CIT Group Inc.

VP, Contract Negotiator

Location US-NJ-Livingston
Job ID
32473
# Positions
1
Job Family
Corporate Services - Sourcing & Procurement
Type
Full-Time

Overview

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

Responsibilities

The Contract Negotiator will be responsible to negotiate contracts with vendors and other business partners to ensure that CIT’s contractual positions are advocated to third parties.

This role includes the following responsibilities:
• Evaluates Business Unit needs for goods and services then identifies, assesses and compares procurement options, working closely with business unit management, senior managers and vendors/service providers to implement cost-effective solutions.
• Negotiates contracts within parameters specified by senior management, routinely asking for cost reductions and other business objectives. Must have in-depth knowledge and hands-on experience negotiating contractual terms and conditions, including extensive redlining of contract drafts. Must have experience negotiating all typical contract clauses, working closely with attorneys.
• While collaborating with the Director of Procurement, leads or participates in Request for Proposal (RFP) initiatives to either add a new service for vendors to provide to CIT, or to achieve cost savings and other objectives on existing services.
• Oversees delivery of complete, accurate and timely reports for all areas of responsibility, including entering data into a contracts database and loading fully-executed contract documents into a contracts image repository, using standardized file naming conventions.
• Maintains extensive industry contacts to keep current with trends and best practices, including large financial institutions.
• Acts as an internal expert/consultant to provide technical/functional expertise and internal consulting to business groups’ executive management.
• Acts within policies and procedures to ensure accuracy, control, and legal / regulatory compliance.
• Communicates effectively and builds successful relationships across all levels of the organization.
• Occasional travel required.

Qualifications

• Bachelors degree from a college or university.
• 10+ years of increasingly responsible experience in procurement.
• Demonstrated ability to target critical business problems and apply appropriate decision making/technology/methodologies to resolve.
• Proven negotiation expertise, including understanding of pricing structures applicable to many different types of corporate spending, and contractual terms and conditions.
• Lending and/or banking industry experience

• Strong negotiation skill – must be a sophisticated deal-maker.
• Ability to establish strategic direction and execute projects, as well as provide day-to-day oversight to ensure sound tactical execution.
• Strong oral and written communication abilities, including the ability to convey strategic recommendations at the executive level.
• Analytical skill, including significant use of software tools such as Microsoft Excel.
• Excellent customer service skills.

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