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    VP, Senior Underwriter-REF - Albany, NY, United States - CIT

    CIT
    CIT Albany, NY, United States

    3 weeks ago

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    Description
    OverviewCIT Group, Inc.

    recently merged with First Citizens Bank creating the 16th largest bank in the United States with over $200B in assets.

    The merger is highly synergistic – combining a retail and small business focused bank with a commercial middle market focused bank.

    The Real Estate Finance Division is an established franchise focused on providing customized financing and banking solutions to Commercial Real Estate owners, investors, and developers throughout the United States.

    The Real Estate Finance Division provides acquisition and construction loans on multifamily and commercial properties and is active in the major markets nationwide.

    This Vice President/Director leads underwriting efforts by servicing Real Estate Finance (REF) portfolios at the highest level of ability and complexity.

    Supports the REF lending team with expertise in structuring, analysis, and credit documentation for REF credit actions. Establishes viability of repayment sources and prepares credit approval memos. Identifies, gathers, and reviews financial information to determine credit grades and appropriate loan structuring. Assesses and communicates risks to assist department risk mitigation strategies.

    Provides service and support for both associates and customers, assisting in customer calls and may assist in identifying cross-sales opportunities.

    Offers guidance on escalated or difficult underwriting matters.

    Leads special projects as needed to facilitate REF lending activities and service capabilities and may act in a leadership role to less experienced underwriters in the work group.

    ResponsibilitiesThis is a Commercial Real Estate Finance Vice President/Director Underwriting position.

    Lead the underwriting of commercial real estate loans including bridge, transitional and construction for multi-family, office, retail, industrial, and hotel properties.

    Direct the collection, organization and interpretation of relevant market data.
    Review property and sponsor information – rent rolls, operating statements, balance sheets.
    Identify key transaction issues, risks and mitigation of risks.
    Produce credit approval memos and submit for approval.
    Lead the Underwriting discussion and participate in meetings with Credit.
    Coordinate due diligence information collection.
    Participate and manage the transaction process among key stakeholders across the Bank.
    Write and prepare term sheets; assist with legal documentation.
    Participate in the management of loans post origination, including risk ratings and classification.
    Working with the PM's, monitor compliance with loan terms and performance of existing portfolio of loans.
    Prepare quarterly and annual reviews where necessary.
    Work independently and collaboratively.
    Think critically.

    The base pay for this position is relative to your experience but the range is generally $150,000 to $205,000 per year.

    This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay.

    First Citizens offers a competitive, comprehensive benefits program which you can review here:
    .QualificationsVice PresidentBachelor's degree/MBA5 years experience underwriting ocommercial real estate loans including bridge, transitional and construction for multi-family, office, retail, industrial, and hotel properties.

    Facility with Word, Power Point, Excel, Argus, Moody's CMMPreferredPeople and process management skillsDirectorBachelor's degree/MBA10 years experience underwriting of commercial real estate loans including bridge, transitional and construction for multi-family, office, retail, industrial, and hotel properties.

    Facility with Word, Power Point, Excel, Argus, Moody's CMMPreferredPeople and process management skills
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