AVP, Underwriting - Commercial Services at CIT Group LLC

Posted in Other 6 days ago.

Location: New York, New York





Job Description:

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 .


The AVP of Underwriting for Commercial Services takes lead responsibility in preparation and analysis of loan underwriting presentations for factoring, working capital financing, credit protection and receivables management services.


Responsibilities




  • Performs rigorous financial analyses of transactions including financial modeling, customer evaluation, collateral analysis, risk rating, and industry/competitor analysis to assess transaction risk

  • Assists with PCA and proposal process with Originator/ Business Development Officer

  • Participates as a team member in special projects aimed at improving business processes and analytic tools

  • Monitors the progression of assigned deals and updates applicable databases and models

  • Analyzes financial statements and capital structures, prepares financial models, performs sensitivity / scenario analysis; conducts business/industry/competitor analysis to identify transaction risks and mitigates; provides recommendation on the transaction based on due diligence.

  • Works closely with Underwriting Manager, Business Development Officers, Legal, Credit Risk, Operations, and other relevant departments; communicates on an ongoing basis and manages the underwriting function in a timely and collaborative manner and within established guidelines and expectations.

  • Ensures all underwritings adhere to internal credit procedures and provides written reports and recommendations to Risk in a clear, concise, and well-articulated manner. Identifies and obtains approval for any exceptions to internal policies or procedures during the underwriting process.

  • Presents transactions to appropriate authorities as required by the nature of the transaction.

  • Coordinates all closing activities with applicable departments (Operations, Credit, Legal, etc.) and manages deal throughout the entire process, including for preparation/negotiation/execution of all legal documentation, system set up, and handoff to Portfolio Management team in an appropriate manner.

  • Adheres to corporate and business specific policies and considers appropriate controls as part of day-to-day responsibilities. Leads KYC/BSA process and ensure all KYC compliance requirements have been met prior to transaction close.




Qualifications




  • Bachelor's degree with a concentration in finance or accounting preferred

  • 3-5 years of experience in the commercial lending industry; credit trained with direct experience of underwriting and executing senior debt transactions

  • Must have a solid understanding of financial statements, proficiency in financial modeling, and strong analytical skills with an ability to question assumptions

  • Strong communication and interpersonal skills; team player

  • Self-motivated with high energy levels; ability to prioritize and multi-task effectively

  • Some experience of Factoring deals is a plus; ability to understand legal documentation and experience of managing deals as an Agent is a plus





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