CIT Group Inc.

  • Account Manager

    Location US-FL-Jacksonville
    Job ID
    # Positions
    Job Family
    Originations Support - Sales Support
  • 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


    The principal focus of the Account Manager (AM) role is to support the CIT sales force and our business partners in achieving volume and sales goals through the origination of lease and loan transactions.

    The AM maintains and manages the daily relationship with CIT’s vendor partners while working collaboratively with internal functional areas (Credit, Legal, Pricing, Asset Valuations, Operations, Customer Service, Cash Operations, Financial Adjustments, Asset Management, etc.). The AM owns new standard flow, enterprise level (above$500K), and non-standard finance transactions from initiation through booking. This includes obtaining comprehensive credit information on applications, interfacing with CIT’s Credit team through final adjudication, deal structuring, documentation and funding; communicating regularly with CIT Sales, the originating business partners, vendors, dealers and end-user customers throughout the process. The AM exercises independent judgement and decision making when structuring non-standard lease and loan transactions; this may include, pricing, fee structuring, manual subsidy calculations and residual blending to ensure transactions meet CIT’s yield requirements. The AM is responsible for preparing standard lease and documentation packages and may work with Legal to craft additional documents that may be necessary to further protect CIT’s interest on non-standard transactions. Prior to booking, the AM prepares the final funding package and evaluates each potential finance transaction to ensure all documentary and non-documentary criteria is met. The AM books transactions within their set level of authority. In addition, should any customer service issues be escalated, the AM works directly with the various CIT departments to troubleshoot and resolve the issue.  The AM has a deep understanding of the vendor partners and customer needs in the Industrial market place and the necessary legal documentation, pricing, asset management, titling and end of lease/loan knowledge. 


    Sales Goals:

    • Tasked with meeting or exceeding monthly budgeted volume goals while remaining within CIT risk management guidelines
    • Use strong interpersonal skills to maximize application activity

    Vendor Relationship Management:

    • Main daily point of contact with vendor partners
    • Take ownership of transactional side of vendor relationship
    • Communicate well with all levels of vendor personnel

    Credit Application:

    • Obtain comprehensive credit information on vendor and/or end-user customer applications 
    • Coordination and entry of all transactional data into appropriate systems
    • Efficiently and effectively manage the credit application process, interfacing with CIT Credit and other internal departments as needed through final adjudication
    • Work with a sense of urgency; ensuring timely responsiveness and regular communication with the originating vendor, CIT Sales and/or end-user customer through each stage of the process

    Deal Structuring:

    • Manage med - large, non-standard and enterprise level transactions
    • Exercise independent judgement and decision making to structure non-standard lease and loan transactions; including pricing, fee structuring, deferred payments, balloon payments, manual subsidy calculations, residual blending, etc. 


    • Create and send accurate and complete end-user documentation packages while ensuring all transactions meet minimum yield requirements
    • Work with Legal to craft additional documents necessary to further protect CIT’s interest on some non-standard transactions
    • Coordinate with Onboarding on any non-standard documentation requests
    • Perform comprehensive review of signed documentation package to verify all transactional information has been received and is complete and accurate
    • Interface with Legal on material document changes that require a higher level of understanding of the lease transaction and legal requirements


    • Perform final quality review of all lease documentation, compliance risk, and pricing accuracy prior to funding
    • Verify key customer and transactional data is complete and accurate
    • Review system data for accuracy and confirm vendor and customer credit approvals have not expired
    • Verify soft cost thresholds and residual data is acceptable, coordinate with Credit/AMO for concessions as needed
    • Perform customer follow-up calls for verbal authorization prior to lease commencement as required by program
    • Final approval and entry of all transactional data into appropriate systems for funding (within authority limit)
    • Assemble and forward final documentation package for imaging and storage
    • Coordinate post-booking contract adjustments
    • Troubleshooting:
    • Own any vendor escalated service issues through resolution and return communication, working closely with servicing colleagues, with an eye towards process improvement

    Training and Process Improvement: 

    • Educate vendor partners and customers on CIT processes, providing updates as changes occur
    • Continually seeks ways to improve current processes and proactively communicates ideas and suggestions with team members and management


    • Thorough understanding of finance transactions (loans and leases)
    • Understanding of the terms and condition of transactional legal documentation and have the ability to negotiate with end-users to meet customer needs and comply with an acceptable transaction structure
    • Firm knowledge of pricing components with complete understanding of the relationship of payment terms, residual values, points/fee structures, subsidy structures and how the components interact to impact yield
    • Ability to use independent judgement and decision making to structure large finance transactions to ensure positive financial impact to CIT
    • Broad familiarity with the different types of Industrial equipment (material handling, transportation and construction)
    • Thorough understanding of end of term considerations to structure a transaction to meet customer needs
    • Firm understanding of the transaction and how to apply different elements of pricing, documentation and asset evaluation
    • Comprehensive knowledge of CIT’s credit, compliance, regulatory, documentation and non-documentary requirements
    • Deep understanding of end user interface, asset management, customer needs, problem solving capabilities, and end of term knowledge Ability to identify and understand important issues and changes in vendor relationships. Utilizes successful investigative skills to identify gaps or problems in a relationship. Employs effective communication and analytical skills to provide to sales and management pertinent and logical conclusions and recommendations related to vendor programs


    Additional Important Work Attributes Important for Success Include:

    • Time Management: Plan and prioritize appropriately, using personal judgment to enhance business performance individually or through others. Prioritizes work alignment with unit's goals and strategies.
    • Dependability: Can be counted on for meeting obligations, commitments, deadlines, etc. Uses time and personal energy appropriately
    • Detail Oriented:  Ability to perform multiple tasks with attention to detail and accuracy
    • Demonstrates Flexibility: Willing and able to adjust to changing conditions and priorities; stays positive and optimistic during periods of change
    • Interpersonal Relationship Skills: Maintains and/or builds relationships; can gain cooperation without alienating others. Knows how to actively listen and contributes to a climate of open communication. Respects different points of view and treats others with respect in all interactions.
    • Initiative: Willing to take initiative to see work through to its completion. Drives for results; is willing to take responsibility for resolving problems and does not blame others.  Seeks out process improvements.
    • Teamwork: Willing to pitch in and help out for the good of the team, unit, department, etc. Is supportive and helpful to others.  Assist in training/mentoring of inexperienced team members.
    • Communication: Effectively organizes oral and written communications to address problems and clearly identifies actions for resolutions.  Uses good grammar and sentence structure during conversations and in all written communications.
    • Technical/System Capabilities:  Mastered all Computer/PC systems and applications needed to follow perform job functions. Able to perform lease/finance calculations needed to structure transactions appropriately.
    • Problem Solving and Decision Making Capabilities: Uses a combination of intuition and logic to come up with solutions before presenting problems with supervisors.


    Education & Experience:

    • Three to Five years equipment loan and/or leasing experience
    • Three to Five years of originations type experience
    • Experience in an industry dependent on positive customer interaction
    • College degree preferred, or similar equivalent experience
    • Financial literacy, understanding T-value and time value of money
    • Computer literate; proficient in Microsoft Office, Excel (pivots, etc.)
    • Strong interpersonal and communication skills


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