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Job Snapshot

Employee Type - Full-Time EmployeeExperience - Not SpecifiedIndustries - Management, Banking

Description

Meridian OneCap Credit Corp (MOCC) is an equipment and finance company providing a broad range of financial services to businesses throughout Canada.  Our parent, Meridian Credit Union, has over 70 years of banking history and is Ontario’s largest credit union.

MOCC (formerly Roynat Lease Finance) is a provider of asset financing in the form of capital leases.  We are committed to being the best provider of specialized equipment financing services to strategic vendors across Canada.  Our service-oriented culture and exceptional group of professionals serves to provide our strategic partners with value-added service and constructive solutions


Who we are!

Meridian OneCap Credit Corp provides customized leasing solutions both to help companies sell equipment and to companies that have chosen to lease equipment, rather than buy. For manufacturers and vendors, we enable you to provide your customers with a value-added service that helps your customers acquire equipment efficiently, and gives your company a competitive edge. And for the end user, we can help you to preserve working capital in your business, while benefiting now from the use of the equipment.

Our team is known as industry leaders. We’ve earned our reputation through consistent delivery of financing programs with the most efficient transaction process and superior customer service. With the largest direct sales force within the Canadian market, it’s no wonder our customer service is unparalleled.

The Bilingual Asset Manager is responsible for generating income including new business opportunities related to the management of the end of lease process.  They are also responsible for maximizing recoveries and minimizing losses related to the recovery and remarketing of repossessed and off-lease assets.

  1. Originations: Supporting Credit and Sales in identifying appropriate lending values for specific assets classes. In addition, reviewing prospective future values of certain assets streams for the purposes of establishing un-guaranteed residuals.
  2. End of Term: Oversee the process of end of term asset disposal covering over-term leases and assets returned under our unguaranteed programs.  This includes generation of renewal income, non-interest fee generation and fair market value realization.
  3. Inventory Management: Maximize recoveries from sale of inventoried assets that originate from repossessions and end of lease returns.

Key Responsibilities

Originations

  • Establish fair market value residual matrices for specific asset classes and vendor programs.  Within this define the renewal strategy and set residual realization targets met for the unguaranteed programs.
  • As required, provide one off exceptional fair market value residual pricing for large transactions or non-standard assets.  This may include “walk-away”, guaranteed or TRAC opportunities.
  • Support Sales and Credit by providing one-off asset valuations to facilitate credit underwriting.

End of Lease

  • Manage 90-day expiry report.

    • Send expiry notices to customers as required.

    • Contact customers with large residuals coming to end of term to negotiate refinanced terms and generate new business leads.

    • Verify renewal terms and ensure that purchase options are collected and maximize fair market realization.

  • Work with customers on the return of assets at end of lease as required.Issue return authorizations with the view to minimize losses on off-lease assets and maximize our returns.

  • Ensure that our Vendor and Broker program requirements are met.

  • Collaborate with Customer Service, Collections and Accounting on the disposition of end of lease contracts and the generation of end of lease income.

Inventory Management:

  • Work with Collections and Sales to determine appropriate remarketing channels for assets coming into inventory.
  • Ensure the timely sales of repossessed and off-lease assets.
  • Maximize income and minimize expense associated with the sale of repossessed and off-lease assets.
  • Verify and validate inventory values attached to repossessed assets on written off contracts.
  • Provide asset valuations on repossessed assets to aid Collections in establishing appropriate specific reserves on high balance assets (>$50k NI)
  • Provide expert judgment and advice to Collections team to aid in recovery strategies for non-performing assets.

Remarketing Channel Oversight

  • Identify remarketing partners; negotiate terms of engagement (commission, costs, SLAs).
  • Maintain Service provider list and add/remove remarketing partners as required.
  • Perform periodic site visits of remarketing partners. 
  • Ensure remarketing partners meet compliance, regulatory and insurance criteria as mandated by the Credit Union.

Knowledge, Skills and Abilities

  • Minimum ten (10) years’ experience in Asset Management, Collections and the Leasing industry.
  • Bilingual skills in English and French are a requirement
  • Strong grasp of leasing industry products.
  • Full understanding of legal and regulatory rules governing account collection and asset disposal/remarketing.
  • Full understanding of security documentation and legal rights therein.
  • Highly developed problem solving and negotiating skills.
  • Completion of a post-secondary education program in finance would be an asset. 
  • Experience with Microsoft operating systems including Word, Excel, Outlook and the Internet.

What's in it for you?

  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

  • We provide you with the tools and technology needed to delight your clients!

  • Did you know our leadership team has worked in the Canadian finance industry for a combined 120 years?

  • Dress for your day! Be comfortable when you can!

  • This is not your typical "corporate" job. We work hard and we have fun!

  • We offer a competitive total rewards package that includes base salary, a performance bonus, vacation, personal & sick days, personal development funding, paternity/maternity leave top-ups and much more.

    Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.

    Follow us on Twitter at

    @MeridianCareers

    Connect with us on LinkedIn:

    https://www.linkedin.com/company/meridian-credit-union/careers?trk=top_nav_careers

 
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