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 Associate will be a member of Commercial Finance’s Communications, Media and Entertainment group. We provide specialized lending and other financial products to a broad spectrum of industry-specific clients, including film and TV production/distribution companies, music publishers, casinos, communication and technology companies.
The Associate will provide support under the supervision of the underwriting and relationship management teams in all aspects relating to the execution of leveraged cash flow and ABL financing transactions, including:
• Reviewing company background and credit information to make assessment of creditworthiness;
• Researching industry trends and developments;
• Analyzing historical financial statements;
• Developing projection models;
• Drafting credit approval memos, including company analysis, industry analysis, strengths and risks, financial analysis and risk rating rationale;
• Participating in credit approval and documentation process;
• Complete various regulatory requirements, including “know-your-customer” documentation.
The Associate will also complete ad hoc projects, including creating and maintaining transaction and industry databases, marketing pitches, etc.
The ideal candidate should have:
• Bachelor’s degree with strong academic credentials
• 1-3 years in related credit/lending experience (specialization in Film/Entertainment and/or Media & Communications, a plus)
• Completion of commercial or investment banking training program preferred
• Strong knowledge of accounting and financial statement analysis; understanding of credit principles, loan terminology and underwriting guidelines
• Familiarity with credit agreements and other loan documentation
• Ability to manage multiple projects simultaneously
• Highly developed oral and written communication skills
• Willingness to work flexible hours