Overview
Job Summary
Assists in ensuring the integrity of data in EDA’s loan management system. Assists in verifying correct loan/guarantee/grant transaction and valuation information is captured and tracked, billed accurately, and all payments are correctly posted. Performs QA/QC reviews on all loan system reports for accuracy and completeness.
$58,080 - $72,600
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
- Provides payment servicing of all EDA financings, including:
- Assists in generating monthly invoices, checks for accuracy, makes necessary adjustments and ensures timely delivery to borrowers (electronic or hard copy/mail)
- Sets up direct debit instructions, if applicable, and processes batch payments timely
- Applies payments in the loan system per the terms of the respective financing documents, makes required adjustments, and provides daily tie-out of transaction activity
- Processes modifications consistent with revised agreements and ensures participation banks apply payments consistent with revised terms
- Follows up with participating banks regarding discrepancies in payment details
- Serves as point-of-contact for customer related invoice inquiries
- Participates in posting of loan/grant disbursements and payments to ensure data integrity with source documentation and reporting from Accounting. Consults with participation banks and borrowers to investigate and resolve discrepancies; reapplies payments as necessary.
- Generates, reviews and verifies all projects and financial reports to ensure data integrity each month-end and year-end. QA/QC work includes an initial review and preparation of a checklist before forwarding to Senior Loan Servicing Analyst for final review.
- Tracks and handles customer, bank, and staff inquiries and reported discrepancies.
- Promotes teamwork and communication to encourage an interactive, cooperative, collaborative, and customer focused work environment among division, EDA staff, and external customers.
- Must complete annual and semiannual self-assessment as required.
- Performs other duties and special projects, as assigned.
Preferred Skills and Abilities
- Understanding of internal control principles, consistent with an accounting environment.
- Knowledge of financial banking terminology associated with commercial loan set up procedures.
- Understanding of financial reports, disbursement and payments for commercial loans/grants.
- Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff, to solicit financial information.
- 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.
- Must be able to maintain confidentiality and deal effectively and diplomatically with business professional 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 as well as loan management database skills, and the ability to learn new software packages.
Qualifications
Preferred Qualifications
Education and Experience Requirements
- Bachelor’s Degree in Accounting, Finance or Business Administration and/or equivalent professional experience
- 2-5 years work experience in a commercial financial/banking environment, concentrated in loan processing activities
- Experience in database transaction processing preferred
Advanced degree or industry specific certification may be substituted for 1 year of experience
Physical Demands
- Minimal
- 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 valid 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 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
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