Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
The Recovery & Resolution Planning Office is seeking an experienced Project Manager for a newly created position to assist CIT in preparation of the Resolution Plan which the Company must submit to the Federal Reserve Board and the FDIC as a result of CIT’s designation as a systemically important financial institution under the Dodd-Frank Act. The successful candidate will report to CIT’s Recovery and Resolution Plan Officer and will be member of the firm wide RRP core team.
The RRP Office Program Manager will be responsible for ensuring a robust and repeatable management structure around the strategy, production of regulatory deliverables, and tracking a range of initiatives which enhance resolvability.
This position offers a unique opportunity to learn about CIT and to work directly with colleagues from a diverse set of disciplines and businesses. As part of the cross-functional RRP core team, the Program Lead will be part of the team that develops, revises and maintains CIT’s Recovery and Resolution Plan. This involves understanding and explaining the company’s material businesses and operations; as well as its financial and operational interconnections and dependences. RRP involves not only mastering and presenting factual information under legal constructs and executing initiatives to enhance resolvability but also devising strategies and advocating the CIT’s position to regulators.
• Developing a deep understanding of the Recovery and Resolution Plan objectives and strategies so as to guide and lead other parts of the organization;
• Driving the annual roadmap of activities both for production of RRP materials and driving initiatives which enhance resolvability;
• Creating, maintaining, communicating and tracking the detailed work-plan, including a resourcing/budgeting plan, and major milestones;
• Building project management discipline through the application of tools, templates, and facilitating the execution of the work plans;
• Updating and maintaining documentation to support the RRP, including sections associated with Plan Governance, Management Information Systems and ancillary sections including Contact Information, Index, Glossary and Rule Mapping
• RRP document management, including version control, issue management and follow up and open data needs;
• Leading team meetings, as required, to discuss status, progress, and to remove roadblocks to achieve key milestones and objectives;
• Providing oversight on specific recovery and resolution improvement measures;
•5+ years of relevant experience in leading large programs to a successful conclusion.
• 3+ years of relevant experience in financial regulatory projects/programs.
• Experience of working within the Front-Office, Treasury, Operations or Finance functions in a senior leadership role.
• Ability to interact with senior stakeholders and team members across all areas of the company.
• Ability to remain calm under pressure and cope with difficult and changing scenarios.
• Familiarity with significant regulatory changes.
• Excellent analytical skills.
• Excellent written and verbal communication skills.
• Tools: Excel, PowerPoint, Word, (WDesk experience a plus).