CIT Group Inc.
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.
The Vice President of Equipment Management will have primary responsibilities within CIT Capital Equipment Finance (“CEF”), with a strong emphasis on equipment research, trends, valuation analyses, and evaluation of new equipment target markets. CEF is looking for an individual who is detailed oriented and possesses strong communication and analytical skills. Responsibilities include:
• Providing residual and collateral evaluations on new and existing lease and loan transactions for a diverse group of assets which include; over-the-road vehicles, business aircraft, manufacturing equipment, marine, medical equipment, food processing machinery and equipment, construction equipment, etc.
• Conducting industry and equipment analyses.
• Developing and presenting collateral value analyses to CEF Credit Committee and Senior Management.
• Ability to interact with third party vendors and appraisers.
• Managing / arranging and performing on-site equipment inspections.
• Working closely with CEF Credit, Risk and Portfolio Management Teams. Providing structuring advice accordingly.
• Providing, reviewing and negotiating MLA / Schedule maintenance and return provisions as necessary,
• Assisting with the maintenance of department policy and procedure manuals.
• Providing assistance to portfolio management with the repossession and sale of distressed assets as well as assets returned through the normal course of business.
• Assisting AMG Director with both annual collateral reviews for credit and portfolio management as well as the annual ASC 840 Annual Residual Impairment Review.
• 8 years of relevant work experience in equipment finance or asset management
• BA or BS degree in a related field.
• ASA Certification is a plus.
• Strong analytical and problems solving skills.
• Ability to express findings in a logical and organized manner.
• Ability to meet deadlines.
CIT Group Inc.
Website : http://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.