Senior Servicing Officer

Job Summary 

Independently manages credit risk and customer relationships on assigned portfolio of loans, guarantees and grants, including complex, high-profile or high-risk accounts.  Mentors and trains less experienced staff. Handles customer appeals. 

$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.

Essential Duties and Responsibilities 

• 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. 
• Manages call options and loan maturity renewals promptly.   
• Handles loan 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. 
• Mentors and trains less experienced staff (ex. intern or Servicing Officer).  
• Handles complex special projects. 
• Handles customer appeals to objectively and independently evaluate loan declinations or similar actions that are being contested by applicants. Researches issues, interviews customers, and works with AG’s office on legal implications and aspects of the appeals.  Follows EDA protocol.  
• 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. 
• Promote teamwork and communication to encourage and interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.  
• Performs other duties or special projects, as assigned. 
• Must complete annual and semiannual self-assessment as required. 

Required Qualifications 

Education and Experience Requirements 

• Bachelor’s Degree in Business, Economics, Accounting or Finance and/or equivalent professional experience 
• Seven+ 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 

Physical Demands 

• Minimal 

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

Travel 

• As necessary to 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. 

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, 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. 

NJ SAME Program 

 In accordance with P.L. 2021, c. 465 and P.L. 2021, 466, the SAME program was established to enable New Jersey State agencies to hire, promote, retain, and advance qualified individuals whose physical or mental impairments impact their abilities to participate in the hiring and promotion process for non-competitive and unclassified titles within the State workforce.  

The SAME program allows candidates, who identify as having a significant disability, to apply for non-competitive and unclassified positions through a fast track hiring process. This program uses a fast-track process that permits people who are eligible for the program to request that the State appointing authority schedule with them a good faith interview. For more information about the SAME program and the Fast Track Hiring program, please Click Here. If you have any questions, please email, or call the contact as indicated on the job vacancy announcement. 

This posting open to eligible applicants regardless of SAME eligibility. 

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.  
• Must review the required NJ State Ethics Guidelines found on the state website. 

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