Credit Analyst

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

• Analyze and evaluate commercial loan, incentive, and real estate underwriting applications to support NJEDA’s mission of fostering economic growth while minimizing credit risk.
• Structure and recommend credit arrangements, ensuring compliance with internal policies, statutory requirements, and industry standards.
• Excel in a fast-paced environment by demonstrating strong analytical, organizational, and communication skills, with the ability to manage multiple priorities and interact effectively with both internal and external stakeholders.

$61,600 - $65,450

Duties

Daily Tasks and Responsibilities:

• Review and analyze loan, incentive, and real estate underwriting applications for completeness and accuracy, including financial statements, cash flow, collateral, and compliance with program guidelines.
• Conduct applicant interviews to gather business, financial, and operational information; negotiate loan terms and conditions as needed.
• Prepare detailed credit memoranda and recommendations for approval, ensuring all documentation meets NJEDA standards and regulatory requirements.

Projects:

• Participate in special projects related to new product development, process improvement, and cross-departmental initiatives to enhance underwriting efficiency and effectiveness.
• Support the implementation of new underwriting programs and contribute to the development of policies and procedures.

Goals and Objectives:

• Achieve timely and accurate completion of credit analyses and recommendations, meeting established turnaround times and quality benchmarks.
• Maintain a high level of compliance with NJEDA policies, statutory requirements, and audit standards, as measured by internal reviews and external audits.

Collaboration and Cross-Divisional Interaction:

• Work closely with colleagues in Credit and Finance, Economic Transformation, Community & Business Development, Closing Services, Legal, and other departments to ensure seamless processing and closing of transactions.
• Foster a collaborative and customer-focused work environment by actively participating in team meetings and cross-functional projects.

Reporting Structure:

• Report directly to the Vice President, Credit and Finance or designated supervisor within the Credit and Finance department.
• Operate with moderate independence, escalating complex or high-risk matters to senior staff or management as appropriate.

Skills and Qualifications

Technical Skills:

• Understanding of GAAP, income, balance sheet and cash flow statements and personal net worth statements and tax returns
• Ability to understand sound lending and underwriting principles, industry standards and regulatory compliance
• Ability to understand loan approval procedures, closing and disbursement processes
• Ability to understand loan documentation, appraisals, environmental reports, NJEDA loan policy and procedure manual
• Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and function effectively under pressure
• Excellent interpersonal and negotiating skills when dealing with external business professionals and NJEDA staff
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
• 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 advanced Microsoft Office suite, Moody’s Financial Analyst and database skills and have the ability to learn new software programs.
• Advanced Microsoft Office, Moody’s Financial Analyst, database skills the ability to learn new software packages

Soft Skills:

• Demonstrate strong analytical and critical thinking abilities with attention to detail.
• Exhibit excellent verbal and written communication skills, including the ability to prepare clear, concise reports and interact professionally with applicants and colleagues.
• Show high levels of organization, time management, and the ability to prioritize multiple tasks in a deadline-driven environment.
• Maintain confidentiality and exercise sound judgment in handling sensitive information.
• Promote teamwork, respect, and a customer-focused approach in all interactions.
• Adapt to changes in the work environment and manage competing demands effectively.

Experience:

• Financial analysis coursework preferred.  
• Experience in a financial environment through college internship, cooperative work or similar programs. 
• Advanced degree or industry specific certification may be substituted for 1 year of experience

Education:

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

Software/Tools Proficiency:

• 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.