Analyst – CIT Credit Training Program
Overview:
The Credit Training Program offers a highly experiential, challenging career opportunity with exposure to the firm’s businesses and senior management. Credit Trainees have a unique opportunity to contribute in all facets of transaction generation and execution.
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.
Responsibilities:
The Credit Training Program offers a highly experiential, challenging career opportunity with exposure to the firm’s businesses and senior management. Credit Trainees have a unique opportunity to contribute in all facets of transaction generation and execution.
Credit Trainee responsibilities:
- Analyze financial statements and detailed financial information to build models for companies
- Prepare marketing documents including pitches, lenders presentations, confidential information memoranda, rating agency presentations and teasers
- Conduct comprehensive company and industry research
- Assist in authoring and coordinating committee documents
- Help manage internal deal processes which include performing business, financial and legal diligence, and educating internal risk and control groups.
- Maintain a pulse on financial markets and create leveraged loan market documents which examine topical issues and recent deal launches
- Construct comparable enterprise value and leveraged loan analyses to evaluate deal structures and pricing
Positions: Credit Trainee candidates will enter the Program at the Analyst or Associate level depending on education level and prior experience.
Please indicate in your cover letter or transmittal your top three business unit choices (in order of preference).
COMMERCIAL FINANCE DIVISION
This Division originates, structures and executes bank loan and bridge financings for corporate clients and financial sponsors. Typical transactions include leveraged buyouts, re-financings, recapitalizations, and restructurings. The group advises financial sponsors and below-investment grade corporate, providing capital structure advice and committed capital in support of strategic transactions. The group is aligned by industry and works closely with many areas across the firm.
Credit Trainees will have the opportunity to work with teams that offer diverse financing solutions that provide for: Working Capital, Growth Capital, LBO Financing, Acquisition Financing, Project Finance, Debt Refinancing, Recapitalizations, Turnarounds, Restructurings, Debtor-in-Possession Financing, and Confirmation Plan Financing.
For more information: https://www.cit.com/commercial-finance/
Open positions within Commercial Finance:
Aerospace Defense & GovCon provides comprehensive transportation financing solutions to manufacturers, suppliers and service providers in aerospace, defense, and government contractors. (Positions will be in NYC)
Asset Finance includes CIT’s Aviation Lending, Maritime Finance and Capital Equipment Finance teams which are collateral-backed lenders focused on specific industries. (Positions will be in NYC)
Commercial & Industrial delivers a broad range of innovative, cost effective debt solutions, including asset-based working capital financing (ABL)to middle market companies in all stages of the business cycle. (Positions will be in NYC)
Corporate Banking provides event-driven financing solutions & advisory (Positions will be in Santa Monica, CA)
Energy provides value-added financing products and financial structuring advice to higher growth, entrepreneurial companies throughout the energy and power sector. (Positions will be in Dallas and Santa Monica, CA)
Healthcare Finance provides financing solutions and related advisory services to hospitals and health systems, outpatient service providers, homecare and hospice companies, pharmaceutical and medical technology companies. (Positions will be in NYC)
Real Estate Finance provides financing for single properties, commercial construction, property portfolios and loan portfolios. (Positions will be in NYC)
Sponsor Finance provides cash flow and asset based senior debt for private equity backed transactions in the middle market throughout the United States. (Positions will be in NYC)
Technology, Media & Telecommunications provides recurring revenue, cash flow, real estate and asset based senior debt for middle market companies throughout the United States. (Positions will be in NYC or Livingston, NJ)
CAPITAL MARKETS & ASSET MANAGEMENT DIVISION
This Division is responsible for structuring, pricing and distributing all financial products originated by CIT. We provide derivative products, including Foreign Exchange, to our credit clientele. Our senior bankers possess significant capital markets experience together with an expert understanding of industry practices. With access to state-of-the-art technology and a commitment to superior execution, we deliver the highest possible level of service and industry knowledge. We offer a wide range of products and services to satisfy the needs of corporate institutions around the world.
For more information: https://www.cit.com/commercial/finance/commercial-finance/capital-markets/
Open positions within Capital Markets & Asset Management:
Capital Markets provides distribution for loans, bonds, leases and private placements. (Positions will be in NYC)
Syndicated Loan Group invests in broadly syndicated institutional term loans to large corporate Borrowers, focusing on higher quality BB-rated positions with selective single B-rated participation, to grow CIT client counts, support relationship development opportunities, and generate high risk adjusted returns. (Positions will be in NYC)
Qualifications:
- Bachelor’s degree required, with a major/concentration in finance, accounting, or economics preferred
- Internship experience in analytical roles in financial services required
- Outstanding academic achievement – minimum undergraduate GPA of 3.3 preferred, or an MBA