CIT Group Inc.

AVP, Underwriting - Maritime Finance

Location US-NY-New York
Job ID
32825
# Positions
1
Job Family
Originations Support - Underwriting
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

CIT Maritime Finance offers senior secured loans, sale-leasebacks and bareboat charters to owners and operators of oceangoing cargo vessels, including tankers, bulkers, container ships, car carriers, and offshore vessels and drilling rigs.
Products & Services
• Recapitalizations, restructurings, and distressed purchases
• Senior secured term loans
• Bareboat charters
• Sale/leasebacks
• First lien cash flow loans
• Asset-backed revolving lines of credit

General Job Summary:
Reporting to the Head of Underwriting & Portfolio Management for Maritime Finance, individual will be responsible for supporting senior team members in the underwriting & portfolio management of asset-backed maritime financing transactions, and assisting with the preparation of presentations and reports for regulatory and internal informational purposes

Principle Duties and Responsibilities:
• Primary support in evaluating transactions, conducting market analysis & portfolio management including cash flow modeling, credit analysis, documentation, etc.
• Analyze financial statements and capital structures, conduct business/industry analysis to identify transaction risks and mitigants;
• Manage assigned portfolio accounts - monitor performance and covenant compliance, prepare periodic and annual credit reviews, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to manager; identify and act on warning signals, participate in portfolio reviews as needed
• Maintain familiarity with CIT policies, procedures, and underwriting standards
• Interface with other departments within CIT, such as Legal, Operations, Insurance, Problem Loan Management, Capital Markets, Corporate Risk Management, Compliance, Loan & Risk Review, and Internal Audit
• Develop maritime industry knowledge & track trends across the various sub-sectors including dry bulk, tankers, containerships, LNG/LPG, & other niche segments
• Interface with customers to complete diligence process, gather key information for credit analysis, and obtain periodic materials such as financial statements, compliance certificates, etc, as well as assist the relationship management efforts
• Interface with and independently manage information requests received from auditors and loan examiners (internal as well as external, including regulators), prepare reports for regulatory and internal informational purposes
• Business unit ad-hoc projects

Qualifications

• Bachelor’s degree with a concentration in finance or accounting preferred.
• 4+ years of shipping and/or banking experience
• Completion of a formal credit training program is desired but not required
• Solid understanding of financial statements and capital structures and possess strong analytical skills with an ability to question assumptions.
• Strong writing ability to draft credit memoranda & annual reviews with minimal supervision.
• Strong communication and interpersonal skills; team player.
• Self-motivated with high energy levels; ability to prioritize and multi-task effectively
• Able to work under stress and adhere to tight deadlines

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