CIT Group Inc.

AVP, Asset Valuation

Location US-FL-Jacksonville
Job ID
33688
# Positions
1
Job Family
Asset Management - Asset Valuation
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

Provide collateral value analysis for new business programs, matrix residual pricing, one off special bid analysis and valuations for remedial and impairment reviews.

AVP Asset Valuations is to interact with Asset Management, Credit Risk, Originations, Legal, Sales, On-Boarding and Pricing.


• Ability to train, motivate and develop team members
• Proven ability to work with other business segment, risk and functional managers
• Develop, maintain & expand network of industry contacts to provide knowledge sources for various industry developments, trends and values including; Light Industrial, Construction, Materials Handling, Transportation, and Diversified industry segments
• Research and develop current and future equipment Fair Market Value’s and Liquidation Values. Have solid knowledge of financial products used by the business and the required residual and collateral risks/rewards inherent in each product
• Determine and recommend asset management related transaction documentation requirements.
• Understand Program and Deals Structuring and recommend appropriate structures to manage the risk/reward trade-offs required by the program and deals
• Develop and Analyze portfolio, program and transaction performance including; residual realization achievement and propensity-related impacts and trends towards future recommendations
• Perform Residual Reviews and determine appropriate classification of Residuals
• Recommend Residual Values and associated rules for applying Residual Values (transactional and actuarial)
• Provide Collateral Values as required to meet the needs of the transaction including OEC verification.
• Monitor New Business Volume after it is booked to ensure the appropriate application of residuals to individual transactions
• Participate in New Business Development, Program Management initiatives and On-Boarding activities

Qualifications

• 5+ years experience in multiple asset management functions or equivalent experience (Evaluations, End of Lease & Remarketing)
• 3+ years experience in residual valuation and program/deal structuring experience across various equipment types and business segments, and target market customers or, at a minimum the same experience in the specific equipment types approved for the specific designation.

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