VP, Underwriting & Portfolio Management - Maritime
New York City, NY, USA | CIT Group
Functions:Financial Services Professional
Job Description:103 people have viewed this job
Reporting to the Head of Underwriting & Portfolio Management for Maritime Finance, individual will be responsible for underwriting as well as portfolio management of asset-backed maritime financing transactions, leading deal teams, mentoring junior resources, and assisting with the preparation of presentations and reports for regulatory and internal informational purposes.
New business – Play a key role in deal teams to evaluate new transactions, pre-screen transactions, conduct due diligence, prepare credit approval memos on transactions that are green-lighted in the pre-screen process, present transactions to credit committee in order to obtain credit approval, collaborate with legal team to negotiate and review commitment letters and legal documentation as needed, and participate in deal closing
Analyze financial statements and capital structures, conduct business/industry analysis to identify transaction risks and mitigants; recommend transaction structures appropriate to the opportunity; provide Head of Underwriting with a recommendation on the transaction based on due diligence and financial modeling
Manage assigned portfolio accounts - monitor performance and covenant compliance, prepare trend cards and periodic/annual reviews, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to manager; identify and act on warning signals, participate in portfolio reviews as needed
Maintain familiarity with CIT policies, procedures, and underwriting standards
Interface with other departments within CIT, such as Legal, Operations, Insurance, Problem Loan Management, Capital Markets, Corporate Risk Management, Compliance, Loan & Risk Review, and Internal Audit
Develop maritime industry knowledge and track industry trends across the various sub-sectors including dry bulk, tankers, containerships, LNG/LPG, and other niche segments
Interface with customers to complete diligence process, gather key information for credit analysis, and obtain periodic materials such as financial statement, compliance certificates, etc, as well as assist the relationship management efforts of the Originators
Interface with and independently manage information requests received from auditors and loan examiners (internal as well as external, including regulators), prepare reports for regulatory and internal informational purposes, as well as work on any special projects as per business needs
Mentor junior resources for the business
• Bachelor’s degree with a concentration in finance or accounting preferred. MBA/CFA/CPA a plus.
• Maritime sector experience a plus
• 3-7 years of experience in commercial lending, investment banking. securities research, or other financial analysis-intensive arena; credit training with experience in the underwriting and execution effort on senior debt transactions is preferred
• Completion of a formal credit training program is desired but not required
• Must have a solid understanding of financial statements and capital structures, and possess strong analytical skills with an ability to question assumptions.
• Must have strong writing ability; will be expected to draft credit memoranda and annual reviews for manager’s review with minimal supervision.
• Experience with structuring transactions and negotiating documentation is preferred.
• Strong communication and interpersonal skills; team player.
• Self-motivated with high energy levels; ability to prioritize and multi-task effectively.
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