Director, Commercial Loan Operations
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POST DATE 8/14/2016
END DATE 1/4/2017
JOB DESCRIPTIONOverview: About CIT
CIT (NYSE: CIT) was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.
CIT is a financial holding company. It provides financing, leasing and advisory services principally to middle market companies across more than 30 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.
For more than 100 years, CIT has steadily innovated, providing carefully tailored financing solutions to meet the needs of a changing global economy. Along the way, CIT continually redefined what it means to be a financing partner, providing ideas as well as capital to build businesses - and relationships - that have endured for decades.
Responsibilities: POSITION DESCRIPTION
The Director will have oversight of operational processes and procedures that support Commercial Finance, SBA and Wealth Management. They will be responsible to ensure efficient, timely and accurate processing of loan activity in support of the Business Units. The Director will be responsible for training and mentoring of staff, manage the departments' processes and staff to ensure policy compliance with regulatory framework and internal policies and procedures. The successful candidate will also be responsible for daily review of activity and clearing of outstanding items in a timely manner. This position requires deep understanding of life of loan events including charge-offs, recoveries and modifications of commercial loans. He or she will be a contact point for Accounting, internal and external audits. The Director will ensure proper controls and reconciliations are in place in order to maintain accurate and timely loan bookings and disbursements, interest and fee collections and principal payments.
* Bachelor's degree required or equivalent experience.
* 7-10 years increasingly responsible experience in commercial banking operations and/or servicing.
* Must possess 5+ years supervisory experience.
* Must have had previous exposure to bank regulations i.e. OCC, SOX.
* Experience with OCC regulated lenders a plus.
* Proven leader with track record of mentoring and coaching
* Must possess prior experience managing departmental or business unit participation in internal audits.
* Must possess the ability to target critical business problems and apply appropriate decision making/technology/methodologies to resolve.
* Must possess the ability to prioritize, organize and manage tight deadlines on a daily basis.
* Must possess excellent written and oral communication skills are essential. Ability to prepare analysis and documentation for executive management that is actionable and reflects solutions.
* Knowledge of LIQ loan systems a plus.
* Must possess advanced proficiency in MS Office Suite specifically Excel, PowerPoint, and Project.