Servicing Officer - Finance

Njeda•Trenton, NJ

17d•Hybrid

About The Position

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

Requirements

Ability to perform credit analysis of various financial statements and tax returns.
Effective interpersonal, communication, and negotiation skills.
Ability to prioritize workload and handle multiple tasks simultaneously.
Proficient in Microsoft Office Suite.
Five years of financial or banking experience, including commercial credit training, lending, loan review, or similar experience.
Bachelor’s Degree in Business, Economics, Accounting, or Finance, or equivalent professional experience.
Proficient in Microsoft Office Suite, CRM, and Moody’s KMV.
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.
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 NJ State Ethics Guidelines found on the state website.
Selected candidates must be authorized to work in the United States per the Department of Homeland Security, United States Citizenship and Immigration Services regulations.

Nice To Haves

Advanced degree or industry specific certification may be substituted for 1 year of experience
NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred.
Proficient in using Moody’s KMV software for spreading financial statements.
Relevant certifications/licenses as required.

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.
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.
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.
Promote teamwork and communication within the division, EDA staff, and external customers.
Work collaboratively with Special Loan Management officers as needed.
Report to the Director, Loan Servicing Compliance (or delegate).
Must complete annual self-assessment as required.
Performs other duties and special projects, as assigned.