CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE:
CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.
The Portfolio Servicing Specialist is responsible for resolving and managing the Customer or Vendor's servicing and delinquency opportunities for our Equipment Finance (EF) and Small Business Solutions (SBS) business segments. Performs day-to-day activities that ensure effective account management of collections, End of Lease and Premier servicing accounts Communicates via phone conversations, email, fax and letters with customers concerning status of invoice payments Interfaces with Sales, Operations and Finance departments to resolve billing, collection and credit issues Establishes strong working relationships with field team to support collections efforts Works with customers in a proactive manner to resolve discrepancies Performs reconciliations and quality audits for accounts to maintain accuracy Liaison with Cash Operations to research and reconcile misapplied payments or payment issues. Resolves all overdue account balances, unassigned cash and payment discrepancies through research, communication and follow up with clients or field operations Manages End of Lease terms, documents LOI's and negotiates buyouts and loan purchases Facilitates the sale or renewal of assets on contracts at or beyond the initial lease term through negotiation tactics and creative alternatives to lease termination Have a firm understanding of the terms and conditions of the lease documents for the assigned vendor programs specifically related to the customer's end of lease options, and ability to accurately convey to customer, vendor or CIT sales reps