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Asset Manager, Terex Financial Services

Westport, CT, US

About the Position:

Title:               Asset Manager, Terex Financial Services  

Reports to:    VP Finance - TFS  

Location:       Westport, CT 

Relocation:    not available    

 

Terex Financial Services (TFS) is the Terex captive leasing/financing group which offers financing solutions to customers of Terex equipment.   The successful candidate will be one of two asset managers to (1) recommend commercial solutions for lease and loan proposals fom a collateral and residual perspective, and (2) support the traditional asset management functions of (a) residual risk underwriting, (b) end of lease profitability, and (c) remarketing of used and returned equipment.    An understanding of lease/loan structuring and pricing will be needed in order to make effective recommendations to win transactions while taking prudent risk.  Valuations outputs will be shared with our funder partners around the world in order to align their valuations of Terex equipment with that of TFS.   Residual underwriting responsibilities involve gathering market data and developing quantitative models to estimate a manage-able residual risk position.  Once leases are booked, Asset Managers will be involved in the pricing and economics of mid-term and end-of-term upgrades, buyouts and renewals.  All equipment repossessed during the lease/loan term or returned at the end of the lease will be managed and remarketed in order to achieve maximum values.

 

Responsibilities

 

  • Coordinate with Sales and Pricing to provide residual and collateral insights for lease/loan structuring with the goal to win transactions while maintaining prudent risk underwriting standards.      
  • Pricing,  documentation, GAAP accounting and IRS tax treatments are considerations in commercial solution proposals
  • Coordinate with Capital Markets team to provide to our funder partners an education of Terex equipment and values. The goal is to reduce gaps  between funder and TFS residual appetites to support increased lease and loan sales.   Other tools to support sales of leases and loans will be the offering residual recourse and remarketing assistance.
  • Gather internal data on the Terex product lines including pricing, market share, secondary markets and customer tendencies.   
  • Gather external third party data on equipment values and used equipment market trends in the various geographies where Terex is present
  • Prepare residual risk and collateral liquidation value ranges for the Terex products Continuously analyze each of the products to ensure assumptions remain valid
  • Manage relationships with external Funder partner asset management personnel to share data and viewpoints of Terex used equipment values.   
  • Manage end of term and mid term requests for renewals and buyouts on leases.
  • Manage the logistics and eventual sale of equipment being repossessed or returned at end of lease.  
  • Ensure used equipment sales reflect fair market values.    
  • Regularly monitor remarketing channels and values and make recommendations when situations arise

 

Required Qualifications:

  • Bachelor’s degree 
  • 5+ years of experience in leasing industry with 5+ years exposure to Equipment Asset Management including Residual setting

 

Preferred Qualifications:

  • Bachelor's Degree in the field of accounting finance or business administration
  • Strong analytical, computer (Microsoft Excel), and communication skills
  • High degree of integrity
  • Ability to maintain confidentiality
  • Ability to demonstrate a sense of urgency and purpose
  • Good organizational skills, self-direction, and a team first attitude

 

Travel:

  • Up to 20% domestic and international travel required.

TRSR1234

 

 

Location: US-CT Westport HR 

Department: [[department]] 

Job ID: 409 

 

Terex Overview:

Terex Corporation is a $4.5 billion, publicly traded global manufacturer of lifting and material processing products and services. The company is passionate about producing equipment that improves the lives of people around the world. Terex operations are global, yet each office or factory is a close-knit community. Terex provides team members with a rewarding career and the opportunity to make an impact. The company values diversity and inclusion, safety, integrity, respect, servant leadership, courage and citizenship. It encourages continuous improvement and offers free courses available through Terex University. Women@Terex provides a supportive network for Terex women in their jobs and careers. It’s an exciting time to be part of the expanding manufacturing sector. Terex is a place where you can work and grow. Come talk to us!

 

Additional Information:

It is the policy of the company to attract and retain the best qualified employees. We are committed to providing employment opportunities to the most qualified internal or external candidate based on work-related factors and without regard to non work-related factors including race, color, religion, national origin, gender, sexual orientation, gender identity, age, disability, or veteran status as a special disabled veteran, Vietnam Era Veteran, or other qualifying veteran.

 

The Company offers competitive salaries, advancement opportunities, and a full range of benefits, including paid vacation, 401(k), medical, dental, and vision.

 

Terex Corporation is an Equal Opportunity Employer and Affirmative Action Employer M/F/D/V.


Nearest Major Market: Bridgeport
Nearest Secondary Market: Danbury

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