Milestone Bank · 7 hours ago
Director, Equipment Valuation & Residuals
SLC Metro Area
Full-time
Hybrid
Mid, Senior Level
7+ years expMilestone Bank is seeking a Director, Equipment Valuation & Residuals to serve as the in-house expert for valuing equipment collateral and managing residual values across their Equipment Leasing and SBA portfolios. This role involves collaborating with various departments to deliver appraisals, residual analyses, and market-based strategies to enhance credit decision-making and asset recovery.
Customer ServiceFinanceFinancial ServicesRetail
Hiring Manager
Kristin Saracevic
Responsibilities
Produce independent equipment appraisals for new originations and renewals, including Fair Market Value (FMV), Orderly Liquidation Value (OLV), and Forced Liquidation Value (FLV) as required, including accurate estimations for removal, repossession and storage costs
Build and maintain depreciation curves and residual value models by asset class; run sensitivity and scenario analysis for tenor, usage, condition, and market volatility
Recommend deal-level residuals and structure (e.g., FMV, $1 buyout, TRAC variants), including guardrails and approval thresholds aligned to Credit Policy
Draft concise, audit-ready appraisal reports that allow underwriters to decide quickly; document assumptions, comps, and data sources (e.g., auction/sales comparables, OEM pricing, fleet/telematics data, appraisal databases)
For SBA transactions, prepare collateral valuations and file documentation aligned with current SBA SOP requirements and internal SBA procedures
Participate in credit committees to explain valuation logic and market dynamics; advise on covenants, usage limits, maintenance standards, and insurance requirements that protect asset value
Conduct periodic re‑valuations and trigger-based reviews (market shocks, tech obsolescence, regulatory changes)
Track residual risk vs. plan; including industry, equipment types, geography, and end‑market
Embed valuation insights into portfolio stress tests, expected recovery assumptions, and loss forecasting (e.g., CECL inputs, where applicable)
Publish market bulletins to underwriters and relationship teams on pricing trends, supply/demand, and auction velocity by asset class
Partner with Workout/Collections globally to design remarketing strategies (auction, broker, redeployment, trade‑in, export) that maximize net proceeds and minimize cycle time
Negotiate end‑of‑lease settlements and payoffs, set and satisfy residuals at maturity, and manage early terminations and voluntary surrenders within delegated authority
Coordinate with Legal on repossession, title/UCC matters, lien releases, chain of custody, and bill of sale; provide valuation support for litigation or settlements
Select, engage, and performance‑manage third‑party appraisers and remarketers; ensure competitive bids and transparent fee structures
Maintain independence from origination/sales influences; operate to bank appraisal and model governance standards
Own policies/procedures for equipment appraisal and residual setting; ensure documentation is exam- and audit-ready
Manage the residual valuation model life cycle (data, methodology, performance monitoring, and periodic validation in partnership with Model Risk Management)
Uphold SBA documentation standards and any applicable regulatory or internal policy requirements for collateral valuation
Create playbooks and quick-reference guides for major equipment classes (condition grading, inspection checklists, valuation drivers)
Train underwriters, portfolio managers, and workout specialists on equipment value drivers, depreciation behavior, and resale channels
Build a global network of OEMs, dealers, auction houses, and brokers to continuously source data and disposition channels
Qualification
Required
7–10+ years in equipment appraisal/valuation within bank leasing, asset finance, remarketing, or related credit/risk roles
Demonstrated experience setting and managing residuals and supporting end‑of‑lease negotiations and dispositions
Strong grasp of collateral types common in commercial equipment finance (e.g., construction, transportation, manufacturing/metalworking, medical, technology)
Proficiency with valuation data sources (auction/sales comps, OEM lists, dealer quotes, telematics, market indices) and advanced Excel/Sheets; comfort with BI tools
Clear, concise report writing; ability to defend assumptions with data to credit committees and auditors
Experience partnering with Workout and Legal on repossession and disposition; familiarity with UCC/title practices
Working knowledge of lease structures and accounting concepts (e.g., key implications of ASC 842 on residuals and classifications)
For SBA: familiarity with current SBA SOP collateral valuation documentation for equipment within 7(a)/504 processes
Experience building/maintaining residual value models and documenting them to bank model risk standards
Proficient in Microsoft Office Suite or related software
Bachelor's degree in Finance, Economics, Engineering or related; Master's a plus or equivalent combination of education and extensive experience
Strong knowledge of bank core systems experience required
Comprehensive understanding of deposit regulations (Regulations CC, DD, D, and Reg E)
Proven ability to lead and manage operational processes effectively
Strong analytical, problem-solving, and organizational skills
Proficiency in Microsoft Office Suite and operational reporting tools
Experience with process automation and workflow optimization
Excellent communication skills for cross-functional collaboration
Ability to manage multiple priorities in a fast-paced environment
Strong customer interaction skills
Ability to build and scale deposit operations, set and achieve goals, continual process improvement, and inspire high performance
Strong decision-making skills with a balanced approach to risk and growth
Exceptional interpersonal and communication skills to engage with executive stakeholders, clients, and referral sources
Strong organizational and project management skills to oversee deal flow, team operations, and performance
Collaborative mindset
Knowledge of banking regulations, audit processes, and management-level reporting requirements
Commitment to ethical standards, transparency, and sound governance practices
Must be willing to travel when needed
Preferred
Professional appraisal credentials such as ASA (Machinery & Technical Specialties – MTS) or CEA (or progress toward credential)
Company
Milestone Bank
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51-200 employees
Funding
Current Stage
Growth StageTotal Funding
$20MKey Investors
Virgo Investment Group
2013-11-21Private Equity· $20M
Leadership Team
John Kemp
Chairman and CEO
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