CIT Group Inc.

  • Associate

    Location US-NY-New York | US-IL-Chicago
    Job ID
    # Positions
    Job Family
    Originations Support - Underwriting
  • Overview


    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


    Reporting to the VP/Director/MD of Underwriting, individual will be responsible for
    • assisting deal teams with underwriting middle market corporate finance transactions in the Aerospace, Defense, and Govt. Contracting sector. These would include cash flow leverage loans to finance sponsor acquisitions in the sector, as well as asset backed loans collateralized by aerospace assets
    • assisting with portfolio management of existing accounts
    • preparing presentations and reports for regulatory and internal informational purposes
    • providing help with such other projects and assignments that the business needs help with
    Essential Duties:
    • New business - work independently, or with other members of the deal team (as needed), to evaluate new transactions, pre-screen transactions, conduct due diligence, prepare credit approval memos on transactions that are green-lighted in the pre-screen process, obtain credit approvals, and participate in deal closing.
    • Analyze financial statements and capital structures, prepare financial models, perform sensitivity / scenario analysis; conduct business/industry/competitor analysis to identify transaction risks and mitigants.
    • Manage assigned portfolio accounts - monitor performance and covenant compliance, complete PD/LGD updates, prepare trend cards and periodic/annual reviews, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to Porfolio Managers, identify and act on warning signals, 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, Environmental, as well as other departments such as Capital Markets, Corporate Risk Management, Compliance, Problem Loan Management, Loan & Risk Review, and Internal Audit.
    • Develop a deep knowledge of the aerospace and defense sector as well as of aerospace assets.
    • Interface with customers to complete diligence process, as well as to assist the relationship management efforts of the Originators.
    • Assist with preparation of reports for regulatory and internal informational purposes, as well as work on any special projects and task assignments, as per business needs.


    • Strong academic credentials; Bachelor’s degree with a concentration in finance or accounting preferred
    • 1-3 years of experience in the commercial lending industry; credit trained with some direct experience of underwriting and executing senior debt transactions
    • Must have a solid understanding of financial statements, proficiency in financial modeling, and strong analytical skills with an ability to question assumptions; highly proficient with MS Excel, Powerpoint, and Word
    • Strong communication and interpersonal skills; team player
    • Strong work ethic; positive attitude; self-motivated with high energy levels; ability to prioritize and multi-task effectively
    • Some experience of the aerospace sector is a plus, though not a requirement


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