CIT Group Inc.

  • VP Commercial Services Credit Officer

    Location US-NY-New York
    Job ID
    30983
    # Positions
    1
    Job Family
    Credit - Credit Decision
    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

    To manage a select customer portfolio (typically ~30 customer accounts), that consists of highly visible and/or marginal customer accounts. Advanced financial/analytical skills are necessary to obtain, analyze and accurately interpret all levels of financial information, including liquidity and bank covenant analysis and financial projections, towards recommending an appropriate credit limit and/or business strategy. The credit officer must be able to prepare and present a detailed and cohesive financial analysis/underwriting in the proper format for various reporting committees. The officer must understand our regulatory risk metrics system and its relationship to making sound and prudent credit decisions. Additionally, the Officer must recognize that our focus is towards servicing clients while simultaneously safeguarding the assets of CIT and ensuring adherence to credit policies and procedures in decision making.

     

    • Effectively communicate with a company’s senior management

    • Manage customer exposures appropriately based on their current financial position and proactively recommend the appropriate strategy; increase/decrease/maintain/exit.

    • Identify and refer problem customers to senior management.
    • Assist the collection department by reviewing and ensuring maximum collectability of all accounts.
    • Coordinate closely with client service teams to ensure quality client service, retention, and operational efficiencies that meet or exceed CIT standards.
    • Identify and refer customers to our new business department
    • Maximize efficiencies and productivity by responding to client’s inquiries/requests in a timely fashion, inputting lines of credit where appropriate while meeting or exceeding credit department standards and risk rewards philosophies.

     

     

    Qualifications

    • A minimum of two (2) years of credit department factoring experience or in a related field/function.
    • Previous experience in credit underwriting or strong underwriting skills • Strong knowledge of the industries being supported (primarily retail)
    • Obtain and analyze financial information and documentation to establish the credit worthiness of each assigned customer account.
    • Understand the importance of cash flow, operating performance/trends, and liquidity, as well as a lender’s lending document and covenant restrictions and perform analysis of any covenant tests.
    • Communicate effectively in a variety of presentation settings; face-to-face with customer/client, internal or external meetings, small working groups with other associates and when appropriate, members of senior management.
    • Successfully interact with clients/customers/associates and negotiate to achieve aforementioned goals, client service and protection of CIT’s assets.
    • Proven ability to operate in difficult and/or potentially confrontational settings without compromising quality, accuracy or the needs/relationships of others.

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