Senior Servicing Officer

Overview

Job Summary  

The Senior Servicing Officer independently manages credit risk and customer relationships for an assigned portfolio of loans, guarantees, and grants, including complex, high-profile, or high-risk accounts. This role also involves mentoring and training less experienced staff.

 

EDA Overview

• Join the NJEDA and help lead New Jersey to sustainable economic growth, fostering equitable opportunities and vibrant communities. We offer hybrid work, a supportive culture, and robust benefits, including health insurance, retirement plans, and extensive wellness programs. Make a tangible impact and shape New Jersey's future with innovative economic development at NJEDA.

Job Overview

• Independently manage credit risk and customer relationships within an assigned portfolio.
• Handle complex, high-profile, or high-risk accounts, including customer appeals and special projects.
• Mentor and train less experienced staff ex. intern or Servicing Officer (e.g. Interns, Temporary Staff, Servicing Officers etc.

$76,184 - $95,230

 

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 manager's 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

Duties

Daily Tasks and Responsibilities:

• Monitor loan payment delinquencies, manage customer relationships and collaborate with customers or bank partners to collect payments and resolve issues.
• Complete Quality Assurance reviews of new project loan files.
• Maintain 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.

Projects:

• Handle loan modification requests, including obtaining information, negotiating terms, performing credit analysis, and preparing approval memoranda.

• Conduct site visits to evaluate business operations and prepare site visit reports.

Goals and Objectives:

• Identify deteriorating credits promptly and assign appropriate ratings.
• Manage call options and loan maturity renewals promptly.
• Present loan approval requests to management and the Director’s Loan Committee.

Collaboration and Cross-Divisional Interaction:

• Promote teamwork and communication within the division, EDA staff, and external customers.
• Work collaboratively with Special Loan Management officers as needed.

Reporting Structure:

• Report to the Director, Loan Servicing Compliance (or delegate).
• Mentor and train less experienced staff.
• Must complete annual self-assessment as required.
• Performs other duties and special projects, as assigned.

Qualifications

Skills and Qualifications

Technical Skills:

• Ability to perform credit analysis of various financial statements and tax returns.
• Proficient in Microsoft Office Suite, CRM, Moody’s KMV, and Enable.

Soft Skills:

• Effective interpersonal, communication, and negotiation skills.
• Ability to prioritize workload and handle multiple tasks simultaneously.

Certifications:

• Relevant certifications/licenses as required.

Experience:

• Seven+ years of financial or banking experience, including commercial credit training, lending, loan review, or similar experience.
• An advanced degree or industry-specific certification may substitute for 1 year of experience.

Education:

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

Software/Tools Proficiency:

• Proficient in Microsoft Office Suite, CRM; Moody’s KMV, and Enable.
• NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred.

 

Additional Information

• Minimal physical demands and ability to work out normal business hours
• Travel expected when necessary for business operations