CIT Group Inc.

VP - Problem Loan Management (Workout)

Location US-NY-New York
Job ID
33565
# Positions
1
Job Family
Credit - Loan Workout
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

• Manage a portfolio of classified cash flow and ABL loans to maximize loan recovery, ensure proper reserve levels and accurate risk rating.
• Perform quarterly portfolio reviews through the completion of PLM status reports and other regular reporting items.
• Evaluate, recommend and document waivers, amendments and restructuring strategies.
• Manage a team of workout professionals.
• Prepare monthly and quarterly analysis of the individual accounts for discussion during the Classified Asset Committee meetings.
• Perform impairment analysis and recommend reserves and charge-offs as needed.
• Lead negotiations of amendments, restructuring proposals and documentation with borrowers and the bank group.
• Perform extensive analysis and due diligence to identify risks associated with modification of credit terms and determine appropriate structure and pricing.
• Provide in depth financial analysis of historical financial statements and operating information, and identify important value determinants and risks, using knowledge of accepted accounting principle, model design, and financial analysis.
• Perform industry/economic assessments, identifying economic trends, competitive analysis and business models
• Sit on ad-hoc and formal creditor committees.
• Ensure accurate PD/LGD and regulatory risk ratings.
• Ensure that the portfolio complies with credit and compliance policies, business strategy, and regulatory guidelines.

Qualifications

• 7+ years of experience in leveraged lending/commercial banking
• Extensive experience in workout / restructure of troubled loans
• Experience in a regulated institution
• Strong understanding of bankruptcy and restructuring concepts
• Previously been a member of a steering committee/creditor’s committee
• Strong knowledge of secured lending, capital structures and inter-creditor issues
• Knowledge of Enterprise Valuation

Options

Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
Share on your newsfeed