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.
Successful candidate will support senior Problem Loan Management (PLM) Officers in analyzing and managing assigned portfolio to maximize loan recovery through extensive cash flow modeling, enterprise valuation, industry analysis, competitive assessment, etc.
Responsibilties will include:
• Assisting with quarterly portfolio reviews through completion of PLM status reports and in the preparation of other regular reporting items as needed.
• Supporting portfolio analysis with system development/data management.
• Preparing monthly and quarterly analysis of the individual accounts for discussion during the Criticized Asset Working Group meetings.
• Providing in depth financial analysis of historical financial statements and operating information, and identify important value determinants and risks, using knowledge of accepted accounting principle, model design, and financial analysis
• Developing cash flow models taking into account historical performance, account industry and economic environment and various restructuring alternatives
• Comfort with DCF (discounted cash flow) models is critical, development of collateral and enterprise valuation models and analysis.
• Completing PD (probability of default) and LGD (loss given default) models.
• Ensuring accurate regulatory rating.
• Performing industry/economic assessments, identifying economic trends, competitive analysis and business models.
• Performing extensive analysis and due diligence to identify risks associated with modification of credit terms.
• In conjunction with team leader, making recommendations regarding waivers, amendments and restructuring strategies.
• Assisting in the identification of the distinctive competencies, competitive advantages, and competitive weaknesses of troubled credits.
• Preparing presentations materials, discussion points and questions prior to meetings.
• Assisting in the preparation of credit approval request memorandum which support the valuation of companies and the economics of proposed transactions and identify major risks and mitigants.
• Assisting with negotiations of restructuring proposals and legal documentation
• BA/BS with a concentration in finance or accounting preferred
• 3+ years of experience in leveraged lending/commercial banking
• Ability to build detailed financial models, perform valuation analysis, evaluate credit profiles and capital structures
• Perform industry analysis and understand its impact on the credit
• Begin to have a basic understanding of bankruptcy concepts
• Strong knowledge of secured lending, capital structures and inter-creditor issues
• Knowledge of Credit Agreements and other legal documentation
• Desire and commitment to learn new techniques to create solutions and the intellectual curiosity and flexibility to question assumptions
• Work on Special Projects
• Candidate should demonstrate excellent verbal and written communication skills.
• PC skills such as (Microsoft Word, Excel, and Power Point) are required.