CIT Group Inc.

  • Analyst - Collateral Analyst

    Location US-NY-New York
    Job ID
    30661
    # Positions
    1
    Job Family
    Originations Support - Portfolio 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

    • Process client’s Borrowing Base Certificates (BBCs) timely and accurately.
    • Ensure BBC agrees to client submitted detail reports.
    • Ensure the accuracy of collateral information submitted and check for any changes or omissions from prior reports. Investigate significant fluctuations from prior submission, such as unexplained change in sales, large debit and credit adjustments, etc.
    • Calculate ineligibles and compare to clients calculation as well as identify collateral that may not be eligible for lending.
    • Notify RM and CM of significant differences or issues that may overstate collateral availability.
    • Reconcile collateral, loan and availability per BBC to STUCKY to ensure information is posted to STUCKY correctly.
    • Ensure client submits reports in accordance with CIT policy. Follow-up with client on deviations from CIT guidelines and notify RM and CM of significant issues.
    • Monitor the flow of cash receipts from customers, clients, and to CIT to ensure collateral and loan is reflected accurately in STUCKY.
    • Monitor advance requests in STUCKY, and obtain approval before cut-off time.
    • Update and monitor the Exception Tracking & Tickler (“ETT”) system according to Credit Agreement.
    • Review Field Examinations and Appraisal Reports
    • Process advances timely on a daily bases. Set up and track Tickler’s on new and existing clients.
    • Update the Cobra system for KYC’s on new and existing clients.
    • Perform month end collateral reconciliation package. Process Health care accounts through the Value track system.
    • Prepare weekly health care standard settlements. Upload Health Care client’s files to be processed via Value Track.
    • Understand & manage accounts consistent with the Loan & Security Agreement.
    • Analyze/Identify and alert AE & CM of fraudulent activities, problems and any other errors that may overstate availability.
    • Collateral Tracking /Update
    • Analyze month end package for reasonableness and identify issues, financial problems and deterioration of the collateral value.

    Qualifications

    • 2 years of College
    • 2 years of Collateral Analyst work experience
    • Basic understanding of Accounting Principles
    • Basic understanding of Finance/Banking
    • Ability to work independently and be a team player,
    • Ability to work well under pressure,
    • Knowledge of Asset Base Lending
    • Knowledge of Health Care Lending
    • Knowledge of Stucky
    • Knowledge of Idea

     

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