Career Area:
Finance
Job Description:
JOB SUMMARY:
Exercise decision-making authority in the preparation and/or management of the negotiation, execution, booking, and funding of documentation packages for Cat Financial.
Transactions may include, but are not limited to, standard retail and direct lending transactions, corporate account and wholesale financing, construction (project financing), and retail floor-plan loans for U.S. and international transactions.
Coordinate documentation closing activities, including gathering and review of conditions precedent prior to funding. Subsequently, may coordinate with shipyards/OEMs and customers adherence to terms and conditions of the transaction documents.
JOB RESPONSIBILITIES:
Exercises decision-making authority in their day-to-day processes of preparing, reviewing, booking, and funding standard and non-standard documentation.
Reviews other team members' work for completeness and accuracy and provides additional guidance when necessary.
Utilizes Legal, Tax, and other support functions within Cat Financial, as needed, to ensure compliance with laws and regulations in multiple national and/or international jurisdictions.
Ensures that all conditions of the transaction credit approval and/or commitment letter are correctly documented in the documentation package for each transaction.
May draft and recommend necessary amendments of a basic level of difficulty to management and Legal.
May communicate with internal/external counsel and other pertinent internal/external parties as needed to prepare and execute the necessary documentation.
Gathers information to determine proper legal names, guarantors, authorized signers, and types of board resolutions required to complete transaction documents.
Typical financing documents may include loan/lease agreements, promissory notes, mortgages, security agreements, guaranties, assignments, and other transaction documents.
Ensures Cat Financial can obtain a security interest in financed equipment from Caterpillar dealers or other non-competitive equipment dealers or project construction contracts during construction. May draft amendments where necessary and recommend approval to management and Legal.
Explains documents and conditions precedent to funding to dealers, customers or shipyards/OEMs, negotiates documentation issues if needed, and approves exceptions to standard practice within authority level.
Confirms insurance coverage against standard requirements, follows up for any deficiencies, and may negotiate coverage to complete the document file.
May coordinate with management and insurance brokers to confirm that insurance coverage is adequate and that the approved carrier rating for the insurance company is acceptable.
May develop project construction milestone schedules with Credit Analyst.
May ensure the modification of contracts within the system where there are additional drawdowns and/or when there are principal payments submitted.
May implement calculations as applicable for each contract with variable interest rates.
May provide documentation for financial merchandising programs and work with Sales Support Representatives to help resolve grief items.
Participates in accomplishment of continuous improvement objectives for the department and progress toward accomplishment is measured through maintenance of necessary measurements and analysis of associated data.
Participates in the identification of opportunities for improvement and assists in the development of resolutions to address them.
Understands the Harassment policy of the company and is responsible for its application in all aspects of employment.
Understands Know your Customer, data privacy, Global Payment Authority, and 2-Factor Authentication to ensure compliance with corporate guidelines.
JOB REQUIREMENTS:
Demonstrated ability to apply leadership principles and techniques.
Demonstrated knowledge and ability to analyze problems, make decisions, and take measured risks, using available data.
Demonstrated ability to concentrate on results while being flexible to achieve goals.
Has a sense of urgency and willingness to accept accountability.
Proven ability to develop and maintain good interpersonal relationships, working effectively with others inside and outside the company.
Working knowledge and ability to prepare sound, legally enforceable contracts and supporting documents that accurately set forth the terms of the transaction on a timely basis.
Working knowledge and ability to provide guidance and apply problem resolution techniques to team members on transaction issues.
Knowledge of basic contract law.
Ability to draft letters, contracts, and other legal documents.
Knowledge of and demonstrated ability to apply financing and taxation principles.
Knowledge of Caterpillar products and their applications and markets.
Knowledge of Caterpillar customers and their industries.
Knowledge of financing and documentation principles.
EDUCATION/EXPERIENCE:
A 4-year college or university degree and a minimum of 2 years exempt experience in credit, customer services, collections, marketing, financial statement analysis and/or a related discipline is recommended.
Previous exempt experience must be progressively increasing in responsibility and accountability and demonstrate an ability to gain knowledge, skills, and responsibility such that a level of full competency can be reached.
Equivalent experience may be substituted for education.
EEO/AA Employer. All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.
