VP, Sr Commercial Underwriter - CRA

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Job description

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 VP, Senior Commercial Underwriter will report to the Managing Director of Community Lending & Investments (CLI) based in Pasadena, California.

The Senior Commercial Underwriter is responsible for conducting market and credit analyses to determine borrower and project suitability, impact on the community and prepares summary and supporting information for loan approval decisions. Applies problem solving skills and uses creativity to turn challenges into viable transactions. Fosters the development of relationships with lead generators to enhance the quality and quantity of applications.

ESSENTIAL DUTIES AND RESPONSIBILITIES :

Review loan requests, determine and match borrower need, and verify the information provided.
Analysis of construction projects including budget review, GC approval, timeline accuracy, and sponsor experience
Spread financial information from financial statements and tax returns
Analyze industry, market, and financial information, including tax returns, financial statements and comparing applicable ratios.
Analyze area poverty level, median income, economic hot zone, need for affordable housing or other public benefit to assist in determining viability of project.
Prepare detailed analysis on the project such as mission of the borrowing organization and the proposed impact on the community.
Proactively communicate with the borrowers throughout the process.
Prepare clearly written communication that reflects thorough and complete analysis, and a well-reasoned recommendation with supporting rationale for Loan Committee approval.
Process applications within timelines specified for products and applicable programs.
Ensure all due diligence is complete to timely and accurately close and fund the loan.
Communicate with brokers/borrowers any requirements for additional documents and credit decisions.

Superior critical thinking skills
Ability to effectively and professionally interact and work with customers, brokers, and colleagues.
Ability to work independently, self-starter.
Strong PC skills, especially in Excel and Word
Excellent verbal and written communication skills required.
Solid commercial credit and analytical skills and a thorough understanding of general economic theory as it relates to the lending and business environment.
Thorough level of knowledge in commercial credit analysis, underwriting, administration, policy, and procedure.
Comprehensive knowledge of accounting and finance principles.
Familiarity with the financing structures of Low-income Housing Tax Credits, New Markets Tax Credits, and other community development projects.
Experience with underwriting and evaluating non-profit organizations, affordable housing, community facility loans and Local and Federal grant funding
Experienced understanding of construction lending

Education and/or Experience:

Bachelor's degree (BA/BS) from four-year College or University, plus at least five years related commercial experience.
Prior financial institution commercial underwriting experience either from a Bank, Community Development Financial Institution, or other institutional lender, with a focus in non-traditional credit preferred.
Prior knowledge of construction underwriting required. Attention to detail is a must

CIT is committed to Equal Employment Opportunity. It is CIT's policy to provide equal employment opportunities to all qualified applicants without regard to their race or perceived race (including traits historically associated with race, such as hair texture and protective hairstyles), color, national origin, nationality, ancestry, citizenship, immigration status, age, sex (including pregnancy, lactation, childbirth or related medical conditions), actual or perceived gender, gender identity, gender expression or transgender (including transgender individuals who are transitioning, have transitioned, or are perceived to be transitioning to the gender with which they identify), religion, creed, marital status, family status, domestic partnership or civil union status, affectional or sexual orientation, atypical hereditary cellular or blood trait, genetic information or predisposition or carrier status (including testing and characteristics), status as a victim of domestic violence, actual or perceived status as a caregiver, military status and service, protected veteran status, mental or physical disability, perceived disability, record of disability, medical condition, AIDS and HIV status, or any other protected characteristic established by applicable federal, state, or local laws. If you would like more information about your EEO rights as an applicant under the law, please click here:

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