Posted by on January 14th, 2010 — Posted in International Leasing
The ‘IT Business Analyst – Leasing’ determines business requirements, formulates automated and process-based solutions, and interfaces with vendors and programming and IT support staff in order to optimize the use of the IDS InfoLease lease enterprise system. Based on extensive industry experience, the analyst acts as a trusted adviser for all aspects of the leasing business, including complex accounting topics (especially tax) for a diverse variety of mid-ticket and large-ticket lease types, asset management, portfolio administration, and risk management/credit, in reviewing usage of the InfoLease system, determining and implementing required changes, and assisting the business with system functionality. The analyst identifies and ensures enforcement of system controls, including Sarbanes-Oxley-related.
Analyze complex business situations and problems, develop and ensure sufficient testing of optimal solutions, and communicate effectively with internal customers, programmers and IT support staff, auditors, and vendors. Manage large and small projects. Effectively multi-task in a dynamic environment. Recommend value-added business procedure and policy changes within a complex leasing business. Ensure effective controls for financial reporting integrity and efficient internal system usage. Assist with booking and maintenance of complex leasing transactions.
Provide direct interface for internal customers to identify, architect, and document automated, policy, and procedure improvements; differentiate needs from requests; identify innovations; interface with programming staff and vendors to improve system usage and ensure maintenance of control environment. Ensure proper system configuration in support of complex leasing tax structures. Work independently, as part of a team, or as leader of cross-functional team as needed. Provide written documentation (e.g. via requirements definition, business case analysis, functional definition, solution assessment, test strategy), design workflows, deliver presentations, conduct meetings, manage projects and associated documentation, to accomplish required results. Ensure appropriate user roles and data access within systems..
Bachelor’s degree required; MBA preferred. Minimum 7 years InfoLease experience, including small-, mid-, and large-ticket. Experience with and deep understanding of complex lease accounting, tax, operations, risk, and asset management items including depreciation, residuals, reserves, and a wide variety of lease types. Very strong business analysis and written and verbal communication skills. IT skills including knowledge of SDLC. Project leadership experience, including large projects. Experience with and ability to communicate with technical and non-technical colleagues, including executives.
Must be a team player willing to share expertise and develop colleagues. Apply iterative as well as structured software development approaches. Apply of a variety of requirements engineering/management techniques. Develop IDS Rapport-based origination solutions and enhancements.
All resumes to be sent to: joanne.luccarelli@siemens.com
Posted by on November 30th, 2009 — Posted in International Leasing
Does anyone know of a deactivated equipment leasing website that may be for sale. I do not need a web address, just the website. Thanks much….
-Tom
Posted by on November 21st, 2009 — Posted in International Leasing
I have several companies looking to finance their residential clients with new solar energy systems. My contacts are with commercial/business financing and leasing and not with residential. Does anyone have a good lending source? Contact me directly. Thank you!
Posted by on November 3rd, 2009 — Posted in International Leasing
Let’s turn the clock back 3 years, a time when the financial services sector was still very sure of itself and could do no wrong….do you remember those days?
Well 3 years ago, a new web service was conceived, a service that would create networking opportunities for everyone in the leasing industry, not just the principals or executives but everyone, regardless of function, seniority or country. An inclusive network where everyone had a voice.
This was the vision behind theLeaseBlog.com, which started life as a Blog and then quickly developed into a full function online business network. It quickly became a major web destination for over 2,000 members and many more interested parties, who connected with fellow like minded professionals, shared ideas and thoughts, looked for help locating funding sources and reviewed the job board and leasing directory.
theLeaseBlog was the first Leasing inspired network/group on Linked-in, Plaxo, Xing and facebook….and has led the way in online networking for our industry, inspiring many copy-cat groups who are now propogating themselves on the online networks.
The key question I have been asking myself is:
How should theLeaseBlog develop further ?
….. innovation, speed and enthusiasm has always made it more nimble than the traditional magazine based journals….a positive side effect of running the site from my spare room, without any corporate governance.
However, with constraints now on my time, I feel the time has come to pass the baton onto someone who can provide the energy and drive to maintain theLeaseBlog as the premier online leasing community and to develop it further in the years ahead.
Therefore, with mixed feelings, I have decided to sell theLeaseBlog.com and am now searching for the right person/organisation, who shares the same passion for our industry and can develop the community going forward.
Interested parties can contact me on either my e-mail editor@theleaseblog.com or call me on +44 (0)7917 686 921.
It has been a wonderful experience and I thank everyone who has supported my efforts over the last 3 years….you know who you are and there are too many of you to mention by name.
Many thanks
Brian Whelan
Editor @ www.theLeaseBlog.com
Posted by on October 25th, 2009 — Posted in International Leasing
I work with several lighting companies and need a lender which will fund retrofit lighting projects which are under $100K. The lighting retrofits include the vendor going into warehouses and retail stores and installing new lighting hardware, LED lights and other related fixtures. Many deal requests are coming in at 40, 50 and 60K from potential clients which are A and B credits. I’m in California and the deals are throughout the U.S. Let me know. Thanks!
