VP - Business Development OfficerCIT Group Inc.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of 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.
CIT Equipment Finance (CITEF) is the full-service, vendor-centric lending/leasing business unit of CIT Bank, N.A., a National Association and the primary banking subsidiary of CIT Group, Inc., a financial holding company. CITEF provides a wide array of lending and leasing products/ solutions to customers ranging in size from small/medium businesses to enterprise entities through its affiliation/alignment with OEM equipment vendors, their distributors, resellers and dealers (collectively, \u201cvendors\u201d).
The primary objective of this role is to develop/expand vendor financing relationships within the technology equipment supply chain that possess strong long-term growth potential and an attractive return profile and that will generate meaningful end-user equipment financing transaction volume. The incumbent\u2019s success will be directly tied to his/her ability to be viewed as a consultative business partner, as well as ability to succinctly but eloquently communicate/sell CITEF\u2019s value proposition into the marketplace.
The Technology Equipment Vertical Business Development Officer will be responsible for the end-to-end sales cycle, inclusive of vendor prospecting, opportunity identification, program development/proposal, program negotiation/closing, program onboarding/launch, and end-user financing volume achievement.
Required Job Responsibilities:
\u2022 Identify, develop, structure, close and maintain vendor-centric equipment finance opportunities through both interaction at the appropriate vendor management level (C-suite), as well as \u201cownership\u201d of the internal CIT sales cycle in its entirety, so as to meet or exceed assigned financial targets.\u2022 Detail-manage all calling activities through CITEF\u2019s CRM (Salesforce.com).\u2022 Articulate/promulgate the CITEF value proposition across existing relationships in an effort to grow CIT brand awareness and market share. \u2022 Ensure that program development includes appropriate interaction/consultation with all internal line functionality (described above) so as to ensure that all CIT/bank objectives and policies are met.\u2022 Interface/coordinate with other business units within CIT, as appropriate, to help expand/broaden relationships and cross-sell relevant CIT products (i.e. depository/treasury management services).
\u2022 BS degree in Accounting/Finance, Marketing or related business discipline.\u2022 3-5 years minimum experience in a consultative business development role with a bank, independent finance company or captive finance company with demonstrated success/growth.\u2022 Ability to work remotely and travel as required.
Additional Success Drivers
\u2022 Very strong organizational/analytical skills.\u2022 Very strong written-verbal communication/presentation/public speaking skills.\u2022 Broad contract negotiation/relationship management skills.\u2022 Deep understanding of technology marketplace, the capabilities of competitors and current market trends including, but not limited to recurring revenue/aaS, electronic documents and block chain.\u2022 Demonstrated creativity in both program and transaction structuring.\u2022 Ability to work closely with/coordinate across/manage all internal line functionality (Operations, Legal, Risk, Asset Management, Finance/Pricing), in the completion of his/her assigned responsibilities.
2 days 17 hours ago
applyVP - Business Development Officer CIT Group Inc. - , , United States
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.
Jobs You Might Also Like
- Vice President, Private Banking Officer in Arizona - Militar...
- Senior Vice President of Finance, Products
- Senior Vice President, Finance
New York City, NY
- VP - Business Development Officer