VP Asset Management

Wintrust Asset Finance is an equipment-focused financing group that offers sophisticated loan and lease products to commercial companies throughout the country in a wide range of industries, including transportation, construction, manufacturing, energy services, aviation, and turn-key property, plant, and equipment, among others.

Wintrust Asset Finance is an affiliate of Wintrust, a financial services company with more than $50 billion in assets.

Why join us?

• An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 10 years) and Employee Recommended award by the Globe & Mail (past 6 years)
• Competitive pay and discretionary or incentive bonus eligible
• Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few
• Family-friendly work hours
• With 175+ community bank locations, we offer opportunities to grow and develop in your career
• Promote from within culture

Why join this team?

• We have a culture that encourages an entrepreneurial spirit
• We offer multiple opportunities for development and upward mobility

Job Description Summary

The AM will be responsible to work within the commercial leasing team to establish accurate equipment values, negotiate the End of Lease and Early Termination transactions directly with customers, diligently dispose of returned equipment, as well as assist with the overall equipment portfolio management and ad hoc departmental special projects.

The position requires the incumbent to participate in Residual Setting Function for new transactions by performing equipment research, transaction assessments and lessee situational overviews as well as following general technological and regulatory trends related to the leased equipment.

Additionally the incumbent is required to perform the Remarketing Function by securing and evaluating the End of Lease equipment and documentation information to include equipment identification, market research and value assessment, lease agreement review, and lessee situational overview.

What You’ll Do

Valuation - Research various equipment types to project present and future equipment values for the purpose of providing residual pricing to the marketing team and / or credit in a timely and thorough manner.

Understand components of equipment leasing to ensure prudent equipment covenants are incorporated into lease / loan documentation to protect equipment value.

• Monitor the various equipment markets for technology changes, market influences and regulatory changes that affect value of leased equipment and residual pricing and values of similar equipment.
• Perform various portfolio and administration activities as assigned, to include but not limited to, required accounting, internal documentation and reporting necessary to ensure compliance with internal and external requirements.

Coordinate and assist with the calculation of FMV lease terminations and buyouts; communicate amounts to lessee.

• Coordinate and conduct the equipment reviews required by policy working with Director for FASB ASC840 and related ad hoc reporting.
• Remarketing - Initiate research for end of lease account responsibilities; use research data to determine market value ranges and renewal rental rates, stick rate, disposition strategy, and execute approved action plan.
• Remarket and sell returned equipment in a timely and cost effective manner to maximize net proceeds and mitigate loss to the bank.
• Perform equipment inspections as needed and arrange outside third party inspections and appraisals as requested.
• Perform other job-related duties as may be required.

Knowledge / Skills / Background / Experience

• Minimum 5-10 years in the equipment management department of an equipment leasing company or similar type company.
• Bachelor’s degree would be a plus
• Formal appraisal training a plus ASA
• Excellent PC skills with knowledge of MS Word, MS Excel and other departmental software and systems.
• Demonstrated experience in Equipment Valuation and Remarketing of various equipment types and ability to work independently and lead projects with minimal supervision.

Benefits

Medical Insurance

• Dental
• Vision
• Life insurance
• Accidental death and dismemberment
• Short-term and long term Disability Insurance
• Parental Leave
• Employee Assistance Program (EAP)
• Traditional and Roth 401(k) with company match
• Flexible Spending Account (FSA)
• Employee Stock Purchase Plan at 5% discount
• Critical Illness Insurance
• Accident Insurance
• Transportation and Commuting Benefits
• Banking Benefits
• Pet Insurance

LI-HYBRID

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life.

To be Chicago’s Bank® and Wisconsin's Bank®, we need to reflect that diversity both in all the communities we serve, the people we employ, the organizations we work with, and our banking and lending practices.

Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer.

All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, sexual orientation, gender identity and expressions, genetic information, marital status, age, disability, or status as a covered veteran or any other characteristic protected by law.