At CoBank, our Remarketing Manager manages end-of-lease activities and remarketing of company inventory which includes, but is not limited to, end-of-lease notification, remarketing of in-place, displaced and recovered assets, evaluation of recovered assets, and development of asset-specific remarketing plans. Actively participates in the annual portfolio residual review and setting annual remarketing revenue budget estimates. Prepares and presents asset management remarketing reports and recommendations, including reports on secondary market and portfolio behavior and performance metrics to management and committees. Provides support to department manager, Credit, Portfolio Management and appropriate staff with research and statistical analysis. Identifies and initiates process improvements and works toward remarketing issue resolution. Serves as the frontline, customer-facing resource for all remarketing activity, adding value to customer and partner relationships while balancing return risk and investment recovery. Develops and expands Farm Credit Leasing’s (FCL) remarketing channels. Assists with the identification and management of asset inspection and remarketing partners and alternative channels. Conducts end-of-lease and distressed account collateral evaluations. Develops and reports on end-of-lease metrics, including stick rate, realization by asset class and terms, and inventory status reports with aging and turn times. Oversees third-party asset inspections, assessment and invoicing of shortages, damages and excess use, initial collection of end-of-lease invoices, asset appraisal based on actual condition, and developing and executing specific asset remarketing plans.
CoBank stands strong as a $125 billion enterprise dedicated to the financial needs of rural communities. That means we help fund new ways to grow food, generate energy, access technology, and otherwise improve life in America. When you choose a career with us, you make a difference by standing for something that matters. A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. We also provide competitive compensation, health and wellness benefits, company-funded retirement plan, matching 401(k), and professional development programs.
CoBank will not sponsor a work visa (e.g. H1B, etc.) to fill this position.
CoBank is an Equal Opportunity Employer.
Bachelor's degree in Business, Finance or other relevant discipline.
5 or more years of asset management remarketing experience in the leasing industry; OR three (3) or more years of asset management remarketing experience, plus three (3) or more years combined experience in special assets, credit and/or machinery and equipment appraisal, preferably in the leasing industry; or an appropriate combination of education and experience.
Preferred certifications: American Society of Appraisers (ASA) Machinery and Technical Specialties (MTS) certification or coursework in Agricultural Chattels or Machinery and Equipment (M&E), American Society of Farm Managers and Rural Appraisers (ASFMRA) Accredited Rural Appraiser (ARA) or Real Property Review Appraiser (RPRA).
Expert knowledge of secondary market channels, asset evaluation, and remarketing techniques across a variety of capital equipment types.
Advanced knowledge of complex lease structures, lease agreements, documentation and large ticket and other capital equipment in FCL’s portfolio.
Advanced knowledge of equipment and machinery valuation and appraisal methodology, including cost approach, sales approach, the causes of depreciation including physical deterioration, functional obsolescence, and economic obsolescence, and the ability to interpret an equipment appraisal report.
Expert knowledge of asset management evaluation methodologies, collateral valuation, underwriting policies, procedures, processes, and documentation.
Advanced knowledge of specific assigned industries and equipment types, including key drivers, cycles, risks, and long term issues, as well as a familiarity with the major equipment industries served by CoBank/FCL.
Strong knowledge of Financial Accounting Standards Board Statement 13 (FAS 13), Internal Revenue Code (IRC) requirements for True Lease classification (including, purchase option values, limited use property, and economic useful life, the Uniform Commercial code, relevant business law, and Generally Accepted Accounting Principles (GAAP).
Proven ability to perform complex lease pricing, estimate current fair market value and forecast future values and residuals, including the ability to apply Internal Revenue Code (IRC), Generally Accepted Accounting Principles (GAAP), and legal knowledge to provide lease structures that meet customer requirements and FCL risk tolerance.
Demonstrated ability to creatively and effectively assess and rationalize remarketing risk and build new marketing channels while addressing transactional risk issues through lease structuring and documentation mitigations within the framework of a portfolio strategy.
Demonstrated ability to develop, manage, review and evaluate appraisal and market study engagement assignments with outside consultants, contractors and appraisers, including the ability to review third party provider contracts.
Ability to effectively build new marketing channels while protecting maintaining address transactional risk issues through lease structuring and documentation mitigation.
Excellent interpersonal and relationship building skills, with the ability to work effectively with all levels of management, leadership, business partners and project team members.
Demonstrated analytical, problem solving and organizational skills.
Excellent verbal, written, ad presentation skills, with the ability to communicate clearly with all levels of management, leadership, business partners and project team members.
Ability to work independently with minimal guidance, as well as collaboratively in a team environment.
Working knowledge of marketing, economics, relevant business law, and statistics.
Ability to use spreadsheet, word processing, database and business intelligence applications, and lease pricing software tools.
Knowledge of Microsoft Office applications (Outlook, Word, PowerPoint and Excel).
Availability for occasional work outside normal business hours.
Occasional travel required.
Employer will assist with relocation costs.
Internal Number: 2203
About CoBank, ACB
CoBank is a $100 Billion dollar bank with over 800 Associates and is also one of the best kept secrets in the financial industry. We are a successful and unique bank that plays an important role in the nation’s rural economy. We’re not a retail bank – we don’t take deposits, have branches or offer mortgages, car loans and consumer credit cards. Instead, CoBank provides loans to vital industries throughout rural America – namely agribusiness and rural utilities. We also help some of our agribusiness customers sell their products internationally. It’s an important niche supporting U.S. industries that play a critical role in the national and global economy.
Not only does CoBank – headquartered in Denver and with 13 offices nationwide – serve a unique customer base, we do it using a unique business model. CoBank is a cooperative, which means we’re owned by our customers, and they are involved in the bank’s governance and share in our profits. It’s a system that works. CoBank, the largest financial institution headquartered in Colorado, is strong and stable. During the recent economic downturn and banking crisis, CoBank realized record profits and did not receive any ...government financing. Our commitment to cooperative principles – coupled with banking best practices – has kept our balance sheet healthy so we can stand by our customers in any economic conditions.
In addition to an unwavering customer focus, our employees are part of the secret of success at CoBank. CoBank has a vibrant, team-oriented and engaged corporate culture, and employees are respected for their experience and expertise. We provide competitive benefits, a generous 401(k) plan and promote a healthy work-life balance. Individual employees also get to direct a donation on behalf of the bank to a charity of their choice. Additionally, CoBank also has a robust environmental strategy and award-winning corporate giving program.
Cooperative. Connected. Committed.
CoBank will not sponsor a work visa (e.g. H1B, etc.,) to fill this position.
As a condition of employment with CoBank, any successful job applicant will be required to pass a pre-employment background investigation.
CoBank is an Equal Opportunity Employer.
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