Asset finance helps businesses obtain the equipment or resources they need. If you’re good with people and enjoy negotiation, a career in asset finance could be for you. This page covers all you need to know about becoming and working in asset finance, including skills and qualifications.
What is asset finance?
An asset is typically something valuable that the lender can convert to cash. In some instances, instead of opting for a loan from a provider, a business might use one of their ‘assets’ as security.
What does an asset finance manager do?
Essentially, as an asset finance professional, you help businesses grow and meet their goals. You need to be able to build a good understanding of the financial status of a business and how to help elevate them to where they want to be.
A typical day might include talking to small businesses about the funding they need and negotiating with lenders on their behalf.
If you work in asset recovery, you’ll be finding ways to retrieve assets when your client is unable to make payments. You might also take on a credit underwriting role, where you’d be responsible for making sure your client can afford the arranged payments.
What do you need for a career in asset finance?
You need strong interpersonal skills to form key relationships with clients and lenders.
One way to set yourself apart is to consider doing professional qualifications, such as our Level 5 Diploma in Asset Finance (DipAF) which we created with The Finance and Leasing Association (FLA). This will give you a better understanding of the industry including relevant regulation, economic and social trends, and legislation.
Preeti Arora, Fraud and Financial Crime Manager, at Hitachi Capital Finance and has completed DipAF.
“The breadth of knowledge it provides you does give you a head start, especially for someone like me who was at the beginning of her career,” she says, adding “It proves to managers that you’re committed to the company and want to build a career there.”
And DipAF allowed to her expand her role and responsibilities.
“I was able to get involved in things that without such a wider knowledge, I probably wouldn’t have had the remit.”
Find out more about our Diploma in Asset Finance (DipAF)