- Entry level
- No Education
- Salary to negotiate
Volvo Financial Services (VFS) is the captive finance arm of the Volvo Group, one of the world’s leading providers of commercial transport solutions. The company provides financial services for the truck, construction equipment, bus, aerospace and marine industries. The primary brands it supports are Volvo Trucks, Volvo Construction Equipment, Mack Truck and Prevost Bus. VFS creates value for Volvo Group customers by providing solutions including customer financing and leasing, dealer financing, and other fee-based products, such as insurance. Financial services are delivered to customers through VFS with Volvo Group dealers, allowing customers to enjoy the benefits of a convenient, and one stop-shop experience.
The Remarketing and End of term Specialist is responsible for management of the Asset Remarketing process, the End of Term Contracts for leasing portfolio of VFS and to provide Customer Service on the Truck, Construction, and Coach Retail portfolios supporting VFS’s missions, goals, and objectives. The position within VFS Canada Inc. (“VFS”) reports to the Director Operations.
Manage Repossession functions, which would include, but not limited to:
Maintain contact listing of repossession agencies and ensure valid contract and insurance coverage is on file and up-to-date;
Prepare file for equipment assigned for repossession;
Facilitate the repossession by assigning files to bailiffs or outside legal counsel in accordance to applicable provincial laws;
Arrange for transport & storage of assets to Dealer/Safe Haven, and obtain condition reports;
Send notices of sale to all required parties;
Process payment of liens, bailiffs and other charges.
Manage Remarketing of repossessed and returned assets, by performing, but not limited to, the following functions:
Ensure all assets are inspected to a sufficient level to establish a proper market value;
Establish any reconditioning or repairs necessary to maximize resale value;
Monitor market place trends for equipment values and act as the In-house expert for OEM used equipment values.
Establish remarketing values for all inventory assets utilizing industry tools (Blue Book, Green Guide, etc.) and publications (auction results, trade publications, etc.), and historical VFS remarketing data;
Manage/update Remarketing Database/Artiva and Remarketing Web-site(s) as required;
Ensure available inventory information is communicated to OEM’s, and Dealer/Wholesale Customers, and negotiate prices for eventual sale;
Monitor inventory aging, identifying inventory to be sold at auctions to maintain max. aging of 150 days;
Process all remarketing vendor invoices;
Assist in the establishment of quantifiable metrics to measure success and identify improvement areas in the Remarketing cycle, and applicable reporting.
Manage the Lease Residual and Loan Balloon “End-of-Term” processes, by performing, but not limited to, the following functions:
Prepare mailings for the 180 and 90 day End of Lease remainder letters;
Follow-up of End of Term account maturities in a timely manner;
Register the customers’ intention within the system of records;
Collect extension/rental payments and other charges where applicable;
Arrange for inspection on equipment being returned to ensure compliance with end of term lease requirements;
Collect charges for excess mileage/hour and trade term deficiency payments where applicable;
Negotiate and structure refinancing terms and pricing with customers prior to lease maturity;
Credit submittal of End of Term refinancing prospects;
Coordinate applicable asset returns/contract extensions with OEM’s & Customers;
Bill & collect payment of Shared Risk Transaction obligations from OEM’s & Dealer Customers.
Coordinate inventory sales, which would include, but not be limited to:
Issuance of Bills of Sale;
Provide “ownership” documentation;
Collect guaranteed funds;
If financing of sale requested, coordinate with both Credit & Operations departments.
BA/BS in Business or related field, mechanical certification, or equivalent work experience in the transportation service industry.
3-5 years in the transportation services industry.
1-3 years experience in sales and marketing of retail and wholesale capital goods.
Excellent organizational skills, with the ability to prioritize and work effectively on multiple tasks in a fast paced, demanding
About the company
The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, with its headquarters in Gothenburg, employs about 100,000 people, has production facilities in 19 countries and sells its products in more than 190 markets.