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.
The technology and Operations T&O Operational risk team is the first line of defense for the technology and operations group at CIT.
People in technology and operational risk management jobs must be analytical, logical personnel as their task is to embed risk control assessments within an organization. This usually involves the monitoring of risk policies and tools in order to determine their effectiveness within a particular organization. They must also develop risk management practices that are in line with the policies of the organization and the regulatory framework of the financial industry.
Previous technology risk experience must include application processes and controls.
Previous operations experience is usually preferred, but experience in dealing with a position calling for strong analytical, managerial, and negotiation skills can sometimes be substituted where operational experience has not been gained by the candidate.
Risk managers will need to be fluid communicators as they will need to address personnel at all levels of hierarchical importance. They will need to adapt their way of speaking to suit the different skill sets that each department brings so as to ensure that risk policies are implemented effectively and with complete understanding by the staff.