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GENERAL FUNCTION: Responsible for ensuring all funded transactions meet or exceed minimum rates and guarantee all equipment risk/residual positions are within approved guidelines and that all lease products are priced in compliance and within the set accounting guidelines and tax regulations.
The role is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all @types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:- Ensure that all the pricing economics are transferred correctly into the lease contractual document and that all midterm and end of term purchase options are documented correctly.- Develop expertise in lease structuring and provide pricing, structuring, and analytic expertise to the sales team, tax department, and accounting department. - Assure transaction yield, structure and terms complies with bank standards and approvals.- Review pricing runs for all transactions to confirm the accuracy prior to documenting, booking and funding.- Operate within the Bank's risk appetite; achieve results by consistently identifying, assessing, managing, monitoring, and reporting risks of all @types. - Independently help reduce tax and accounting risk by reviewing compliance of lease structure and pricing with tax regulations and accounting guidelines (e.g., depreciation, FAS13, A842). - Answer questions and problem solve tax issues, present value, discounted cash flow, IRR, term structure of interest rates, forward rate locks, financial markets, and other relevant topics. - Independently develop, enhance and refine Excel business models to assist sales staff in their marketing efforts (e.g., Fixed versus floating rate analysis, split TRAC, ETO, Synthetic lease, etc.).- Learn and develop basic understanding of leverage lease pricing and reporting, and be able provide relevant information to the Tax and Accounting departments on legacy portfolio.- Assist with data gathering and modeling for Tax and Accounting Departments.- Meet all due diligence requirements effectively and efficiently with minimal supervision. - Manage, reconcile and maintain the integrity of the Equipment Finance rate lock program. Work closely with Treasury and data warehouse teams to make sure all rate locked transactions and all non-rate locked Tax leases are assigned the appropriate FTP /Cost of Funds.- Possess/develop a wide functional knowledge and navigation of all pricing software.- Provide extensive training to the sales team regarding understanding and navigation of lease pricing software and profitability metrics like Risk Adjusted Return on Capital (RAROC). - Assist the credit portfolio managers in the preparation of amortization reports and pricing analysis. - Work with IT teams and vendors to trouble shoot and report all lease pricing software issues, interpret business requirements and provide examples to software vendors for software enhancements. Take part in user acceptance testing for all lease software upgrades
SUPERVISORY RESPONSIBILITIES: None
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:- Bachelor's degree required in a business field; with degree preference of Accounting or Finance. - Preferred: 5 years minimum relevant experience required; ability to work independently; strong analytical skills, excellent interpersonal skills, ability to handle and prioritize multiple tasks; working knowledge of tax and accounting aspects of leasing; applicable industry and lease product knowledge (such as fair market value, TRAC, first amendment, synthetic, municipal, and leveraged leases). - Experienced in Microsoft Office software; Word, Excel, PowerPoint, and Access;- Basic understanding and previous experience using lease software like; Info Lease, Super Trump, Rapport, and ABC is preferred.
All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. All job requirements listed indicate the minimum level of knowledge, skills and/or ability deemed necessary to perform the job proficiently. This position description is not to be construed as an exhaustive statement of duties, responsibilities or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodation.
At Fifth Third Bank, we understand the importance of rewarding our employees for their hard work and dedication, therefore, our Total Rewards offering includes a differentiated compensation package and comprehensive benefits.
Benefits:
Our benefits programs are designed to support the health, happiness, and financial well-being of our employees and their families. Your benefits will include access to comprehensive medical, dental, and vision coverage, a 401(k) plan and employee stock purchase plan that both offer a generous employer match, flexible paid time off, comprehensive leave programs, and unique benefits to support your overall mental and physical wellness. For additional details, please contact your recruiter.
Compensation:
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the US. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Pricing Specialist - Equipment Finance
Total Base Pay Range 60,100.00 - 123,200.00 USD Annual
LOCATION -- Cincinnati, Ohio 45202
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
