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.
CIT Equipment Finance (CITEF) is the full-service, vendor-centric lending/leasing business unit of CIT Bank, N.A., a National Association and the primary banking subsidiary of CIT Group, Inc., a financial holding company. CITEF provides a wide array of lending and leasing products/ solutions to customers ranging in size from small/medium businesses to enterprise entities through its affiliation/alignment with OEM equipment vendors, their distributors, resellers and dealers (collectively, “vendors”).
The primary objective of this role is to develop/expand vendor financing relationships within the technology equipment supply chain that possess strong long-term growth potential and an attractive return profile and that will generate meaningful end-user equipment financing transaction volume. The incumbent’s success will be directly tied to his/her ability to be viewed as a consultative business partner, as well as ability to succinctly but eloquently communicate/sell CITEF’s value proposition into the marketplace.
The Technology Equipment Vertical Business Development Officer will be responsible for the end-to-end sales cycle, inclusive of vendor prospecting, opportunity identification, program development/proposal, program negotiation/closing, program onboarding/launch, and end-user financing volume achievement.
Required Job Responsibilities
• Identify, develop, structure, close and maintain vendor-centric equipment finance opportunities through both interaction at the appropriate vendor management level (C-suite), as well as “ownership” of the internal CIT sales cycle in its entirety, so as to meet or exceed assigned financial targets.
• Detail-manage all calling activities through CITEF’s CRM (Salesforce.com).
• Articulate/promulgate the CITEF value proposition across existing relationships in an effort to grow CIT brand awareness and market share.
• Ensure that program development includes appropriate interaction/consultation with all internal line functionality (described above) so as to ensure that all CIT/bank objectives and policies are met.
• Interface/coordinate with other business units within CIT, as appropriate, to help expand/broaden relationships and cross-sell relevant CIT products (i.e. depository/treasury management services).
• BS degree in Accounting/Finance, Marketing or related business discipline.
• 3-5 years minimum experience in a consultative business development role with a bank, independent finance company or captive finance company with demonstrated success/growth.
• Ability to work remotely and travel as required.
Additive Success Drivers
• Very strong organizational/analytical skills.
• Very strong written-verbal communication/presentation/public speaking skills.
• Broad contract negotiation/relationship management skills.
• Deep understanding of technology marketplace, the capabilities of competitors and current market trends including, but not limited to recurring revenue/aaS, electronic documents and block chain.
• Demonstrated creativity in both program and transaction structuring.
• Ability to work closely with/coordinate across/manage all internal line functionality (Operations, Legal, Risk, Asset Management, Finance/Pricing), in the completion of his/her assigned responsibilities.