Types of Jobs in Equipment Finance
Divisional Management
Incumbents are key top-managers in the Equipment Leasing & Finance business.
HEAD OF BUSINESS UNIT Incumbent has ultimate responsibility for the Equipment Leasing & Finance organization's annual and long-term business and financial results. Incumbent approves and is responsible for the execution of all strategic, financial, and operating plans and policies; as well as representing the company with the Board of Directors, major clients, industry organizations, and other key outside parties.
HEAD OF DIRECT LEASE BUSINESS Incumbent is responsible for overall planning and development of the direct lease function. Responsible for supervision of national field organization, including marketing, underwriting, pricing, and credit and collection functions. Responsible for national policies with respect to risk control, credit terms, and other factors which affect profitability of business. Prepares financial plans and exercises budget control. Manages selection, training, and development of direct lease program staff. Responsible for coordination of direct lease activities with other leasing functions in the organization.
REGIONAL HEAD Responsibilities are similar to the Head of the Equipment Leasing & Finance business. Incumbent, however, only manages a US geographic region. (i.e. Northeast, Midwest)
INDUSTRY/SEGMENT HEAD Incumbent is responsible for overseeing relationship management/client coverage, leasing activities, transaction structuring and execution, for a specific industry or sector.
CAO/COO/Bus Mgmt/Strategy
Responsible for most, or all, administrative, financial and support activities for a division within the firm. May be involved in strategic business planning. Staff are involved in the preparation of financial reports, budgets and annual and long-term planning reports. Coordinates administrative activities related to general services (e.g., facilities planning, graphics) and possibly certain human resource activities (e.g., campus recruiting, support personnel staffing, compensation issues). May also coordinate the division's systems development and support requirements.
CHIEF ADMINISTRATIVE OFFICER Incumbent is responsible for all administrative, and support activities of the equipment leasing and finance organization. Functions directed typically include data processing, operations, legal, human resources, general services, and other support activities. May also represent the organization with clients or outside parties.
CHIEF FINANCIAL OFFICER Incumbent directs the equipment finance and leasing organization's financial and credit activities. Management responsibility typically includes all of the organization's treasury, accounting, and financial control activities. Directs and coordinates activities with outside auditor and various regulatory agencies concerned with the organization's financial position and statements. Represents the firm on financial matters with industry, governmental, and regulatory organizations as well as with ratings agencies and outside investors as appropriate.
CHIEF OPERATING OFFICER Incumbent provides direction, coordination, and control for the effective and profitable operation of the equipment leasing and finance organization. Provides advice and counsel to the Head of All Equipment Finance and Leasing Activities/Chief Executive Officer on planning the scope and direction of all the leasing organization's operations. Presents recommendations on future plans and objectives. Develops operating policies consistent with business objectives and ensures their implementation. Evaluates results of overall operations and reports them to the Chief Executive Officer. Represents the company in critical relationships with major clients, industry organizations, regulators, and other key parties.
CONTROLLER Incumbent is responsible for implementation of budget controls, preparation of financial reports and general accounting record keeping. Incumbent is also responsible for rating agency reporting, if applicable.
Origination: Equipment Leasing & Finance
Function covers the sales staff of the organization. Incumbents may be responsible for all types of financing transactions or be primarily involved in one type of transaction.
CROSS-PRODUCT (GENERALIST) Sales staff who are responsible for multiple types of financing transactions should be matched to the cross-product sub unit. If an incumbent focuses 75% of time on one type of transaction then match to the approximate specialization below.
TRANSPORTATION Transportation includes Rail, Shipping, and Trucking lease transactions.
HEALTHCARE/MEDICAL DEVICES Healthcare/Medical Devices includes Medical Supplies, Biotechnology and Healthcare Facilities.
OFFICE EQUIPMENT Office Equipment includes Computers, Office Furniture and other equipment.
INDUSTRIAL/ CONSTRUCTION EQUIPMENT Industrial/Construction Equipment includes Heavy Machinery, Packaging and Distribution equipment.
TECHNOLOGY Technology includes Electronics/Components, Electronics/Precision Instruments, Internet, Telecommunications, IT Hardware/PCs, Semiconductors, Software/Infrastructure Systems/Applications and other equipment.
GOVERNMENT Government includes state and municipal county governments, state universities and boards of education.
INSIDE SALES Inside Sales incumbents generating leasing business through customers introduced by originators in other parts of the organization.
VENDOR/3RD PARTY LEASE Vendor Lease Business/Third Party Indirect focuses on originating vendor lease transactions, established as a standard leasing program on a contractual basis with a manufacturer, which have national application. Staff who are responsible for originating and structuring the standard contract with the manufacturers should be matched to the National Vendor Accounts function. Banks typically have vendor lease activities while captive firms tend to have third party indirect activities which may cover the captive's own equipment or other manufacturer's equipment.
Origination: Dealer Financing/Franchise Financing
Dealer financing/franchise financing covers national accounts management and staff with head office and field staff responsible for arranging the financing of the inventory of dealers in consumer and capital goods. Financing activities may be conducted with equipment manufacturers or directly with dealers. Additionally, some organizations specialize in franchise financing, (e.g., fast food restaurants).
