Specialized Leasing Analyst

Comerica Bank
$550MM lease portfolio of 150 customers on 650 Lease schedules.
life insurance, parental leave, paid time off, sick time, 401(k)
United States, Michigan, Farmington Hills
Dec 30, 2024
Specialized Leasing Agent The specialized Leasing Analyst is responsible for all aspects of Lease (True, Leveraged and Conditional Sale) servicing from booking leases, documentation custody and management, generating and mailing invoices, providing annual asset reporting to all jurisdictions for the assessment of property tax that is tracked, collected, and remitted, tax reporting (1041) and sales/use tax collection and administration for numerous state/localities, insurance and UCCs monitoring. Provides administrative support to Lease officers. Position Responsibilities: Independently review Lease Documents for proper format, completeness of information, verify supporting documents meet Comerica's credit policy and LTS procedures and track and work with Lease officers to cure all document exceptions. Book Leases on InfoLease, perform Document Administration and management using FileNet. Responsible for the tracking, management, physical custody, and retention for all original Lease documents. Perform all required Tax tracking, reporting, collection, and tax payments (Property/Sales/Use/1041). UCC and Insurance Tracking to preserve Comerica's interest in the leased property. Accurate and timely Invoice generation and rendering, ad hoc, monthly, quarterly, annual report generation and distribution to Lease officers, Corporate Tax, Finance, etc. Payment collection and processing to InfoLease and weekly reconciliation of all payments processed to the InfoLease payment application report, including non-accrual and charge-offs when indicated. Process dispositions and valuation writedowns, as needed. Provide all aspects of administrative support to Lease Officers including preparing buy out quotes, InfoLease system information on specific leases, duplicate invoice generation, emailing invoices to lease customer, etc. National support and servicing of Comerica's growing $550MM lease portfolio of 150 customers on 650 Lease schedules. Extensive tax related responsibilities which include Understanding and identification of required rates to apply in InfoLease based on the geo code/location of the leased property to correctly collect the proper amount of sales/use tax for remittance to taxing jurisdictions. Personal property tax activities include Reporting valuation and location of all True Lease related equipment timely and accurately on renditions. Track and review tax assessment and dispute errors before annual property tax bills are generated. Track all tax bills, invoice customers for property tax and remit to jurisdictions timely and accurately to mitigate penalties and interest losses. Prepare 1041 Income Tax Return for Estates and Trusts for over ten leases Failure to complete Servicing activities timely and correctly could result in errors in Comerica's financial statements or negatively impact our lease customers. Tax activities above could result in penalties and interest assessment resulting in financial losses. Position Qualifications: Associates Degree or 2 years of relevant experience OR High School Diploma/GED 4 years of Lease or Loan servicing experience 2 years of Complex problem solving in fast paced environment 2 years of Customer Service/Liaison experience 2 years Tax related experience (sales/use, personal property) 1 year Non Accrual and charge off experience a plus Work Best Category: Category C - Days in the office will either be designated days or will vary week to week from 2-5 days Hours: 8:00am - 5:00pm Monday - Friday Salary: To Be Determined Based on Individual Experience About Comerica We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure. Upon offer, Comerica conducts a comprehensive background and fingerprint check. NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act. Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.