Chris Derosa

About Chris Derosa

CIT Commercial Services is one of the nation’s leading providers of factoring and financing to consumer product companies. We tailor business credit solutions that help companies increase sales, improve cash flow, reduce operating expenses and eliminate customer credit losses. Our clients are companies that sell to a broad range of public and private retailers, wholesalers and distributors across the nation and abroad.CIT is one of the largest factoring companies in the United States. We have been in this business since 1928, making invoice factoring one of the oldest businesses of CIT.CIT’s account receivable factoring includes four main services:Credit protection and adviceAccounts receivable bookkeeping, including EDI invoice and payment processingCollections, cash management and lockbox processingWorking Capital A/R and inventory financingSupply Chain Finance: Buyers can optimize their working capital by extending their payment terms,while suppliers can gain immediate access to early payment at a cost based on the buyer’s credit standing.CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc.(NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets.Discover more at

Experience

1. Vice President New Business Development

   Cit

   Apr 2021 — Present · Los Angeles, CA, US

   Increase new business by identifying, sourcing, and closing viable B2B prospects to clients for factoring, asset based lending in the consumer product space (Focus in Apparel, Footwear, Furniture, Consumer Electronics, Housewares, Toys, and Sporting Goods)-Source companies that use CIT\'s trade credit intelligence by outsourcing its Accounts Receivable with stand alone non-recourse factoring product. 100% credit protection against A/R bad debts with no deductible. Full A/R EDI invoice processing, collections, cash application and lockbox services on B2B transactions reducing operating expenses and improving DSO days- Supply Chain Finance: Buyers can optimize their working capital by extending their payment terms,while suppliers can gain immediate access to early payment at a cost based on the buyer’s credit standing-Responsible for independently developing and implementing sales strategy through direct prospecting of companies and referral sources. Identify and nurture intermediary relationships (CPA\'s, attorneys, bankers, turnaround professionals, investment banks and private equity funds)-Develop and conduct prospect meetings and ultimately issue deal proposals after understanding banking and credit protection needs-Partner with underwriting team to tailor solutions that meet the prospect\'s needs while managing bank risk exposure. Manage prospect expectations throughout the deal process ensuring a successful close-Identify opportunities to cross-sell suite of banking products/services as appropriate-Attend relevant regional industry events, trade shows for networking and new business opportunities.

Education

• Loyola Marymount University

  BA, Business

  1996 — 2000

• University of La Verne

  MBA, Finance