CIT Group Inc.

AVP, Accounting - Rail

Job ID
# Positions
Job Family
Finance - Accounting


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.


Participate in timely and accurate monthly closes and reporting results of the business.


  • Review data to be included in CIT’s 10-Q and 10-K.
  • Ensure key controls and processes for Rail North America Finance are operating and documented.
  • Prepare investor and securitization reports (monthly, quarterly, annual), and stand-alone audited financial statements of related entities as needed.
  • Prepare monthly report of covenant compliance, waterfall funds distribution, borrowing base, reserves, delinquencies and collateral.
  • Obtain supporting data from financial and operations systems, and from relevant area experts (e.g. maintenance, mileage, credit risk, documentation)
  • Reconcile and validate source data used in monthly reports and calculations
  • Calculate historical and projected compliance with loan covenants based on portfolio characteristics, income and expense flows, and lease turnover
  • Prepare journal entries associated with secured asset trust and other entities to facilitate reporting and recordkeeping
  • Prepare bank reports as needed.
  • Participate in the semiannual certification of PeopleSoft general ledger activity of the Business Unit.
  • Develop Rail specific accounting policy guidance, in consultation with Rail Finance leadership and with appropriate CIT Corporate experts.
  • Oversee annual asset impairment and residual reviews for Rail North America.
  • Partner with the business to improve controls and processes.
  • Respond to queries regarding portfolio data. Conduct research and prepare analysis as necessary.
  • Participate in annual planning and periodic forecast development and presentations.
  • Prepare monthly cash forecast submission.
  • Work with internal and external auditors, bank and holding company regulators, and Sarbox and other examiners.
  • Some travel may be required.



  • Accounting or Finance Degree
  • CPA or MBA preferred
  • 3+ years experience
  • Background with financial industry, leasing
  • Strong PC skills, especially Excel 
  • Experience with PeopleSoft general ledger, Hyperion Essbase and InfoLease beneficial.


In addition, the ideal candidate should possess the following qualities:


  • Strong project management skills
  • Effective organizational and communication skills
  • Strong problem solving and analytical skills 


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