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.
Reporting to the group President, individual will be responsible for underwriting as well as portfolio management of aircraft secured loan transactions and assisting with the preparation of presentations and reports for regulatory and internal informational purposes.
• New business - evaluate new transactions, including the analysis of financial statements, capital structures, and the business/industry/competitor landscape to identify transaction risks and mitigants and recommend transaction structures appropriate to the opportunity; pre-screen transactions, conduct due diligence, prepare credit approval memos on transactions that are green-lighted in the pre-screen process and present transactions to credit committee in order to obtain credit approval.
• Manage assigned portfolio accounts - monitor performance and covenant compliance, prepare trend cards and periodic/annual reviews, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to managers, identify and act on warning signals and participate in portfolio reviews as needed.
• Maintain familiarity with CIT policies, procedures, and underwriting standards.
• Interface with other parts of the business, such as Legal, Operations, Insurance, Capital Markets, Corporate Risk Management, Compliance, Problem Loan Management, Loan & Risk Review, and Internal Audit.
• Develop industry knowledge in the aviation sector, including airlines, lessors and suppliers as well as specific to aircraft.
• Interface with customers to complete due diligence process as well as to assist the relationship management efforts of the Originators.
• Interface with and independently manage information requests received from auditors and loan examiners (internal as well as external, including regulators), prepare reports for regulatory and internal informational purposes,and work on any special projects as per business needs.
• Bachelor’s degree with a concentration in finance or accounting preferred. MBA/CFA a plus.
• 3-5 years of experience as a senior underwriter in the commercial lending industry; credit trained with direct experience of leading the underwriting and execution effort on senior debt transactions.
• Airline/aircraft industry knowledge or industry experience preferable. • Must have a solid understanding of financial statements and capital structures, strong analytical skills with an ability to question assumptions and experience with structuring transactions.
• Strong communication and interpersonal skills; team player.
• Self-motivated with high energy levels; ability to prioritize and multi-task effectively.