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 principal focus of a Senior Relationship Specialist is to support and manage specific relationships and/or structures within the Lender Finance business unit. Senior Relationship Specialists are responsible to fully understand and manage each of their assigned primary and secondary relationships through the full transaction lifecycle, have in-depth knowledge of both the underlying program agreements and various LF deal structures. They have responsibility for certain functions at onboarding and originations as well as ongoing portfolio/relationship management. The individual will ensure adherence to program parameters, established risk controls, policies& procedures, and manage to various targets set for portfolio delinquency, charge-offs and EOL realization, as well as support for meeting new business volume targets. A Senior Relationship Specialist is expected to utilize critical thinking skills and independent judgment to recommend solutions and resolve partner servicing issues at all stages. As primary relationship manager, they must effectively communicate with the partners on an ongoing basis as well as with all internal groups providing functional support (i.e. Sales, Credit, Legal, Tax, Asset Evaluations, Ops, and Accounting).
* Performs day-to-day activities that ensure effective management of all accounts and superior portfolio performance
* Establishes strong working relationships with each partner to proactively resolve all issues; understanding of the partners internal processes
* Cash Management - Liaison with cash operations, provides detailed direction regarding cash application, research and reconcile misapplied or payment issues, would also manage unapplied cash suspense; management and analysis of “Excess Pool” accounts including recommendation to partner on effective utilization of the proceeds
* Performs originations audits and account reconciliations using current and historical payment history analysis to maintain accuracy within the portfolio and internal compliance
* Monitors and escalates changes in customer financial status and payment patterns to mitigate losses for assigned portfolios; participation in Loss Mitigation meetings with Credit
* Responsible to manage EOL activity with the partners to maximize realization and minimize losses, hit targets; includes calculating and providing buyout quotes as needed; analysis of remarketing proceeds being offered, engaging with Evaluations team as needed and providing approval based on parameters set
* Communicates via phone conversations, email, and letters with partners concerning performance of respective portfolio in regards to delinquency, loss mitigation, workout matters and EOL realization
* Generates, analyzes and distributes monthly reports externally, per program agreement requirements
* Participation, as required, as Operations representative, in conjunction with Vendor Credit team, in semi-annual or annual vendor audits and program reviews
BS/BA degree preferred
1-3 years inside sales, customer support or customer service.
KNOWLEDGE/SKILLS & ABILITIES:
- Committed, Smart and Problem Solver
- Intellectually curious about our business, our customers and focused on finding the best solutions.
- Exceptional communication skills: Verbal and Written.
- Excellent negotiation skills - Sales or Customer Service experience preferred
- Function well independently and in a team orientated environment.
- Comfortable forming strong and lasting relationships with customers over the phone.
- Professional and Energetic when dealing with customers; leaving them with a positive experience/impression of CIT.
- Prioritize work and quickly evaluate a situation to find the best solution for customers and CIT.
- Ability to take constructive critique and implement training concepts into your own voice.