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.
CIT Bank N.A. Community Lending and Investment (CLI) is expanding its debt and equity products to help promote community and economic development, job creation and affordable housing in communities of need in Southern California. As one of the largest Financial Institutions headquartered in California, CLI provides both debt and equity products to a wide range of community development activities including affordable housing, community facilities, small business development and Community Development Financial Institutions.
The Assistant Vice President (AVP) of Community Lending & Investment Manager will be a key player in the Bank's achievement of its $5 billion community benefits plan related to Lending and Investing. This position will help grow and manage a portfolio of community development investing and debt commitments and will be responsible for processing community development lending and investment proposals and for the portfolio management of the community development lending and investment portfolio.
Experience in underwriting of affordable housing or community facility loans or investments.
Experience with closing of lending or investing opportunities a plus, including documenting, closing and funding which includes working with internal/external attorneys, escrow/title officers and third party consultants
Experience with the monitoring/asset management of lending and investing portfolio including assisting with timely receipt of reporting and monthly, quarterly and annual internal monitoring reports
Review all new applications for completeness and accuracy and follow up with customer on obtaining missing or incomplete items
Coordinate with Loan Funding on KYC submissions
Monitor loan costs and assist the Funding and Disbursement unit with preparation of closing statements
Ensure compliance with Reg B procedures, CRA and other regulatory procedures
Develop collaborative working relationship with CIT internal personnel to ensure the delivery of excellence in customer service.
Bachelor's degree required, MBA preferred
Must possess at least 5 years of commercial real estate experience with community development lending and investment underwriting preferred
Experience with CRA investment/lending preferred, including knowledge of affordable housing, community facilities, Low Income Housing Tax Credits, New Markets Tax Credits and other general real estate and equity investments specific to community development
Strong knowledge of ownership structures for commercial real estate assets and community development lending and investing and experience closing community development loans/investments a plus
Must be able to read, analyze and interpret various financial reports, third party reports (i.e. appraisals, environmental reports) and legal documents
Demonstrate superior skills for processing new deals, renewals, modifications and problem asset management
Must possess strong project management skills and a demonstrated ability to meet tight timelines/deadlines
Must possess strong verbal, written and interpersonal communication skills with the ability to interact with clients, bank executives and outside partners
Must be able to interface with senior Bank credit officers, lawyers, co-lenders, and other internal and external parties
Enjoy working in relationship management teams with a proven understanding of the importance of balancing asset quality and good customer service
Advanced Microsoft office (Word, Excel, an Outlook skills)
Ability to make timely and independent judgement decisions while working in a fast-paced, results-oriented environment while exercising sound judgement with attention to detail and accuracy skills