CIT Group Inc.

Collateral Analyst

Location US-NY-New York
Job ID
33781
# Positions
1
Job Family
Originations Support - Portfolio Management
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 Collateral Analyst will report to the Managing Director, Asset Based Lending, Credit Risk. 

 

  • Process client’s Borrowing Base Certificates (BBCs) timely and accurately.
  • Ensure BBC agrees to client submitted detail reports.
  • Ensure the accuracy of collateral information submitted and check for any changes or omissions from prior reports.
  • Investigate significant fluctuations from prior submission, such as unexplained change in sales, large debit and credit adjustments, etc.
  • Calculate ineligibles and compare to clients calculation as well as identify collateral that may not be eligible for lending.
  • Notify RM and CM of significant differences or issues that may overstate collateral availability.
    Reconcile collateral, loan and availability per BBC to STUCKY to ensure information is posted to STUCKY correctly.
  • Ensure client submits reports in accordance with CIT policy. Follow-up with client on deviations from CIT guidelines and notify RM and CM of significant issues.
    Monitor the flow of cash receipts from customers, clients, and to CIT to ensure collateral and loan is reflected accurately in STUCKY.
  • Monitor advance requests in STUCKY and obtain approval before cut-off time.
  • Update and monitor the Exception Tracking & Tickler (“ETT”) system according to Credit Agreement.
  • Review Field Examinations and Appraisal Reports
  • Process advances timely on a daily basis. Set up and track Tickler’s on new and existing clients.
  • Update the Cobra system for KYC’s on new and existing clients.
  • Perform month end collateral reconciliation package.
  • Understand & manage accounts consistent with the Loan & Security Agreement.
  • Analyze/Identify and alert AE & CM of fraudulent activities, problems and any other errors that may overstate availability.

Qualifications

  • Associates’ degree required, Bachelor’s degree preferred
  • 2 years of Collateral Analyst work experience
  • Experience in Banking and Finance
  • Proficient in Microsoft Excel
  • Basic understanding of Accounting Principles
  • Ability to work independently and be a team player
  • Ability to work well under pressure

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