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Senior Field Examiner
CIT
Los Angeles, CA, 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
Responsibilities: Lead collateral field examinations. Prepare field exam reports on prospects and recurring factoring clients. Substantiate client collateral positions in support of available collateral. Conduct review of client accounting systems, operations and internal controls. Apply understanding of A/R, A/P, inventory and cash management systems such as in-transit inventory, bank reconciliations, cash applications and disbursements. Act as liaison between clients and CIT. Domestic travel up to 50% to unanticipated client sites.
Qualifications
Requirements: A Master’s degree in Business Administration, Finance, Accounting or a related field and two years of experience in the job offered or two years of experience conducting collateral field examinations. Experience must include two years of the following: preparing field exam reports including work papers and a narrative section for U.S. banks and financial institutions, preparing borrowing base certificate (BBC) for ABL deals, substantiating collateral positions in support of existing/new lines of credit, evaluating the quality and condition of A/R, A/P and inventory, and conducting reviews of accounting systems, operations and internal controls. Experience may be gained concurrently. Domestic travel up to 50% to unanticipated client sites.