Equipment Leasing Contract Administrator- Cherry Hill, NJ in United States | DiversityInc Careers
 
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Equipment Leasing Contract Administrator- Cherry Hill, NJ

Job Description
• Ensure that a complete documentation request package has been obtained, including Lease Approval Addendum, TD Bank approval, pricing, invoices, proposal, etc.
• Orders Judgment Searches, Corporate Status Searches, Flood Searches and UCC Searches where applicable.
• Determine if Asset Management needs to review invoices to prepare an AMES for residual position or reasonableness of cost.
• Obtain approval for a takedown under a Lease Line from Lender.
• Get lease or loan entered into Maestro.
• Maintain Lease Line of Credit Spreadsheets.
• Review invoices to determine hard and soft cost ratio.
• Verify proper sign off has been obtained from approvers for hard/soft.
• Review invoices to determine if we have PMSI or order a UCC Search.
• Obtain Subordination of Liens where necessary.
• Verify that proper Sales Tax has been assessed on lease.
• Prepares lease or loan documentation which reflects the conditions of approval.
• Follows up to ensure receipt of executed documentation, and reviews for compliance to existing policies and procedures.
• Order equipment inspections through Asset Management where required.
• Obtain proper insurance certificate evidencing Liability and Property coverage for the lease/loan/mortgage.
• Establish Escrow accounts where necessary and administer payments through the Escrow Account.
• Prepares checks or wires for disbursement on a lease or loan transaction, and approves vouchers for payment on lease accounting system after verifying OFAC.
• Follow to obtain encumbered title for vehicles.
• Administers the lease process on third party deals or larger more complicated transactions, including the preparation of documents, order corporate status searches, Judgment searches and UCC searches
• Prepares more detailed and customized reports summarizing wide variety of lease activity. Prepares Customer correspondence and maintains proposal log and files. Coordinates payment of internal lease referral fees.
• Forwards documents for attorney review and confirms conditions of approval have been met through outside counsel.
• Works with outside counsel to promptly close transaction.
• Assists Documentation Manager with review, approval, and booking of transaction on lease accounting system.
• Assists Lenders with quotes on municipal transactions
• Assists sales force when necessary with the preparation of yield analysis reports
• Facilitates approval process, closing process and initial account setup by coordinating with leasing officers, Customers, outside professionals and other internal departments.
• Interacts with Customers, equipment vendors, lenders and attorney for the funding of a transaction.
• Provides training to new Documentation Specialists.
• Assist in the conversion of leases from the Bank's loan system, and the collection of data and input of information for portfolio purchases, to the lease accounting system.
• Provides input to management on department policies and procedures. Gathers input from staff based on day-to-day experience with leasing activities and contributes own suggestions for improvements and changes as appropriate.
• Ensures credit decisions are communicated promptly to appropriate lending officers or directly to applicants if necessary; verifies that approved applicants will become Customers.
• Sends original approval and lease documentation to Filenet.
• Sets up new leasing accounts, according to established policies and procedures. Processes necessary new account transactions. Ensures the ongoing administration of the accounts is established to reflect details of individual lease agreements
Job Requirements
• 2 Year Degree or equivalent experience
• 3-5 Years of related experience
Qualifications
• Extensive knowledge of leasing administration and documentation requirements.
• Knowledge of credit analysis and multi-state UCC requirements.
• Ability to understand and interpret contractual language of lease agreements.
• Attention to detail.
• Organizational skills, including ability to coordinate work of others, follow through and complete projects on a timely basis.
• Excellent communication skills, both verbal and written.
• Knowledge of Word and Excel.