be tasked with driving the strategic direction of the company’s central Asset Management group. The position will be responsible for managing a team dedicated to servicing an equipment finance asset portfolio of $6B+ across MHCA’s three business units: Vendor Solutions, Commercial Finance, and Canada. The Asset Management group will be responsible for residual value setting, collateral valuations, remarketing off-lease assets, and developing value-added services such as auctions and appraisals that generate new sources of revenue for the company.
Commitment to Internal Control:
The incumbent accepts the responsibility for establishing and maintaining the internal control system associated with the essential duties and responsibilities of the functional areas that the incumbent manages.
Essential Duties and Responsibilities:
(List in order of time spent)
- Lead North America Asset Management team that is responsible for managing asset and residual risk across a diverse portfolio of $6B+ equipment assets which include transportation, industrial, construction, aircraft, marine, technology, medical, clean energy, electric and fuel cell trucks, charging stations and more.
- Develop value-added equipment services, including auctions and appraisals that leverage the company’s unique access to equipment through its relationships with vendors, OEM’s, and end users.
- Become EV and fuel cell truck residual expert.
- Provide residual and collateral evaluations on new and existing lease and loan transactions.
- Develop residual value matrices across various equipment makes and models to support FMV origination.
- Manage remarketing programs for all off-lease and distressed assets.
- Develop a retail remarketing program for our equipment so that we realize the highest residual valuations.
- Develop wholesale and auction programs for equipment that is not retail ready
- Conduct industry and equipment analyses.
- Develop and present collateral value analyses to MHC senior management.
- Assist on RV and Credit deal applications by ordering appraisals and providing asset descriptions, valuation curves, secondary market information, etc.
- Interact with third party vendors and appraisers and develop a database of contacts by asset type.
- Manage, arrange and perform on-site equipment inspections.
- Work closely with Credit, Portfolio Management, and Sales Teams. Provide structuring advice accordingly.
- Provide, review and negotiate Master Lease Agreements, Schedule maintenance and return provisions as necessary.
- Develop and standard practices for expiring lease residuals and manage those practices to ensure timely execution of lease residual realization.
- Assist with the maintenance of department policy and procedure manuals.
- Attend industry trade conferences to develop key relationships across various asset types.
- Identify and implement best practices across all facets of asset management.
- Communicate frequently with Asset Management from parent company in Japan, and provide periodic reporting.
- Assist Portfolio Manager with both annual collateral reviews for credit and portfolio management as well as the annual ASC 840 Annual Residual Impairment Review.
- Ensure compliance with Legal & Financial requirements.
- Perform special projects and other miscellaneous duties as assigned by president & managers.
- Maintain high ethical standards in the workplace.
- Comply with all company policies and procedures.
- Responsible for maintaining a clean and safe working area.
Responsibility and Decision-Making Authority:
Act independently; Decision-making within Company policy.
Management/Supervisory Responsibilities:
Qualifications:
Knowledge, Abilities, Skills
:
- Strong communication, analytical, and problems solving skills.
- Ability to express findings in a logical and organized manner.
- Ability to meet deadlines.
- Strong in MS Excel, PowerPoint, and Word
Education and Experience:
- Bachelor’s Degree from four-year accredited college or university; or equivalent combination of education and related experience.
- 10+ years of relevant work experience in equipment finance or asset management.
Licensing and Certification:
- American Society of Appraisers (ASA) certification preferred.
Tools and Equipment Used:
- Personal computer, copier, phone, and other typical office equipment
Working Hours:
- Hours may vary and will require some evening work; frequently requires working 40-45 hours/week depending on business needs
Travel:
Frequent domestic travel by both car and plane including overnight travels.
Physical Demands:
- Digital dexterity and hand/eye coordination in operation of office equipment
- Light lifting and carrying of supplies, files, etc.
- Ability to speak to and hear customers and/or other employees via phone or in person
- Body motor skills sufficient to enable incumbent to move from one office location to another
The job description does not constitute an employment contract, implied or otherwise, other than an “at will” relationship and is subject to change by the employer as the needs of the employer and requirements of the job change.
Salary Range: $250,000.00 per year, plus a discretionary Bonus.
The salary range is determined and based on internal equity, market data/ranges, applicant's skills, prior relevant experience, and education.
Additional Benefits:
- Medical, Dental and Vision Plans
- 401(k) and matching
- Generous Paid Time Off
- Company paid Life Insurance
- Employee assistance program
- Training and Development Opportunities
- Employee discounts
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