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Associate, Contract Administrator
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 Contract Administrator will be responsible for end-to-end ownership which begins with credit approval through booking and funding.
• Verification of legal name, good standing certificate and reviewing other formation documents of customer
• This person will prepare standard documents in accordance with the credit approval.
• Responsible for ensuring that documents have not been altered in any way, are executed by an authorized signer, if faxed are legible, in addition to following other established business practices and procedures
• This person will be responsible to ensure that CIT has a properly perfected security interest as required by credit approval by ensuring UCC financing statement are filed properly and timely
• In addition, this person will be responsible for ordering UCC searches and to follow for any waivers and/or subordinations that may be required
• Will be responsible for understanding how to handle titled vehicle transactions.
• Will be responsible for progress payment transactions, which will include receiving approved invoices for payment and processing requests for checks and/or wires ensuring that the money disbursed is in accordance with the credit approval
• Will be responsible for ensuring the CIT insurance policies and procedures are followed
• Responsible for all post close policies and procedures which includes bring down searches, auditing the InfoLease system for accuracy, uploading fully executed documentation to deal folders and preparing original documentation file to be shipped for off-site storage
• In addition to the above, this individual will act as a liaison with credit, sales, AMG and Jacksonville
Qualifications
• Understanding of equipment leasing and financing transactions and requirements
• Understanding of standard and non-standard documentation
• Understands sales, use and property tax laws
• Understand how to read and interpret UCC filings
• Understands insurance (general liability, property, automobile)
• Able to think quickly and apply company policies and procedures
• Excellent verbal and written communication skills
• Detailed oriented
• Excellent organizational skills, ability to multi-task