Origination: Leveraged Lease Activities
Leveraged lease activities covers specialists handling leases with a separate equity and debt structure.
Origination: National Vendor Accounts
Staff is responsible for developing standardized leasing programs with manufacturers that have national application. Positions covered include national account managers. Leasing activities may include several types of lease transactions (i.e. direct full payout leases, operating leases). Specialized field vendor lease sales staff are covered in the Sales (Origination) section.
Capital Markets
Incumbents are responsible for securitization and syndication practices.
SECURITIZATION Staff manages the pooling of leases/loans to support the secondary marketing initiatives.
SYNDICATIONS Staff supports the leasing business involved in the distribution of leasing deals to institutional investors. Staff may also be responsible for evaluation and participation in transactions originated by other firms.
Business/Corporate Finance
The Corporate Finance unit covers staff responsible for the development, structuring, and placement of financings for corporations covering the full spectrum of transactions. Such financings usually take the form of debt but may also involve equity or equity "kickers." Leases may or may not be part of the transaction. The firm may act as agent and/or principal in completing the transaction.
Equipment Remarketing & Asset Management
Staff responsible for remarketing and management activities (i.e. participating in the sale of equipment, initial structuring of transactions, evaluating residual values of equipment and inspection programs).
ASSET MANAGEMENT Staff is responsible for inspecting, evaluating and determining the value of equipment coming off of lease.
REMARKETING Staff participates in disposition of equipment coming off lease (i.e. resale/restructuring).
FEE BASED REMARKETING Staff participates in disposition of equipment coming off lease for a third party on a fee basis.
Lease Portfolio Management & Acquisition
Staff is responsible for managing a lease portfolio, structuring the portfolio to meet the organization's objectives, and benefiting from investment opportunities in the marketplace through acquisition and divestiture of existing leases. Responsibilities may include portfolio management for outside investors. If incumbents are responsible for lease portfolio management and acquisition as well as remarketing, match to this unit.
Underwriting and Pricing
The underwriting and pricing unit includes staff who are responsible for underwriting and pricing transactions. Underwriting may be handled by the sales function rather than assigned to an underwriting staff. Also, underwriting and pricing may be combined into one position; in this case staff should be matched to the underwriting function.
Credit Review/Risk Management
Staff is responsible for credit analysis for a specialized area, (e.g., direct full pay-out lease, vendor lease programs, as well as credit staff responsible for multiple types of lease transactions). If incumbents are responsible for credit/pricing and underwriting, match to this unit.
Collections
Staff is responsible for phone collection and may participate in repossession progress.
Workout
Workout covers staff responsible for the restructuring of loans when companies do not meet the original loan's conditions. The loan workout group directs its efforts to limiting losses on outstanding problem loans.
Accounting
Staff is responsible for coordinating and managing the accounting function. Incumbents will have responsibility for the general ledger, receivables and payables. Staff also maintains and preserves accuracy of firm's ledger accounts and resultant financial statements.
Tax
Staff is responsible for providing tax services specifically in support of leasing transactions. Incumbents analyze financial information to determine reporting requirements in compliance with applicable tax codes and laws and review tax returns prior to submission to ensure accuracy and also to ensure that all appropriate actions have been taken to minimize the organization's tax liability. Staff are familiar with leasing focused taxation issues.
Funding
Staff is responsible for activities include securing the funds necessary to support the firm's assets in the most cost effective manner and managing funding risks while maintaining a balance between the demand and availability of funds.
Legal
Incumbents are responsible for the legal affairs of the Equipment Leasing & Finance business. Staff monitors regulatory development, legal implications of transactions and protects the firm's legal rights. Staff also manages and ensures implementation of legal policies.
Marketing
Staff is responsible for conducting market research, developing strategy, and designing promotional and advertising materials.
Information Technology
Incumbents are responsible for firm's IT strategy and operations. Staff identifies computer and systems technology to meet needs of the firm. Incumbents also involved in network maintenance and application development/implementation.
Operations
This function includes incumbents who are responsible for servicing and documentation/processing in the Equipment Leasing & Finance business.
DOCUMENTATION/PROCESSING Documentation staff in this area are responsible for the transaction management and documentation process. Staff are involved in negotiating and preparing documentation for transactions and reviews documentation on extremely complex or sizable transactions to ensure adherence with procedures and to eliminate/limit the organization's credit and valuation exposure. If incumbents are responsible for documentation/processing and servicing, match to a Servicing specialization.
SERVICING: WITH ASSIGNED CLIENTS Covers staff responsible for servicing accounts, (i.e., recordkeeping, client billing, and management reporting). Incumbents are assigned to service specific clients. Staff may also be responsible for data processing activities, if no separate function exists.
SERVICING: WITHOUT ASSIGNED CLIENTS Covers staff responsible for servicing accounts, (i.e., recordkeeping, client billing, and management reporting). Incumbents are not assigned to service specific clients. Staff may also be responsible for data processing activities, if no separate function exists.
