Credit Analyst

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.

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.

• 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

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 manager's 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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…