CIT GROUP INC.
Clevel, Executive, Business Development, Account Management, Sales, 100k
CIT Group Inc.
VP Account Executive CMS NE Region
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.
General Job Summary:
Commercial Services is one of the nation's leading providers of factoring and financing to consumer product companies. We tailor financial solutions that help companies of all sizes increase sales, improve cash flow, reduce operating expenses and eliminate customer credit losses. Commercial Services specialize in serving consumer product companies with $2 million or more in annual sales.
Our products include:
• Asset Based Loans
• Bulk Sale of Accounts Receivable
• Receivable Exposure Management (REM)
• Supply Chain Finance
Reporting to the Director – Client Management, the Vice President-Account Executive is the primary contact and is responsible for the overall relationship with Commercial Services clients. The incumbent interfaces directly with clients and as such is responsible for balancing the needs and expectations of the clients with policies, procedures and risk tolerances of Commercial Services.
Principle Duties and Responsibilities:
Primarily responsible for managing, maintaining, & controlling a portfolio of larger, more complex client relationships.
Analyze & monitor Clients’ financial & collateral performance by implementing & maintaining a system of controls and checks & balances.
Maintain knowledge of clients’ financial condition, collateral evaluation, and industry trends.
Ensure client is compliant with CIT Policies and Procedures including Client Credit Authorities, Product Guidelines, Industry White Papers and RACs &TMD’s.
Familiarity with and ability to apply and understand CIT’s Compliance procedures to meet government and company regulations and risk profiles.
Coordinate with area operations & audit staff to ensure that clients’ information is accurate, current, is complete and presented on a timely basis.
Cultivate/manage relationships with the borrowers and referral sources
Review/analyze interim financial statements, fiscal year-end audit reports and client projections on a timely basis
Visit and communicate with clients as necessary
Responsible for generating new business volume along with referral source generation
Education & Experience:
5 years of progressive portfolio management/underwriting experience with relevant focus in the leverage lending sector, with a focus on Retail, Apparel, Consumer Products preferred
Experience in any of the following: auditing, banking, commercial lending, underwriting, financial analysis, credit analysis, collateral management
Required BA in Business, Accounting, Finance, Economics or related field or any degree with relevant professional experience required
Master's degree preferred but not required
Completion of bank/finance company credit training program preferred, but not required
External Company Name: CIT Group LLC
External Company URL: https://www.cit.com/
CIT GROUP INC.
Website : https://www.cit.com/
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.