Overview

Job Summary

M anages credit risk and customer relationships in an assigned portfolio of loans, guarantees and grants.

$65,484 - $81,855

Note: The NJEDA currently offers a hybrid work schedule for up to 2 days of telecommute work from home. To participate, you will be required to have high speed home internet access and a managers approval. This program does not supersede the "New Jersey First Act", which requires newly hired NJEDA employees to establish and then maintain, principal residence in the State of New Jersey.

Responsibilities

Essential Duties and Responsibilities

• Manages credit risk within assigned portfolio, including collecting and spreading all required borrower financial statements and c ompleting credit analyses reviews per department policies.

• Monitors loan payment delinquencies and works with customers to collect payments as needed, as well as to resolve administrative payment issues.

• Completes Quality Assurance review of new project files.

• Responsible for maintaining complete and up to date customer/project files, in EDA’s document management systems

• Promptly identify deteriorating credits and assign appropriate ratings. Involve Special Loan Management officers and processing transfers to Special Loan Management as needed.

• Manages call options and loan maturity renewals promptly.

• Handles loan modification requests, including loan maturity renewals, which includes obtaining needed information, negotiating terms of approval, completing a full credit analysis (including cash flow, collateral, EDA risk rating and loan pricing models), and preparing approval memoranda in accordance with delegated authority or board approval policies. Ensures loan documentation is amended accurately and promptly.

• Presents loan approval requests to management and Director’s Loan Committee. Attends EDA Board Meeting to address questions regarding those modifications requiring Board action .

• Conduct site visits with customers to evaluate business operations and management and to identify new business referrals opportunities. Prepares site visit reports.

• Stay abreast of pertinent subjects including bond regulations, financial and bond markets, economic conditions, GAAP standards, portfolio management, collateral control and legal issues .

• Promote teamwork and communication to encourage and interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.

• Must complete annual and semiannual self-assessment as required.

• Performs other duties or special projects, as assigned.

Qualifications

Required Skills and Abilities

• Ability to perform credit analysis of business (corporate, partnership, LLC, and non-for-profit etc.) financial statements and tax returns. Understand supporting information such as leases, cash flow reports, projections, and aging reports. Ability to interpret and analyze personal tax returns, statements and credit reports. Ability to prepare global debt service, collateral coverage and personal cash flow analyses.

• Ability to spread financial statements using Moody’s KMV software in accordance with commercial lending standards and EDA policies.

• Ability to analyze real estate, equipment, and corporate asset valuations using external appraisal reports and equalization values and determine collateral risk and calculate accurate Loan-To-Value ratios given EDA’s lien priority.

• Ability to interpret loan and bond documentation to identify actions and parities to the agreement required to complete bond customer request, and modification documentation needed to protect EDA’s interests in loans.

• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and promote effective relationships with business professionals and EDA staff.

• Ability to prioritize workload, must be highly organized and handle various tasks simultaneously and work independently within limited time constraints with little or no supervision.

• Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff.

• Effective analytical, interpersonal, negotiation and organizational skills

• Demonstrates respectful behavior and promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers

• NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred.

  Required Qualifications

  Education and Experience Requirements

• Bachelor’s Degree in Business, Economics, Accounting or Finance and/or equivalent professional experience

• Five years of financial or banking experience including commercial credit training, lending, loan review or similar experience

• Knowledge of private activity bonds, including direct purchase and publicly issued bonds, rules and regulations for tax exempt bonds, arbitrage and IRS filing requirements, tax compliance and related legal documentation

  Advanced degree or industry specific certification may be substituted for 1 year of experience

  Physical Demands

• Minimal

• Ability to work outside of normal business hours, as needed

  Travel

• As necessary to events, meetings, businesses, etc.

  Certificates and Licenses Required

• License: Staff are required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essentials duties of the position.

  Note

  The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description. Conversely, all duties performed on the job may not be listed. This job description is intended to convey information essential to understanding the scope, general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

  Your employment at NJEDA is voluntary and subject to termination by you or NJEDA at will, with or without cause, or with or without notice, at any time. Nothing in this job description shall be interpreted to conflict, eliminate or modify the employment-at-will status of NJEDA employees.

  This position is considered exempt and is excluded from minimum wage, overtime regulations, and other rights and protections afforded nonexempt workers under the FLSA.

  NJEDA reserves the right to amend/revise this job description as necessary to meet current and changing business needs.

  Equal Opportunity Employer

  NJ SAME Program

  In accordance with P.L. 2021, c. 465 and P.L. 2021, 466, the SAME program was established to enable New Jersey State agencies to hire, promote, retain, and advance qualified individuals whose physical or mental impairments impact their abilities to participate in the hiring and promotion process for non-competitive and unclassified titles within the State workforce.

  The SAME program allows candidates, who identify as having a significant disability, to apply for non-competitive and unclassified positions through a fast track hiring process. This program uses a fast-track process that permits people who are eligible for the program to request that the State appointing authority schedule with them a good faith interview. For more information about the SAME program and the Fast Track Hiring program, please Click Here (https://www.nj.gov/csc/same/overview/index.shtml) . if you have any questions, please email, or call the contact as indicated on the job vacancy announcement.

  This posting open to eligible applicants regardless of SAME eligibility.

Position Requirements

• Foreign degrees/transcripts must be evaluated by a reputable evaluation service at your own expense and must be submitted prior to a start date. If this cannot be provided within 21 days of an offer the offer will be rescinded.

• Must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.

• Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.

• Must review the required NJEDA Ethics Guidelines found on the state website.

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LocationUS-NJ

Job ID 2024-2111

Category/Department Loan Servicing & Compliance