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Specialist III

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POST DATE 8/28/2016
END DATE 10/20/2016

CIT West Covina, CA

West Covina, CA
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Full Time
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Overview: 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: The Coordinator (Specialist III) will help the department gather and process institutional, commercial, brokered and listing services deposits to help fund the leasing and lending portfolio needs of CIT's Commercial Banking Division. The Coordinator is responsible for processing all IDG transactions. Our clients are: the Presidents, CEOs, CFOs, Treasurers, Board Members of Financial Institutions, Government Entities, Brokerages, and Corporations. We also service a national group of Financial Planners, Deposit Brokers, Broker-dealers, and Fund Managers.

* Responds to client inquiries and either solves clients' problems on their own or escalates issues to his/her supervisor for resolution.

* Follows established privacy, regulatory and security procedures.

* Be familiar with omnibus Deposit Agreements for: Insured Savings Account (ISA), Insured Network Deposit Account (IND), and Brokered Sweep Account.

* Demonstrate understanding of Depository Trust Company (DTC) Brokered CDs, DTC Callable Brokered CDs, Brokered Sweep Business Money Market Accounts, Institutional Deposits, Listing Service Deposits, and Commercial Deposits. Will train.

* Develop a working relationship with the Depository Trust Company, a national audience of Fund Managers, Deposit Brokers, Listing Service Agencies, and the major Brokerage Companies.

* Be able to use the GFX incoming and outgoing wire transfer system proficiently. Will train.

* Proficient using FIS/IBS Teller Insight, Insight, and Deposit Origination.

* Clear understanding of interest accruals, interest calculations, and interest adjustments.

* Help with the monthly true-up/balancing of Brokered Sweep Accounts, Insured Savings Account, and Insured Network Deposit Accounts using contractual Libor or FED Fund index plus a variable.

* Be familiar with Health Savings Plan Account Sweep. Will train.

* Process all transactions within assigned limits. Be comfortable processing multi-Million dollar transactions.

* Be able to multi-task using two independent sets of workstation equipment to process brokered Certificate of Deposit (CD) and Legacy CIT Institutional CD transactions and use the second workstation equipment to process Legacy OneWest Bank transactions.

* Assists the management team with critical reports: The Call Report, B Notice Withholding Report, Uninsured FDIC Report, and the Deposit Pricing Committee report.

* Cross-sell Treasury Management Group (TMG) products and services. Cross sell the Bank's other products and services.

* Provides detailed product information to clients and prospective clients. Should be conversant on all department products and services.

* Conducts all department operations and client transactions according to the CIT Bank's Core Values.

* Knowledge of Excel is needed.

Qualifications: The candidate must be proficient in all deposit, withdrawal, new account, and back office functions, duties and responsibilities. Must have banking experience, sales referral experience. Must exhibit a professional appearance. Must be able to work with high net worth clients. The candidate is expected to have a clear understanding of the department's Standards, Policy and Procedures. The Specialist II must be able to work independently, is expected to deliver Superior Customer Service and must demonstrate strong Teamwork skills. He/she must have strong communication skills. Be able to understand advanced concepts pertaining to the gathering of: Institutional, Commercial, Brokered, and Listing Services Deposits. May function as a back-up to the department's Lead Specialist.