Brian Scully

Vice President, CIT Group Inc.

40 Under 40 Category: Underwriting

Biography:

Brian Scully is a vice president at CIT Group Inc., where he serves as an underwriter and portfolio manager of asset-based and cash flow leveraged loan transactions. He joined CIT in 2011, completing the CIT analyst program, and has steadily risen within the company to his current position.  Brian primarily focuses on commercial and industrial markets, including the retail, restaurant and fitness sectors, and has underwritten senior debt financing for leveraged buyouts, working capital, recapitalizations and restructurings. Brian also manages a portfolio of $280 million, including agented and sole lender transactions. In 2016, Brian received a CIT Chairwoman’s Award for Excellence for creating a standardized financial model template, which is used for leveraged loan transactions throughout CIT to analyze a borrower’s capacity to repay debt.

Brian has a Bachelor of Arts degree in economics from Washington and Lee University and an MBA from Columbia University, where he graduated with Dean’s Honors. Brian and his wife, Ashley, reside in New York City and are expecting their first child this fall.

What is the best professional advice you have been given and how have you implemented it?

“Take pride in your work.”

My father gave me this advice as I began my professional career, and I strive to incorporate this attitude into each and every aspect of my job. No matter how small an assignment, I remember that someone is counting on me to complete it thoroughly and successfully.  Taking pride in my work encouraged me to work hard, even when no one was watching, in order to achieve the best work product possible. I implement this advice by assuming my name will be associated with every project I work on, thus accepting full responsibility for each project’s success or failure. This mindset has been extremely important as my work product and attitude laid the foundation for a positive reputation. A positive reputation has allowed me to earn additional trust and assignments from my superiors, providing me with valuable learning opportunities.

What advice do you normally give to the junior talent you mentor/what advice would you give to forthcoming generation of talent aspiring to win this award?

I would give the forthcoming generation three pieces of advice: find work, ask questions and maintain a positive attitude.

As a new professional, it is critical that you seek out work rather than wait for an assignment. This proactive mindset will allow you to work on an increased number and variety of deals and projects. The more assignments you have, the more you will learn and the faster you will become a trusted teammate. Do not worry about receiving credit for the extra assignments you are completing; instead, focus on learning as much as possible from each new task. Ultimately, I believe my skillset and experience, developed through these additional assignments, were the driving factors behind my career progression. 

When you start your career, you will be a novice and should embrace appearing as one. Do not pretend to be an expert, but rather ask questions when you are unsure of an answer or the direction of an assignment. Asking questions is the best way to learn and demonstrates enthusiasm when you are just starting your career. I am thankful that I was able to ask questions and receive advice from experienced professionals throughout my career at CIT. I credit asking questions and receiving thorough and thoughtful responses with a large part of my personal achievement.

Finally, as with anything you do, it is extremely important to maintain a positive attitude. A positive attitude is particularly important as you start a career in banking, as you will be faced with a steep learning curve in a fast-paced environment. At the start of your career, you are effectively being paid to learn and should approach each task, whether it seems challenging or mundane, with enthusiasm. Your positive attitude will bolster your motivation and will be both recognized and rewarded by your superiors, creating more opportunities for growth. I believe actively maintaining a positive attitude early in my career helped me foster the positive relationships that have been extremely influential in my career development thus far.