Manages compliance monitoring activities and borrower/grantee document report processing in business loan and grant portfolios according to program requirements and EDA policies.
$51,161 – $63,951
Essential Duties and Responsibilities
- Monitors loan payment delinquencies and works with customers to collect payments as needed, as well as to resolve administrative payment issues.
- Responsible for tracking required reporting and compliance monitoring for business loans and grants, including but not limited to employment reporting, financial statement collection and other reports in CRM. Follows up as appropriate including sending notices, default letters, and working with customers to cure deficiencies when possible. Creates compliance exception records in CRM, independently manages follow up and working with assigned officer or manager toward resolutions. Prepares periodic reporting etc. as requested.
- Objectively evaluates and approves forgiveness of eligible products when appropriate according to program criteria of the Micro Business loan portfolio, including verifying continued operation/existence and [completing the product end process.]
- Handles loan registrations for the CDFI loan loss guarantee program. Evaluates requests for payment against program requirements and works with the product Servicing Officers and/or SLM officers to process guarantee pay outs as needed.
- Evaluates, reviews and processes disbursement requests on NJ ZIP, NJ Ignite and other grant programs.
- Completes new product reviews
- Co-ordinates documentation of loan modification requests, including loan maturity renewals, subordinations, consent to additional debt etc. Ensures loan documentation is amended accurately and promptly.
- Promptly identifies deteriorating credits, sends default letters, involves Special Loan Management officers and processing product transfers to Special Loan Management as needed.
- Responsible for maintaining complete and up to date customer/project files, in EDA’s document management systems
- 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.
Required Skills and Abilities
- Ability to read, understand and interpret loan/guarantee documents.
- Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster effective communications with business professionals and EDA staff
- Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little or no supervision
- Collaboration with team members
- Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
- 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.
Education and Experience Requirements
- Bachelor’s Degree in Business, Accounting, Economic Development or related field and/or equivalent professional experience
- Two to five years’ job-related work experience
Advanced degree or industry specific certification may be substituted for 1 year of experience
- Ability to work outside normal business hours, as needed
- As necessary to events, meetings, businesses, etc.
Certificates and Licenses Required
- Valid driver’s license
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
- 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.