Senior Product Officer - Venture Products

Job Summary  

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 The Senior Product Officer – Venture Products works as an integral member of the Venture Products Department within the NJEDA to support angel and venture capital investment programs in New Jersey, ultimately, with a focus to create economic growth for innovative businesses in the state of New Jersey. Core responsibilities for the job include building strong relationships with established corporate stakeholders, emerging innovation entrepreneurs, and public and private sector investment partners. This person is responsible for leading and managing specific financial programs within the Venture Products department to support the State’s innovation ecosystem.

$85,680 - $96,390

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.

Duties  

Daily Tasks and Responsibilities:

• Serves as the program subject matter expert promoting the Venture Programs with internal parties including, but not limited to marketing and communications, accounting, information technology and external parties including investors, entrepreneurs, service providers, and other State agencies. Assists EDA’s Legislative Officer with OPRA requests.
• Manage the day-to-day administrative functions for assigned products.
• Handle relationship management with external partners and potential company applicants as well as with internal NJEDA staff.
• Maintain pipeline of potential program applicants.
• Oversee application review process from submission through review and approval until final closing.
• Lead public presentations at NJEDA Board meetings.

Projects:

• Serves as a relationship manager for startups, venture capital firms, and angel investors. This includes outreach to establish and maintain relationships with corporate partners in targeted niche, institutional and strategic investors in the investment community, accountants and attorneys. Represents the Authority at networking events including speaking engagements and panel participation.
• Lead various programs as the senior subject matter and industry leading expert to create economic growth through supporting New Jersey’s innovation ecosystem, including overseeing stakeholder engagement, application review, compliance review, and all other aspects of program administration.

Goals and Objectives:

• Achieve specific KPIs related to program success and market impact.
• Maintain high-level of accuracy and compliance to auditable standards for tasks and deliverables.
• Develops knowledge and leverage relations expertise to enhance value from existing programs including NJ Founders & Funders, Golden Seeds, the Venture Fund Investment program, NJ Innovation Fellows, NJ Innovation Evergreen Fund, and others for the benefit of innovative entrepreneurs.   Plays a leadership role in new and existing program development and initiatives, including establishment of business processes, KPIs, marketing, policies, standard operating procedures in conjunction with Marketing, IT and back-office, and legal.

Collaboration and Cross-Divisional Interaction:

• Provides input to Authority leadership, Governor’s Office members, and other sister agency members on policy and technical matters related to Venture Investing sector topics and initiatives.
• Demonstrated ability to build an internal network of working relationships within the NJEDA e.g., Product Transactional Operations, Product Development, Underwriting, Closing, Post Closing, Public Affairs, etc.

Reporting Structure:

• Reports directly to a Manager within the Venture Products Department.
• This position will work under the supervision of the Manager, but will have decision making authority within the bounds of the defined guidelines of the Product for which they are assigned, including related delegation of authority for the subject program.
• Must complete annual self-assessment as required.
• Performs other duties and special projects, as assigned.

Skills and Qualifications

Technical Skills:

• Knowledge in venture fund and startup investment underwriting and portfolio analysis including:
  • Understanding of GAAP, income, balance sheet and cash flow statements
  • Ability to understand investment documentation from a legal and regulatory perspective
  • Sound concept of governance and fiduciary responsibility
• Proficiency in Microsoft Office Suite, a working knowledge of databases and the ability to learn new software packages including CRM.
• Must have a strong focus on financial details and possess analytical curiosity.
• Experience presenting publicly.

Soft Skills:

• Communication Skills: Ability to convey complex financial, business, and program information clearly and concisely to both technical and non-technical audiences as well as to internal NJEDA and external public groups, through written reports and verbal presentations.
• Time Management: Skill in managing multiple tasks and deadlines efficiently, prioritizing workload to meet project timelines, and adapting to a fast-paced environment where tasks and priorities can shift rapidly.
• Teamwork and Collaboration: Ability to work effectively in team settings, collaborating with colleagues across different departments to achieve common goals.
• Ethical Judgment: Upholding high ethical and compliance standards when handling sensitive information, managing financial programs, and making business decisions.

Experience:

• 7-10 years of practical business experience with significant exposure and credibility (or) within a similar position in another related field
• Experience in product development, public policy development and basic financial principles 
• Minimum of five years experience in a client-oriented work environment that required development and engagement with a broad professional network 
• Minimum of three years of program or product development or market engagement skills
• Advanced degree or industry specific certification may be substituted for 1 year of experience

Education:

• Bachelor’s Degree, preferably in a relevant field such as innovation, business, economics, finance or policy
• Master’s degree, preferred  

Software/Tools Proficiency:

• MS Office proficiency is a must; advanced proficiency in PowerPoint, Excel, and CRM are desired.
• 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, 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.
• Selected candidates must be authorized to work in the United States per the Department of Homeland Security, United States Citizenship and Immigration Services regulations. Note: The State of New Jersey does not provide sponsorship for citizenship to the United States.

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