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 Vice President of Equipment Management will have primary responsibilities within CIT Capital Equipment Finance (“CEF”), with a strong emphasis on equipment research, trends, valuation analyses, and evaluation of new equipment target markets. CEF is looking for an individual who is detailed oriented and possesses strong communication and analytical skills. Responsibilities include:
• Providing residual and collateral evaluations on new and existing lease and loan transactions for a diverse group of assets which include; over-the-road vehicles, business aircraft, manufacturing equipment, marine, medical equipment, food processing machinery and equipment, construction equipment, etc.
• Conducting industry and equipment analyses.
• Developing and presenting collateral value analyses to CEF Credit Committee and Senior Management.
• Ability to interact with third party vendors and appraisers.
• Managing / arranging and performing on-site equipment inspections.
• Working closely with CEF Credit, Risk and Portfolio Management Teams. Providing structuring advice accordingly.
• Providing, reviewing and negotiating MLA / Schedule maintenance and return provisions as necessary,
• Assisting with the maintenance of department policy and procedure manuals.
• Providing assistance to portfolio management with the repossession and sale of distressed assets as well as assets returned through the normal course of business.
• Assisting AMG Director with both annual collateral reviews for credit and portfolio management as well as the annual ASC 840 Annual Residual Impairment Review.
• 8+ years of relevant work experience in equipment finance or asset management
• BA or BS degree in a related field.
• ASA Certification is a plus.
• Strong analytical and problems solving skills.
• Ability to express findings in a logical and organized manner.
• Ability to meet deadlines.