CIT Group Inc.

End of Lease Specialist

US-FL-Jacksonville
Job ID
29992
# Positions
1
Job Family
Asset Management - End-of-Lease
Type
Full-Time

Overview

About CIT

 

CIT (NYSE: CIT) was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas.  But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.

 

CIT is a financial holding company. It provides financing, leasing and advisory services principally to middle market companies across more than 30 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.

 

For more than 100 years, CIT has steadily innovated, providing carefully tailored financing solutions to meet the needs of a changing global economy. Along the way, CIT continually redefined what it means to be a financing partner, providing ideas as well as capital to build businesses – and relationships – that have endured for decades.

Responsibilities

POSITION DESCRIPTION

 

The primary function of the End of Lease Portfolio Specialists is to facilitate the sale or renewal of assets on contracts at or beyond the initial lease term through negotiation tactics and creative alternatives to lease termination. This position will be a member of the End of Lease Team within the Asset Management Department and will be dedicated to a specific market segment, such as Office Products or Tech Finance. The individual will manage an assigned set of accounts and will act as the primary contact for End of Lease related activities for multiple major vendor relationships.

 

Principal Duties & Responsibilities:

  • Takes ownership of all assigned vendor account relationships to become the single point of contact for front-end counter-part as well as specific contacts within the vendor for all Asset Management issues, questions or requests.
  • Have a good understanding of the dynamics of vendor relationships and ability to interact with sales and vendor representatives in a professional manner on all end of lease issues
  • Ability to balance managing new business opportunities while reaching income targets
  • Have a firm understanding of the terms and conditions of the lease documents for the assigned vendor programs specifically related to the customer’s end of lease options, and ability to accurately convey to customer, vendor or CIT sales reps.
  • Manage the end of term activities for all assigned accounts to enforce end of term obligations and provide all available options to generate increased residual realization
  • Successfully negotiate all end of term transactions to maximize the gain on sale results
  • Review all return and termination requests to develop a negotiation strategy that provides alternative scenarios to purchase or renew the assets and reduce incoming inventory levels
  • Identify opportunities within the end of lease portfolio to drive additional renewal income sources and maximize realization
  • Develop a firm understanding of the terms and conditions of the lease documents for the assigned vendor programs specifically related to the customer’s end of lease options, and ability to accurately convey to customer, vendor or CIT sales reps.
  • Follow-up on outstanding return authorizations to generate additional renewal income potential and maintain low delinquency levels
  • Successfully manage monthly work assignment/volume
  • Have a basic understanding of Office Technology Products and the determination of current Fair Market Value

Qualifications

QUALIFICATIONS

  • Ability to work effectively and efficiently in a fast paced environment
  • Excellent verbal, written and interpersonal communications skills required.
  • Strong negotiation skills with the ability to quickly comprehend, analyze and finalize sales transactions
  • Strong computer skills including accounting software, Word, Excel.
  • Strong organizational and time management skills with the ability to multi-task
  • Ability to explain the documentation requirements and overcome objections or obstacles on outstanding issues
  • Positive attitude, professional appearance and manner
  • College degree preferred or equivalent work experience
  • 3-5 years of financial services employment preferred (bank, leasing, mortgage, or sales)
  • Background in sales focused assignments
  • Strong sales negotiation experience, preferably in a financial services environment
  • Ability to analyze and research complex issues and provide resolution

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