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 Director of Underwritings’ primary responsibility is the adjudication of new leases or loans according to CIT risk appetite, policy and procedure across the Equipment Finance Small Ticket (Jacksonville and Direct Capital) platforms to grow existing programs and new business.
The individual will manage teams responsible for the Office Imaging, Technology and Industrial sectors in Jacksonville and Vendor, Franchise, Retention and Direct Acquisition segments in Direct Capital and will be instrumental to building the quality of the portfolios and the loss and delinquency results across CIT Equipment Finance Small Ticket.
The individual will be responsible for the manual processing of all submissions typically with the goal of maximizing approval rates, and turnaround times subject to credit quality parameters. The role will work closely with the Director of Automated Solutions to ensure most effective decision delivery of all adjudications. The Director of Underwriting reports into Equipment Finance Small Ticket Chief Credit Officer.
Specifically, he/she will be responsible and accountable to EF-ST Chief Credit Officer and the business platforms for origination, new business grading (PD & LGD), managing and developing sales and vendor relationships, measuring credit adjudication effectiveness and on-going development of the team’s underwriting skillset.