Posted by on October 11th, 2009 — Posted in International Leasing
Banks and institutional sources are actually starting to fund transactions in the $500,000 to $2,000,000 range on a limited basis. Charge – offs are down, or at least reserved for adequately, and run-off is killing returns. Credit requirements are very conservative, back to what I call “1970’s Bank Credit Manual” loans. Most approvals are for 75% LTV’s with shorter terms. Credit scores for guarantors (there are no non-recourse deals out there) better be 700 plus. Tangible net worth needs to be 2 to 3 times the advance and coverage at 1.15X or better.
That’s the tough news. The good news that rates are in the 6% to 8% range, including fees.
Anyone else seeing a crack in the window? Or am I dreaming?
Posted by on October 7th, 2009 — Posted in Auto Leasing
You’ve come to the end of your lease and you like you car enough you want
to keep it in the driveway. Just like buying a used car, there is some
research to be done to nail a good deal. These following are some advices
showing how to make a good desision.
First, you need to know the cost of buying out your lease. Read the fine
print of your contract and look for the “purchase option price”. This
price is set by the leasing company and usually comprises the residual
value of the car at the end of the lease plus a purchase-option fee
ranging from $300 to $500. When you signed on the dotted line, your
monthly payments were calculated as the difference between the vehicle’s
sticker price and its estimated value at the end of the lease, plus a
monthly financing fee. This estimated price of the car value at the end
of the lease is what is termed in leasing jargon “residual value”. It is
the expected depreciation – or loss in value – of the vehicle over the
scheduled-lease period. For example, a car with a sticker price of
$40,000 and a 50% residual percentage will have an estimated $20,000
value at lease end.
Now that you know the cost of buying out your lease, you need to determine
the actual value, also termed “market value”, of your vehicle. So, how
much does your car retail for in the market? To pin down a good, solid
estimate you need to do some pricing research. Check the price of the
vehicle, with similar mileage and condition, with different dealers. Use
online pricing websites, such as Cars.com, Edmunds.com and Kelly Blue Book
for detailed pricing information. Gleaning pricing information from various
sources should give you a fair estimate of your vehicle’s retail value.
All you have to do now is compare the two amounts. If the residual value is
lower than the actual retail value, than you’re into a winner.
Unfortunately, there is a good chance a car coming off a lease is a little
on the high side.
Don’t despair though. Leasing companies know as much that residual values
on their vehicles are greater than their market value and as such are
always on the look out for offers. You can knock down on the price of your
leased vehicle with some smooth negotiating tactics. Put forward a price
that is below your actual target and negotiate hard until you wind up near
that figure.
Posted by on October 7th, 2009 — Posted in Auto Leasing
When leasing a car, it’s easier to stick with the same company for your
auto insurance. What you don’t know, however, is that you may end up
paying too much for your coverage and it’s better to look elsewhere for
lower rates.
When you lease, the vehicle that you will drive belongs to the leasing
company. They want to make sure that their investment is covered in the
event the vehicle gets damaged, totalled or stolen. They typically want
to get covered for the difference between what your auto-insurer pays and
your outstanding leasing obligations at the time of the accident or
damage. This is called GAP, short for Guaranteed Auto Protection, and is
usually included in the leasing contract.
If your leasing company is called BMW Financial Services, Chrysler
Financial or any other finance division of an automaker, then chances are
your GAP insurance will be offered by the same lease company.
You are under no obligation to accept GAP insurance included as part of
your lease agreement. Why pay an insurance premium if you could get the
same coverage for a lower price?
Invest some time shopping by comparing quotes from other insurance
companies, including your existing one. Ask for discounts that you already
qualify for and adjust your coverage accordingly.
Posted by on October 7th, 2009 — Posted in International Leasing
- more intelligent use of scorecards
- coherent IT platform fit for purpose
- incorporation of addtional more relevant underwriting criteria
- cost effective distribution and handling of micro payments
- mobile phone payments
- margins that cover costs
How many of these does your company do effectively?
Posted by on October 7th, 2009 — Posted in International Leasing
I have a long time relationship with a very respectable MFG. I am purposely holding back some of the info on them as I do not want to risk someone trying to step in and take this relationship by my offering too much info on this post. They are World Wide but I am only working on the deals here in the US. Not that I wouldn’t want to be party to te ones outside of the US mind you.
This MFG has used me for a few years while using their primary source simultaneously. I have been presented with the opportunity to step up our exposure with this group. This would be approximately 1900 applications per year averaging $20,000 – $150,000 per deal, in the US.
Being a broker, I can handle the ones that “Fall Through the racks” by taking those applications to the appropriate funder such as Pawnee and FinPac etc… but I need a funding partner that will recognize how important a relationship this can be and can give special preference to this relationship in regards to fast turn arounds, buying guidelines etc… Not that I am asking for this partner to buy down to 600 mind you. I just am not looking for a partner that will “Skim the Cream Off the Top” and pass the under 700 scores back indicating that they are not good deals.
Is there a funding partner out there that would be interested in working with a broker that has such a relationship in place. If so, I am looking to get something lined out right away.