CIT Group Inc.

Sr. Analyst

US-CA-Santa Monica
Job ID
29736
# Positions
2
Job Family
Originations Support - Underwriting
Type
Full-Time

Overview

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.

Responsibilities

Loan Underwriter is responsible for underwriting commercial real estate loans across the Western United States. This position will also be assisting with asset management of the existing loan portfolio. The Real Estate Finance group is originating primarily bridge loans on transitional assets in the $20 million to $100 million range. The Group is also lending on loan portfolios acquired by major private equity firms.

– Analyzes local market conditions to determine demand and supply fundamentals of hotels, office building, apartments, retail, and industrial properties
– Evaluates the subject property’s position within that market to determine multi-year forecast of net operating income cash flow and capital expenditures
– Reviews historical operating information and forecast future projections
– Drafts loan approval memos
– Coordinates due diligence with third party providers (e.g. appraisals, property condition reports, etc.)
– Reviews and analyzes due diligence findings
– Coordinates with loan closing team as appropriate and works with loan servicing
– Participates in loan agreement negotiations, site tours and credit committee meetings
– Provides business unit support for portfolio management of loans post origination
– Assists with deal tracking and risk tracking via various programs (e.g. Salesforce and Risk Origins)

Qualifications

Bachelor’s degree required

– Must possess some knowledge of financial modeling and real estate valuation; should possess strong Argus and Excel modeling skills
– Must be a experienced professional with 2+ years of experience in commercial real estate acquisitions, loan underwriting, asset management and/or real estate investment banking
– Must possess the ability to provide comprehensive, analytical and thoughtful recommendations on highly structured real estate loans
– Ability to perform clerical and statistical work requiring speed and accuracy

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