Senior Servicing Officer
3 weeks ago
As a Senior Servicing Officer at NJEDA, you will independently manage credit risk and customer relationships for an assigned portfolio of loans, guarantees, and grants. This includes complex, high-profile, or high-risk accounts. You will also mentor and train less experienced staff, handle customer appeals, and perform other duties as assigned.
Key Responsibilities- Independently manage credit risk within an assigned portfolio with little oversight and guidance.
- Monitor loan payment delinquencies and work with customers and bank partners to collect payments as needed.
- Complete Quality Assurance reviews of new project loan files.
- Maintain complete and up-to-date customer/project files in EDA's document management systems.
- Ensure all required borrower financial statements are collected and credit analyses reviews are performed per department policies.
- Promptly identify deteriorating credits and assign appropriate ratings.
- Manage call options and loan maturity renewals promptly.
- Handle loan modification requests, including loan maturity renewals, which involves obtaining needed information, negotiating terms of approval, and preparing approval memoranda in accordance with delegated authority or board approval policies.
- Ensure loan documentation is amended accurately and promptly.
- Present loan approval requests to management and Director's Loan Committee.
- Attend EDA Board Meetings to address questions regarding modifications requiring Board action.
- Mentor and train less experienced staff.
- Handle complex special projects.
- Handle customer appeals to objectively and independently evaluate loan declinations or similar actions that are being contested by applicants.
- Bachelor's Degree in Business, Economics, Accounting, or Finance and/or equivalent professional experience.
- Seven+ years of financial or banking experience, including commercial credit training, lending, loan review, or similar experience.
- Advanced degree or industry-specific certification may be substituted for 1 year of experience.
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.
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