Servicing Officer - Finance

Overview

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

• Manage credit risk and customer relationships within an assigned portfolio.
• Handle loan payment delinquencies and administrative payment issues.
• Conduct quality assurance reviews of new project files.

$71,600 - $80,550

 

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

Duties

Daily Tasks and Responsibilities:

• Manage credit risk within the assigned portfolio, including collecting and spreading all required borrower financial statements and completing credit analyses per department policies.
• Monitor loan payment delinquencies and collaborate with customers to collect payments and resolve administrative payment issues.
• Maintain complete and up-to-date customer/project files in EDA’s document management systems.

Projects:

• Handle loan modification requests, including loan maturity renewals, obtaining needed 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).
• 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 using Moody’s KMV software for spreading financial statements.

Soft Skills:

• Effective interpersonal, communication, and negotiation skills.
• Ability to prioritize workload and handle multiple tasks simultaneously.
• Proficient in Microsoft Office Suite.

Certifications:

• Relevant certifications/licenses as required.

Experience:

• Five years of financial or banking experience, including commercial credit training, lending, loan review, or similar experience.
• Advanced degree or industry specific certification may be substituted 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, and Moody’s KMV.
• 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

 

Certificates and Licenses Required

• 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,