Overview
CIT is now a division of First Citizens Bank. This role will assist in managing a portfolio of distressed corporate, real estate, and project finance exposures. Primary focus for this position is to maximize recoveries of our distressed loan and equity positions through restructuring efforts to bridge to an exit or turnaround. Qualified candidates would have a credit background and experience with financial modeling, valuation, and credit documentation.
Responsibilities
- Analyze financial statements and KPI reporting of Guarantors and distressed Borrowers.
- Develop three-statement models and valuation models to structure workout strategies, determine fulcrum position and assess Borrowers’ (i) repayment capacity and refinancing capabilities; (ii) covenants; and (iii) liquidity.
- Prepare and process portfolio reviews, credit action applications and upgrade/downgrade memos.
- Present the recommendations to senior management.
- Support Team Leaders in the development, implementation and monitoring of restructuring strategies.
- Assist Team Leaders in negotiations of amendments, waivers, restructuring proposals, and credit documentation with Borrowers, syndicate members, and other key creditors.
- Perform due diligence to identify risks associated with credit actions.
- Work collaboratively and interface across multiple internal business units including Origination, Legal, Compliance, Operations, and Credit.
The base pay for this position is relative to your experience but the range is $90,000 to $110,000. First Citizens offers a competitive, comprehensive benefits program which you can review here: https://jobs.firstcitizens.com/benefits.
Qualifications
Basic Qualifications:
- Bachelor’s degree.
- 1-2 years of experience in commercial banking or restructuring advisory.
- Strong credit skills and experience with financial modeling, spreading, valuation and credit documentation.
- Ability to review and analyze credit and financial information, Knowledge of financial principles and concepts
- Strong written, Excel, and presentation skills.
Preferred Qualifications:
- Preferred Area of Study: Accounting, Finance, or Credit
- Preferred Area of Experience: Commercial Banking or Advisory
- Experience in workouts and progress towards a CFA designation are a plus.
- Formal Credit Training