Intern - Loan Servicing & Compliance

Overview

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

• Provides credit, compliance, and administrative support to the Loan Servicing & Compliance Team.
• Contributes to NJEDA's mission by supporting financial operations, ensuring compliance, and facilitating effective loan servicing processes.
• The ideal candidate should possess strong organizational skills, attention to detail, and a basic understanding of accounting principles to excel in this role.

Responsibilities

Duties  

Daily Tasks and Responsibilities:

• Enter financial data into Moody’s, prepare financial spreads, and generate trend and ratio analysis reports.
• CRM maintenance, not limited to generating letters to request financial statements, track and save received financial statements.
• Complete annual compliance review of the NOL portfolio
• Complete the real estate tax lien searches on the collateral in the Authority’s loan portfolio
• Collect and review compliance on other grant and forgivable loan products.

Projects:

• Assist in annual compliance reviews, real estate tax lien searches, and other departmental projects.

Goals and Objectives:

• Ensure accuracy and timeliness in tracking and reviewing documents.

      Collaboration and Cross-Divisional Interaction:

• Work collaboratively with Servicing Officers, Compliance Officers, and other NJEDA staff to promote a customer-focused work environment.

Reporting Structure:

• Reports to the Sr. Director, Loan Servicing & Compliance, with a high level of independence in routine tasks.
• Performs other duties and special projects, as assigned.

Qualifications

Skills and Qualifications

Technical Skills:

• Basic understanding of accounting principles and credit analysis.

Soft Skills:

• Effective communication and teamwork skills.

Certifications:

• Valid driver’s license

Experience:

• Experience in a bank credit or lending department preferred

Education:

• High school graduate; some college preferred.

Software/Tools Proficiency:

• Proficiency in Microsoft Office Suite (Excel, Outlook, Word) and ability to learn new software packages like Moody’s and CRM.
• 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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