CIT Group Inc.

AVP, Asset Valuation

Location US-FL-Jacksonville
Job ID
30185
# Positions
1
Job Family
Asset Management
Type
Full-Time

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 cit.com.

Responsibilities

Provide collateral value analysis for new business programs, matrix residual pricing, one off special bid analysis and valuations for remedial and impairment reviews.

AVP Asset valuations is to interact with Asset Management, Risk, Originations, Sales and Pricing.
• Ability to train, motivate and develop team members
• Proven ability to work with other business segment, risk and functional managers.
• Develop, maintain & expand network of industry contacts to provide knowledge sources for various industry developments, trends and values including; Technology, OP, Light Industrial, Construction, Material Handling, Healthcare and Diversifed industry segments.
• Research and develop current and future equipment Fair Market Value’s and Liquidation Values. Have solid knowledge of financial products used by the business and the required residual and collateral risks/rewards inherent in each product.
• Determine and recommend asset management related transaction documentation requirements.
• Understand Program and Deals Structuring and recommend appropriate structures to manage the risk/reward trade-offs required by the program and deals.
• Develop and Analyze portfolio, program and transaction performance.
• Perform Residual Reviews and determine appropriate classification of Residuals.
• Recommend Residual Values and associated rules for applying Residual Values (transactional and actuarial).
• Provide Collateral Values as required to meet the needs of the transaction including OEC verification.
• Monitor New Business Volume after it is booked to ensure the appropriate application of residuals to individual transactions.
• Participate in new business development initiatives

 

 

Qualifications

• College degree preferred or equivalent work & training experience.

• 5+ years experience in multiple asset management functions or equivalent experience (Evaluations, End of Lease & Remarketing)
• 3+ years experience in residual valuation and program/deal structuring experience across various equipment types and business segments, and target market customers or, at a minimum the same experience in the specific equipment types approved for the specific designation.

• 5+ years of experience across a wide range of assets classes or specific experience in Technology, Office Products, Light Industrial Equipment, Transportation, Healthcare and Diversified industry segments is required.

• Intermediate or Senior Appraisal Certifications a plus

• Supervisory/Management Experience a plus

 

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