Farmington Hills, MI, 48332, USA
17 days ago
Specialized Leasing Analyst
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. Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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