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Job Details

Managing Director Chief Underwriter

Company name
CIT GROUP INC.

Location
New York City, NY

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Profile

Overview
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.
Responsibilities
Reporting to the President of Commercial Finance, the Head of Underwriting and Portfolio Management is responsible for leading a team of Underwriters and Portfolio Managers across multiple business segments including; Healthcare, Capital Markets, Maritime, Aerospace, Commercial and Industrial, Energy, Sponsor Finance, Communications & Technology, Syndications and Entertainment & Media.
Principle Duties and Responsibilities \u2022 Responsible for developing strategic and operational objectives that have a substantial impact on the short and long term success across all segments within Commercial Finance\u2022 Establishes strategic underwriting objectives, underwriting authority levels, and products development direction\u2022 Maintains a strong presence with Business Segment Leaders to assess risk tolerance, market appetite, and emerging issues\u2022 Partners with internal peers to address governance and compliance issues related to underwriting practices\u2022 Leads, directs, and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with corporate strategic direction\u2022 Assimilates trends in the industry and determines underwriting best practices\u2022 Analyze and approve credit requests, structure credit facilities, and negotiate credit agreements and other loan documentation\u2022 Responsible for on-going monitoring and risk management portfolios of credit clients\u2022 Develop and articulate a dynamic, forward-looking risk assessment of client companies, transactions, competitive threats, industry and other factors\u2022 Lead and/or participate in client due diligence and transaction negotiations\u2022 Attend client, credit committee, and other meetings to develop a thorough understanding of client companies, management teams, and industry sectors\u2022 Use financial models to develop a forward-looking credit risk assessment based on key value drivers and sensitized assumptions\u2022 Recommend and approve appropriate credit structures relative to risk assessment and policy considerations\u2022 Manage and monitor credit approval process\u2022 Apply corporate finance and accounting expertise to develop appropriate financing structures\u2022 Build out credit approval materials, ensure all credit risk policies are followed, and present and recommend credits for approval at the appropriate level\u2022 Portfolio Management\u2022 Ensure risk ratings are accurate and reflect a current forward-looking view of the clients\u2022 Provide early identification and proactive management data analytics and reporting for deteriorating credits and other problem situations\u2022 Prepare and present quarterly portfolio review material to senior management\u2022 Work with the credit risk group and internal credit reviewers to validate credit quality and integrity of the credit process, and comply with regulatory and policy requirements\u2022 Work closely with Credit Support Specialists to ensure accuracy of credit system data\u2022 Assist Credit Risk Executive in training and developing junior underwriters\u2022 Interface with regulators (OCC, FRB and FDIC)\u2022 Coordinate develop and recommend appropriate credit limits, credit standards and industry strategies\u2022 Exercise FLU credit authority pursuant to credit policy and regulatory higher standards
Qualifications
\u2022 Superior credit, corporate finance, negotiation, loan documentation, and financial modeling skills \u2022 Proven track record as a change agent \u2022 Strong interpersonal and communication skills\u2022 Independently productive; able to operate at a highly effective level with minimal day-to-day managerial direction\u2022 Minimum of 10 years of corporate or investment banking lending experience including extensive credit, structuring, and marketing preferably in a regulated banking environment\u2022 BA/BS degree is required, MBA and/or CFA is preferred\u2022 Extensive underwriting expertise with the ability to integrate knowledge across product lines and segments\u2022 Advanced communication skills, which are critical to building consensus across area of influence (external and/or internal relationships), team and/or matrix environment\u2022 Superior leadership and management skills demonstrated integrity and professionalism\u2022 Ability to drive results by identifying and resolving significant problems within scope of responsibility\u2022 Knowledge of Microsoft Office Suite and other business-related software

Company info

CIT GROUP INC.
Website : https://www.cit.com/

Company Profile
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.

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