CIT Group Inc.

  • Associate, Underwriting - Real Estate Finance

    Location US-CA-Santa Monica
    Job ID
    30985
    # Positions
    1
    Job Family
    Originations Support - Underwriting
    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 position of Associate, Real Estate provides a challenging and rewarding opportunity to help grow the commercial real estate loan portfolio. The Associate will, among other responsibilities, perform underwriting, due diligence and local market supply and demand analysis to support new loan originations covering office, industrial, retail, multifamily and hotel properties.

     

    • Inputs and completes loan sizing model and discounted cash flow model and prepares comparable property analyses
    • Analyzes local market conditions to determine demand and supply fundamentals of hotels, offices, multi-family units, retail, and industrial properties
    • Evaluates the market to determine multi-year forecast of net operating income cash flow and capital expenditures
    • Reviews historical operating information and reconciling with future projections
    • Drafts deal screen and loan approval memos
    • Coordinates due diligence with third party providers
    • Reviews and analyzes due diligence findings
    • Assists loan officer with loan closings as appropriate and works with escrow and loan servicing
    • Provides business unit support for deal tracking and portfolio management of loans post origination
    • Prepares periodic waterfalls, draw requests, and other credit actions
    • Performs annual loan reviews within 60 days, or as otherwise directed, of receiving property financial information
    • Performs ad-hoc analysis as requested by management

    Qualifications

     

    • Bachelor's degree required.
    • Two+ years related experience and a general understanding of finance and financial concepts is required
    • Knowledge of financial modeling and advanced proficiency in Excel is required.
    • Must possess the ability to provide comprehensive, analytical, and thoughtful recommendations on highly structured real estate loans.
    • Knowledge of real estate valuation preferred.
    • Ability to thrive in a quantitative computationally-oriented work setting
    • Strong basic computer skills, MS Office (including Excel, Visio, and PowerPoint), presentations, spreadsheets
    • Must have good recall and be detail-oriented and highly accurate
    • Ability to excel in a fast-paced, changing environment
    • Ability to use sound judgment (problem resolution skills) and have the ability to work independently in the execution of daily tasks
    • Strong organizational skills with a proven ability to multi-task and manage multiple projects
    • Able to execute on verbal and/or written instructions
    • Outstanding written and verbal communication skills
    • Excellent interpersonal skills and be able to work effectively in a team environment
    • Ability to interact and work with external customers

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