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Job Details

Sr. Analyst Underwriting Maritime Finance

Company name
CIT Group Inc.

Location
,

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Profile

Overview:

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. 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.

Responsibilities:

Reporting to the Head of Underwriting & Portfolio Management for Maritime Finance, individual will be responsible for supporting senior team members in the underwriting as well as portfolio management of asset-backed maritime financing transactions, and assisting with the preparation of presentations and reports for regulatory and internal informational purposes

• Primary function as support for business leaders in evaluating transactions, conducting market analysis and portfolio management. This includes cash flow modeling, credit analysis, documentation, etc.

• Analyze financial statements and capital structures, conduct business/industry analysis to identify transaction risks and mitigants;

• Manage assigned portfolio accounts - monitor performance and covenant compliance, prepare trend cards and periodic/annual reviews, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to manager; identify and act on warning signals, participate in portfolio reviews as needed

• Maintain familiarity with CIT policies, procedures, and underwriting standards

• Interface with other departments within CIT, such as Legal, Operations, Insurance, Problem Loan Management, Capital Markets, Corporate Risk Management, Compliance, Loan & Risk Review, and Internal Audit

• Develop maritime industry knowledge and track industry trends across the various sub-sectors including dry bulk, tankers, containerships, LNG/LPG, and other niche segments

• Interface with customers to complete diligence process, gather key information for credit analysis, and obtain periodic materials such as financial statement, compliance certificates, etc, as well as assist the relationship management efforts of the Originators

• Interface with and independently manage information requests received from auditors and loan examiners (internal as well as external, including regulators), prepare reports for regulatory and internal informational purposes, as well as work on any special projects as per business needs

• Will also play important role in executing and closing of transactions.

• Business unit ad-hoc projects

Qualifications:

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

• Maritime sector experience a plus

• Completion of a formal credit training program is desired but not required

• Must have a solid understanding of financial statements and capital structures, and possess strong analytical skills with an ability to question assumptions.

• Must have strong writing ability; will be expected to draft credit memoranda and annual reviews for manager’s review with minimal supervision.

• Strong communication and interpersonal skills; team player.

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

• 1-3 years of shipping and/or banking experience with emphasis on modeling skills.

• Analytical

• Determined and proactive

• Good interpersonal and communication skills

• Able to work under stress and adhere to tight deadlines

Options:

Company info

CIT Group Inc.
Website : http://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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