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 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.