VP Equipment Finance

Position Overview

Tenured financial sales representatives with experience in the equipment leasing and finance industry who specialize in winning and nurturing business with vendors, manufacturers, distributors, dealerships and direct customers. Positions Old Second’s brand and financing solutions as a strategic competitive advantage.

The VP Equipment Finance Representative is responsible for developing and generating transactional sales volume within an assigned territory by the Managing Director. The role will be working closely, with Credit Department, Documentation Department and Customer Service Department in meeting goals for the Equipment Finance Division. 

Essential Job Functions

• Sell value-added finance solutions to new and existing customer base.
• Meet or exceed sales production goals.
• Win and nurture client relationships by initiating outbound calls, on-site presentations, and attendance at industry events
• Provide effective financing options that address customers’ needs
• Ensure all required documents are accurately proposed, completed, and submitted to the appropriate parties
• Work in conjunction with Originations Leader and Marketing to identify potential prospects.
• Qualify and communicate with vendor prospects using tools such as phone, email, and in-person meetings.
• Effectively communicate our value proposition to potential vendor and customer prospects to generate interest.
• Effectively track and report all business development efforts.
• Develop vendor programs, negotiate vendor program agreements, and onboard qualified vendor relationships.
• Other duties as assigned which may include taking a leadership role in researching and developing new segment opportunities.
• Participate in review and customer contact for underperforming loans and equipment leases with objective of obtaining payments or preparing assets for sale. Will partner with senior officer on assigned portfolio in the valuation and monitoring of assets.

Minimum Requirements

• Bachelor’s degree in Business, Accounting, Finance, Economics, or related field of study and five or more years of related experience; or equivalent combination of education and experience.

Competencies

• Aptitude for business development and relationship building required.  Prior sales or business development experience a plus.
• Proficient in Word, Excel, Outlook and PowerPoint.
• Basic knowledge of commercial cash flow and balance sheets preferred.
• Credit, general banking, and credit risk management exposure a plus.
• Professional demeanor with strong verbal and written communication skills.

Compensation & Benefits

Position pays a draw against commission.  Annual draw ranges from $60,000 - $150,000 dependent upon experience and proven performance.  Monthly commissions are paid based upon origination of loans and lease agreements that have been properly approved, closed, funded and executed in a calendar month.  Total compensation varies based upon individual performance; anticipated first year total compensation range is $60,000 - $150,000.00.  There is no cap on annual earning potential.

Old Second is committed to fair and equitable pay practices.  Pay is dependent upon the pay range and the incumbent’s knowledge, skills and experience. 

Benefits:  How We Support You - Old Second