Team Lead - Loan Servicing

Location US-NJ-Trenton | US-NJ-Newark | US-NJ-North Brunswick | US-NJ-Camden
Job ID
Loan Servicing & Compliance


Job Summary

Leads a team of employees charged with credit risk and customer relationships on assigned portfolio of loans, guarantees and grants. Manages and services an assigned portfolio of loans, guarantees and grants.  Ensures compliance of credit projects.

$87,638 - $97,376


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.


Essential Duties and Responsibilities


Team Lead:

  • Leads a team of 3 - 5 employees including Sr. Servicing Officers, Servicing Officers, and Temporary Workers/Interns. Works with Director to build and develop a team. Mentors and provides coaching to team to advance skills and behaviors to enhance performance.
  • Guides staff to manage customer relationships. Leads the team in the evaluation and approval as appropriate of project modifications, extension requests, and problem resolutions in timely manner, working with other EDA departments as needed.
  • Assists Director in establishing and monitoring staff for performance against goals.  Participates in setting objectives.  Provides feedback on the annual and semi-annual performance reviews.
  • Oversees the collection and analysis of customer financial statements. Assists with development of and compliance with loan servicing policies and procedures. Makes recommendations to improve efficiencies and compliance efforts and facilitates its implementation.
  • Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.

Portfolio Management:

  • 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.
  • Handles loan call options and 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.
  • 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.
  • Handles complex special projects.Performs other duties or special projects, as assigned.
  • Must complete annual and semiannual self-assessment as required.
  • Performs other duties and special projects, as assigned.



Required Skills and Abilities


  • Ability to effectively lead a team with diverse levels of expertise and focus
  • Effective customer relationship skills, interpersonal skills, strong aptitude for mentoring and coaching less experienced staff
  • Proficient in Microsoft Office Suite, CRM; Moody’s KMV and Enable; possess the ability to learn new software packages quickly.
  • 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.
  • 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.
  • 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
  • Must possess high level analytical skills and excellent problem-solving skills.
  • Energetic, flexible, collaborative and proactive; a team leader who can positively and productively impact both strategic and tactical initiatives
  • Ability to identify the need for procedural changes and propose reasonable remedies to improve process efficiencies and strengthen compliance efforts


Required Qualifications


Education and Experience Requirements

  • Bachelor’s Degree with emphasis in business, accounting, finance or economics and/or equivalent professional experience
  • A minimum of seven years’ experience in commercial lending, economic development or finance
  • Previous supervisory experience preferred


Advanced degree or industry specific certification may be substituted for 1 year of experience


Physical Demands

  • Minimal
  • Ability to work outside normal business hours, as needed



  • As necessary to site visits, 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.




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


Position Requirements


  • 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.




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