Overview

Job Summary

The Senior Business Banking Product Officer will serve as support for all department products within the Business Banking department. This role will be responsible for supporting the implementation of financing products and program initiatives as needed and based on market demands. The candidate will be responsible for effective program leadership, administration and support and will work closely with the Business Banking leadership and team to develop and enhance business sales and strategy best practices in an effort to grow the volume of loans for the Authority. Additionally, this role will support department leadership with product development and launch of future new programs that support the economic growth of New Jersey’s micro to mid-size business community.

$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 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.

Responsibilities

Essential Duties and Responsibilities

• Serves as a department subject matter expert for business banking products, processes, and procedures.
• Support the administration of the following programs: loan participations, loan guarantees, direct financing, loans and grants to lenders and other funding programs within the department.
• Supports the Business Banking team in the marketing and promotion of lending products and resources according to the department outreach plan, with an emphasis on outbound. Inbound, and web-based lead generation.
• Ability to work across various departments within EDA to establish an effective process related to program administration and application processing to ensure applications are processed according to EDA standards.
• Ensures that all inquiry and lead information is inputted into CRM in a timely manner.
• Assess client needs to ascertain product eligibility and address inquiries from the public regarding available resources, making referrals as necessary.
• Source small business lending opportunities and submit complete and comprehensive loan files to business bankers for review and submission to the approval division.
• Collaborate with business bankers and the underwriting department to monitor application progress and ensure customer satisfaction throughout the approval and closing process.
• Process high volume, detailed applications for small businesses, Community Development Financial Institutions, Minority Depository Institutions, Economic Development Corporations, and other financial institutions.
• Train and supervise a team of temporary staff in processing high-volume loan applications, ensuring both service levels and compliance standards are upheld.
• Proactively ensure outreach and direct support to applicants is maintained to provide customer service of the highest quality.
• Support in implementing and administering products, ensuring compliance for both new and existing programs to include application reviews, organizing CRM records, and offering support to potential applicants.
• Contribute to research on new program development, enforcement of best practices related to processing, monitor performance measurements for programs, reporting, compliance, and provide analytic support to the Program Manager as needed on department initiatives and success.
• Collaborates with marketing and communications teams to assure website is accurate, product and product materials are accurately marketed, success stories are shared, and product outcomes are reported.
• Consistently drives product enhancement and refinement for ease of use and effective deployment and make recommendations to support process and product improvements.
• Support the Program Manager in establishing operational processes to ensure compliance on programs is proactive and current on all programs, working across EDA departments as necessary.
• Works with the Business Banking team to manage relationships with key industry stakeholders; these efforts may include representing the Authority at industry events and meetings.
• Performs duties on a timely basis to the highest standards of ethics and professionalism.
• Assist with organizing meetings for leadership when
• Collect and review reporting from CDFIs and MDIs on a quarterly and as needed basis.
• Proactively gather and provide input to leadership on ideas or market gaps related to products and how they can better serve the market.
• Knowledge and ability to function with and within municipal, state, and federal programs and to participate on various interagency teams on behalf of the EDA when needed. Input client information into CRM and updates system on a continual basis, consistent with Division’s business rules.
• Promotes teamwork and communication to encourage an 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 Skills and Abilities

• Must be proficient in managing competing priorities while also being able to excel at meeting individual performance goals and objectives.
• Must have experience in administering multiple high-volume products at the same time with attention to detail and with minimal supervision.
• Strong analytical skills and ability to create reports that effectively communicate program results to leadership.
• Ability to multi-task between selling products and administering or overseeing the administration of a product.
• 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 initiate new concepts and follow through on current projects with minimal supervision.
• Exceptional history of strong performance and consistent high-quality delivery on commitments.
• A high level of proficiency in sound lending and underwriting principles and industry standards
• Demonstrates a leadership and ownership mindset with a commitment to collaborative problem-solving.
• Ability to diagnose areas for process and programmatic improvement, suggest solutions, and effectively convey proposed solutions to senior staff.
• Demonstrated ability to self-motivate and self-lead own work planning and execution with a strong results orientation.
• Ability to communicate professionally with diverse stakeholders.
• Customer focused with the ability to proactively seek applicants.
• Passion for NJEDA’s mission to assist all business owner statewide.
• Can easily adapt to changes in work environment and manage competing demands.
• Must have exceptional written, oral, interpersonal and presentation skills.
• Must have the ability to effectively interface with a broad range of audiences including government officials, business, and industry partners, as well as individual customers or applicants.
• Ability to effectively adhere to detailed standard operation procedures and program administration guidelines with minimal 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.
• Exceptional relationship management skills
• Demonstrated ability to support the department in maintaining a strong pipeline of activity to ensure that a steady stream of applications is received.
• Ability to assess complex income, balance sheet, cash flow statements and personal net worth statements, tax returns and be able to calculate debt services.
• Must possess strong negotiating, presentation/public speaking, and business writing skills.
• 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.
• NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred.

Qualifications

Required Qualifications

Education and Experience Requirements

• Bachelor’s Degree in Finance or Business Administration or in relevant field and/or equivalent professional experience.
• Seven years of experience in customer-facing selling role of a financial product or service, program administration and/or program development and implementation roles
• Experience in working with credit reports, loan underwriters, reviewing documents related to a loan, financial reports, and ability to perform various analysis like debt service coverage ratios.
• Experience in a fast-paced, high pressure, project-based professional services environment that emphasizes teamwork, problem solving, and effective communication.
• Must be experience in Excel and Microsoft Dynamics

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

Physical Demands

• Attendance at meetings outside of normal work hours
• Ability to work outside 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.

Equal Opportunity Employer

NJ SAME Program

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 NJEDA Ethics Guidelines.
  • Those guidelines to can be found here:
    • https://www.nj.gov/ethics/docs/ethics/plainlanguage2021.pdf
    • https://www.nj.gov/ethics/docs/ethics/2022_uniformcode_april.pdf

#LI-KH1