Bond Compliance Associate

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  

• Processes, monitors, and tracks bond-related post closing matters 

• Handles compliance efforts and inquiries on closed taxable and tax-exempt bonds to identify and control reputational and financial risk. 

• Ideal candidates will possess excellent analytical and organizational skills, ability to learn, understand, and interpret bonds and NJ Statutory and EDA regulatory guidelines.  

$61,600 - $65,450

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.

Daily Tasks and Responsibilities: 

• Responds to inquiries/notices from bondholders, trustees, borrowers, insurers, credit enhancers and others in connection with closed bonds, assists with OPRA requests, locates and provides requested documents to OPRA officer. Creates monitoring and compliance exception records in CRM, independently manages follow up and works with bond counsel, trustee, and/or borrower towards resolution. 

• Handles tax-exempt bond compliance efforts including responding to arbitrage rebate questions from conduit bond borrowers, responsible to oversee consultant contracts and rebate reports needed for State-backed bonds.  Provides invoices, rebate reports and disclosures on State-backed transactions as required. Processes rebate reports from consultants, reviews to determine monies due and ensures payment by OPF and submission to the IRS with notice to trustee on respective issues. 

• Monitors and tracks annual compliance certificates, tax completion certificates, 8038-CP’s, 1097-BTC’s and other IRS required documents; uploads and processes all pertinent documents into EDA’s Customer Relationship Management System (CRM). 

Projects: 

• Reviews tax compliance agreements for large state-backed bonds, coordinating with bond counsel, Treasury and Schools Development Authority, and other state agencies as necessary. Helps prepare annual summary reports to the Authority's designated Tax Compliance Officer (i.e., President and COO). Identifies and attends required bond compliance training 

• Researches and updates status of bond borrower in CRM including mortgage discharge requests, redemption requests, and payoff verification at maturity date. 

• Supports Bond Compliance Officer and/or Program Manager to ensure timely and appropriate responses to IRS bond audits. Works with borrowers and DAG's office to engage counsel as needed, coordinates and oversees the preparation of responses to IRS information documentation requests, and Tax-Exempt Bond Voluntary Closing Agreement Program (VCAP) filings, monitors negotiations between the borrowers and IRS; once finalized, ensure corrective actions (redemptions, fees/interest payments, etc.) are made by borrowers as necessary. 

Goals and Objectives: 

• Responsible for maintaining complete and up to date customer/project files, in EDA’s document management systems 

• Assists Program Manager/Bond Compliance Officer(s) in the review and update of Bond Policies and Procedures.  

• Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff 

Collaboration and Cross-Divisional Interaction: 

• Develops and maintains strong relationships with stakeholders such as the Business Development Team, Underwriters, the Real Estate Division and the AG’s office. 

• Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers. 

Reporting Structure: 

• Reports to Program Manager of Bond Compliance 

• Must complete annual self-assessment as required. 

• Performs other duties and special projects, as assigned 

Skills and Qualifications  

Technical Skills: 

• Ability to review complex bond documents and NJ statutory and EDA regulatory guidelines 

• Ability to learn, understand, and interpret conduit bonds and state-backed bond programs 

Soft Skills: 

• 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 

• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications 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.

Experience: 

• Two to five years job-related work experience 

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

• Experience with legal documents a plus 

Education: 

• Bachelor’s Degree in business, Accounting, or related field and/or equivalent professional experience 

Software/Tools Proficiency: 

• Proficient in Excel  

• 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 Departmentof Homeland Security, United States Citizenship and Immigration Services regulations. Note: The State of NewJersey does not provide sponsorship for citizenship to the United States.