Business Development Officer job – CIT Group – Los Angeles, CA

Business Development Officer

CIT Group

157 reviews


Los Angeles, CA

CIT (NYSE: CIT) was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.

CIT is a financial holding company. It provides financing, leasing and advisory services principally to middle market companies across more than 30 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.

For more than 100 years, CIT has steadily innovated, providing carefully tailored financing solutions to meet the needs of a changing global economy. Along the way, CIT continually redefined what it means to be a financing partner, providing ideas as well as capital to build businesses – and relationships – that have endured for decades.

Responsibilities:

POSITION DESCRIPTION

The primary responsibility is to increase new business by identifying, sourcing, and closing viable prospects for Factoring and Asset-Based Lending deals across a variety of industries, with an emphasis on core industries within an assigned geographic territory. The individual is responsible for independently developing and implementing the sales strategy, identifying appropriate referral sources and prospective clients. This position is based in Los Angeles.

Core responsibilities include:

  • Research and identify new and viable direct prospect opportunities. Originate transactions through direct calling on companies
  • Identify and nurture intermediary relationships (CPA’s, attorneys, bankers, turnaround professionals, investment banks, private equity funds and other appropriate intermediaries)
  • Develop and conduct prospect meetings and ultimately issue deal proposals by applying an understanding of the prospect’s industry and unique financial needs
  • Partner with the underwriting team to tailor solutions to meet the prospect’s unique needs while effectively managing CIT’s risk exposure; manage prospect expectations throughout the deal process ensuring a successful close
  • Identifying opportunities to cross-sell products/services as appropriate
  • Identify and attend relevant and appropriate industry and regional events and trade shows for networking and new business opportunities as appropriate
  • At least 25% business travel required to cover assigned geographic region
  • Manage sales activities in SalesForce.com

Qualifications:
QUALIFICATIONS

  • Bachelor’s degree in Business, Economics, Finance or related field required; MBA desired;
  • Minimum 5-10 years’ experience in Factoring or Commercial Lending
  • Ability to source leads and convert prospects to clients
  • Demonstrated presentation sales, negotiation and influencing skills
  • Demonstrated success working collaboratively to achieve team goals
  • A general knowledge of lending deal structuring
  • Proficient computer skills, including the ability to develop and maintain a contact database and maintain records in SalesForce.com
  • Knowledge of/or experience in consumer product industries like Apparel, Textile, Consumer Electronics, Housewares, Toys, Sporting Goods, or Hardware industries a plus

157 reviews

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides…

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