Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. 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. For more information, visit cit.com.
The Central CCAR Office is the group that oversees the management, design, and execution of CIT’s CCAR and stress testing process and submission. The group is focused on establishing standards for best practice, accountability, and a strong capital adequacy process across the various Lines of Business (LOBs) involved. The Central CCAR Office works with a broad range of functions within CIT including key Risk and Finance teams in addition to the LOBs in order to ensure a robust process.