CIT Group Inc.

  • VP, Asset Management

    Location US-NJ-Livingston | US-FL-Jacksonville
    Job ID
    30695
    # Positions
    1
    Job Family
    Asset Management - Asset Valuation
    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

    The Vice President of Equipment Management will have primary responsibilities within CIT Capital Equipment Finance (“CEF”), with a strong emphasis on equipment research, trends, valuation analyses, and evaluation of new equipment target markets.  CEF is looking for an individual who is detailed oriented and possesses strong communication and analytical skills. 

     

    Responsibilities include:

    • Provide residual and collateral evaluations on new and existing lease and loan transactions for a diverse group of assets which include; over-the-road vehicles, business aircraft, manufacturing equipment, marine, medical equipment, food processing machinery and equipment, construction equipment, etc.
    • Conduct industry and equipment analyses.
    • Develop and present collateral value analyses to CEF Credit Committee and Senior Management.
    • Ability to interact with third party vendors and appraisers.
    • Manage / arrange and perform on-site equipment inspections.
    • Work closely with CEF Credit, Risk and Portfolio Management Teams. Provide structuring advice accordingly.
    • Provide, review and negotiate Master Lease Agreements, Schedule maintenance and return provisions as necessary
    • Assist with the maintenance of department policy and procedure manuals.
    • Provide assistance to portfolio management with the repossession and sale of distressed assets as well as assets returned through the normal course of business.
    • Assist AMG Director with both annual collateral reviews for credit and portfolio management as well as the annual ASC 840 Annual Residual Impairment Review.

    Qualifications

    Minimum Requirements:

    • BA or BS degree in a related field.
    • 8 to 10 years of relevant work experience in equipment finance or asset management
    • ASA Certification is a plus.
    • Strong analytical and problems solving skills.
    • Ability to express findings in a logical and organized manner.
    • Ability to meet deadlines.

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