Independently manages credit risk and customer relationships on assigned portfolio of loans, guarantees and grants, including complex, high-profile or high-risk accounts. Mentors and trains less experienced staff. Handles customer appeals.

$76,206 - $84,673

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  Independently manages credit risk within an assigned portfolio with little oversight and guidance.
• Monitors loan payment delinquencies and works with customers and bank partners to collect payments as needed, as well as to resolve administrative payment issues.
• Completes Quality Assurance review of new project loan files.
• Responsible for maintaining complete and up to date customer/project files, in EDA’s document management systems
• Ensures all required borrower financial statements are collected and credit analyses reviews are performed per department policies.
• 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.
• Mentors and trains less experienced staff (ex. intern or Servicing Officer).
• Handles complex special projects.
• Handles customer appeals to objectively and independently evaluate loan declinations or similar actions that are being contested by applicants. Researches issues, interviews customers, and works with AG’s office on legal implications and aspects of the appeals. Follows EDA protocol.
• 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.
• Performs other duties or special projects, as assigned.
• Must complete annual and semiannual self-assessment as required.

• 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.
• Effective interpersonal skills and ability and interest to mentor and train less experienced staff.
• 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 documentation 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
• Proficient in Microsoft Office Suite, CRM; Moody’s KMV and Enable; possess the ability to learn new software packages quickly.

Required Qualifications

Education and Experience Requirements

• Bachelor’s Degree in Business, Economics, Accounting or Finance and/or equivalent professional experience
• Seven+ years of financial or banking experience including commercial credit training, lending, loan review or similar 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

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  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.