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Equipment Finance Asset Manager

Company: Canadian Imperial Bank of Commerce
Location: Chicago
Posted on: March 20, 2023

Job Description:

Equipment Finance Asset Manager page is loaded Equipment Finance Asset Manager Apply locations Chicago, IL time type Full time posted on Posted 2 Days Ago job requisition id 2303425 We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit Job Description What You'll Be DoingU.S. Commercial Banking teams build lasting relationships with business owners and executives throughout the country to help them realize their ambitions. We combine deep expertise and market insight with powerful solutions and high-touch service to provide the flexibility, responsiveness and support that set us apart in the industry. Our strategic priorities include: adding new strategic relationships, building and deepening existing relationships, and increasing referral activity across all lines of business.The Director of Asset Management will lead Asset Management which supports CIBC's Equipment Finance Group through engagement with third party outsider appraisers. The role will include establishing best asset management practices in addition to providing competitive residual assumptions based on technical expertise, market knowledge, and sound business judgment. This role will also be responsible for the tracking and reporting of all asset classes and all residual positions for appropriateness on an on-going basis in addition to any held for sale analysis. The position will report to the Equipment Finance Group Head.At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview. - The location for this role has flexibility throughout the Domestic US.How You'll Succeed

  • Identify and manage third party asset appraisers to develop relationships and negotiate scope of work
  • Evaluate, analyze and summarize for file third party asset appraiser residual/collateral values for all proposed loan and lease transactions based on sound research, analysis, judgment, documentation and defense of conclusions
  • Form protocol for asset management involvement within deal execution and Loan Services
  • Work closely with business/sales management of Equipment Finance to advance efforts to meet revenue and profit goals
  • Engage within customer, prospect and credit discussions accordingly
  • Monitor and report on all asset quality to EFG Group Head to measure the portfolio
  • Recommend market-competitive return conditions and asset documentation requirements for new transactions
  • Provide proactive portfolio monetization opportunities and renewal opportunities
  • Coordinate, evaluate and make recommendations along with outside third parties on the remarketing of returned or repossessed assets
  • Work with EFG management to develop equipment return and maintenance provisions in addition to support of asset appraisal amortization/residual tolerances
  • Approve and monitor all residuals within established Equipment Finance standards and guidelines
  • Prepare a quarterly residual review presentation, including updating values utilizing market data and internal modeling tools for specific asset classes
  • Consider the customer impact as a result of all lease end options involving the return and purchase of equipment and lease renewals by customers as well as payoffs or lease cancellations prior to end of term
  • Attend and participate in all high level client and internal conversations, as necessary
  • Develop asset management performance criteria
  • Successfully recruit and develop full time asset management team member Who You Are
    • Minimum of 15 years of experience in equipment finance industry with knowledge of the primary lease structures, and/or extensive experience valuing various asset classes
    • Certification as an appraiser through the ASA or AMEA is preferred
    • Experience with a wide variety of equipment including, but not limited to, transportation, manufacturing, construction, trucking, aircraft, rail and marine
    • Asset return and remarketing experience
    • Documentation experience
    • Strong P.C. skills including Microsoft Excel, Word, and PowerPoint
    • Strong interpersonal and presentation skills with a demonstrated ability to work independently
    • A proactive, action-oriented approach to problem solving
    • Highly self-motivated, confident and decisive
    • Bachelor's Degree required
    • MBA preferred What CIBC offers - At CIBC, our people are our greatest asset. You'll become part of a diverse community that acknowledges everyone's unique talents, and empowers teams to do what's right for the client and to do it well. As part of our team, you will: -
      • Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home. -
      • Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity. -
      • Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training. -
      • Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more. - California residents - your privacy rights regarding your actual or prospective employment - What you need to know
        • CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact
        • You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit .Job LocationIL-120 S LaSalle St Employment Type RegularWeekly Hours40SkillsBusiness, Equipment Financing Similar Jobs (5) Asset Manager, Commercial Real Estate locations Chicago, IL time type Full time posted on Posted 30+ Days Ago Community Investments Portfolio Asset Manager locations Chicago, IL time type Full time posted on Posted 30+ Days Ago At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

          Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

          Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.

Keywords: Canadian Imperial Bank of Commerce, Chicago , Equipment Finance Asset Manager, Executive , Chicago, Illinois

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