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Financial Solutions Manager
CIT
Jacksonville, FL, United States
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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
The principal focus of a Senior Financial Solutions Specialist is to support and manage specific relationships and structures within the Lender Finance/CEF Indirect/Supply Chain Financing segments with average transaction size in excess of $2.5MM. The individual will be responsible to understand and manage the full transaction lifecycle and serve as the primary relationship manager. They will ensure adherence to program parameters, established risk controls, policies & procedures, and manage to various targets set for both new business originations and portfolio metrics. A Senior Financial Solutions Specialist is expected to utilize critical thinking skills and independent judgment to recommend solutions and resolve partner servicing issues at all stages. They must effectively communicate with the partners on an ongoing basis as well as with all internal groups providing functional support (i.e. Sales, Credit, Legal, Tax, Asset Evaluations, Ops, and Accounting).
• Works with the BU and various functional teams for the onboarding of new relationships/structures including due diligence (coordination with Legal, Credit and Compliance) and establishment of efficient process/workflows
• Full Understanding of the deal structure, program parameters and supporting documentation required
• Efficiently and effectively manages the credit application process, acting as a conduit between the partner and CIT for relevant transactional information; includes set up of deal and related parameters in CCEx
• Review of all deal documents to ensure they are complete and correct as well as pricing
• Coordination with Credit, BD, Legal, AMO, Corp Insurance and Tax to review and obtain necessary approvals on documentation and deal parameters in preparation for funding
• Efficient and accurate booking and funding of the deals through either a UCI load process, CCEX or manual booking template
• Performs day-to-day activities that ensure effective management of all accounts and superior portfolio performance including minimal delinquencies/losses and meeting of EOT residual realization, where applicable
• Reconciliations, Reporting and completing portfolio analysis; working closely with all Finance groups to monitor and ensure that all activity is correctly reflected in the system. This includes responsibility for proper tax coding and lease classification.
• Establishes strong working relationships with each partner to proactively resolve all issues; understanding of the partners internal processes
• Regular communications/meetings with partners and internal teams to gauge portfolio performance
• Adherence to all established control processes; identify potential gaps and work with internal teams to resolve
• Assist in documentation of various policies & procedures and workflows.
• Participation in various special projects as needed
• Assist in identification, testing and implementation of system enhancements to increase efficiencies
• Identify and recommend ways to improve current processes; be proactive in communicating ideas and suggestions with team members and management
Qualifications
• Committed, Self-Managed, Proactive, Critical Thinker and Problem Solver
• Exceptional communication skills: Verbal and Written
• Professional and energetic when dealing with partners; leaving them with a positive experience/impression of CIT
• Functions well independently and in a team orientated environment; ability to analyze large datasets and make independent decisions within scope of authority
• Prioritize work and quickly evaluate a situation to find the best solution for client and CIT
• Strong organizational skills, detail oriented, ability to multi-task in fast pace environment
• Goal Oriented - must be able to forecast and meet delinquency and loss goals
• Advanced Excel skills - pivot tables, Vlookups & analyzing data
• Strong prior relationship management and customer-centric mindset required
• Project management skills are an asset
• Infolease and CCEx knowledge are an asset
Education & Experience:
• BS/BA degree preferred
• 2-5 years inside sales or customer service support
• Good working knowledge of finance structures and economics preferred