Founded in 1908, CIT (NYSE: CIT) is a leading national bank empowering businesses and personal savers with the financial agility to navigate their goals. We believe in helping customers turn their ideas into outcomes. Whether those customers are building a business or building their savings, CIT has the experience and agility to empower them to achieve their goals. At CIT, how we do business is just as important as what we do. Our social responsibility programs focus on driving financial and personal empowerment, supporting the environment and advancing wellness. CIT contributes to communities where we live, work and do business through charitable donations, community investments and employee volunteerism.
The SVP Credit Officer will be responsible for adjudicating loans in the East Commercial Banking Region and will be based in the New York Metro area. The position will be part of the build-out of a new East Commercial Banking region with multiple production offices located in the NY/NJ metro area. The target market or customers will, primarily, be regional, privately owned business located in the Northeast with revenues between $10MM-$200MM and credit needs of, generally, $25MM or less. The Credit Officer will be responsible for the oversight and management of the Region’s credit decisioning process and policy and oversight of the company’s portfolio performance. This entails monitoring the portfolio including; oversight of the credit and risk management activities of the group. The right individual will foster a culture of prudent risk management and accountability, that includes high standards of ethics and integrity.
Principal Duties & Responsibilities:
• Decision all presented credits within delegated authority.
• Facilitate decisioning for transactions/obligors that require approval beyond their authority.
• Diligence guidance and oversight and decision facilitation for portfolio acquisition activity.
• Approval of Credit minutes for various meetings and closing compliance memo on all relevant business unit transactions.
• Engage in “pre-flight” and/or pre-screen discussions with business unit.
• Oversight of quarterly portfolio reviews- PD/LGD/Risk Classification affirmations/changes.
• Review and decisioning of Annual Reviews.
• Review and decisioning of waiver, amendment, modification requests.
• Business unit point for PLM interaction- notification of downgrades.
- Interaction with PLM on surveillance, managed or direct status.
- Review of quarterly PLM forms before submission.
- Participation in quarterly PLM meetings.
- Other adhoc PLM interaction as required.
• Partner with FLU to address on all Internal Audit, Loan Review, OCC/Regulatory exams.
• Business unit point for CIT’s risk management portfolio monitoring requirements.
• Provide guidance and in certain cases approval for IWP, Credit Standards, Credit Procedures and various other policies and procedures (i.e. AML, Fraud, Theft, corruption, operations risk, etc.).
• Ad-hoc projects or tasks as assigned.
• Bachelor’s Degree in Accounting or Finance
• 15+years of Credit, underwriting and portfolio management experience to general middle market businesses; including manufacturers, distributors, service companies and professional practices
• Minimum 5 years of demonstrated Credit decision experience with individual Credit Authority required
• This senior level credit person will work directly with the business unit to assist with the underwriting and/or structuring, as well as, risk rating of loans in compliance with Bank standards and risk appetite framework
• Excellent organizational skills with sound strategic judgment and vision
• Ability to mentor team members and attract, motivate and retain talent
• Strong communication skills with the ability to clearly articulate complex topics at all levels of the organization
• Ability to develop and maintain collaborative relationships throughout the organization
• Ability to work in a fast paced environment