Responsible for leading the underwriting staff in the analysis, approval and closing of loans, guarantees and conduit and state backed bonds. Ensure that requests for assistance meet program requirements, comply with policies, and the financial risk of recommended approvals are within EDA policy. Also responsible for overseeing the administration of the Department of Environmental Protection HDSRF & PUST programs.
$73,909 - $92,387
Essential Duties and Responsibilities
- Responsible for the management of the loan and bond programs for the Underwriting Department. Reviews loan and bond program policies and procedures and provides comments/suggestions to Managing Director for improvement.
- Acts as the Department’s representative on all cross-divisional efforts regarding loan and bond programs.
- Reviews both credit analysis and public policy; ensures projects are completed for timely submission in board agendas or for approval under delegated authority.
- Supervises loan and bond staff. Provides guidance and feedback, reviews staff work for accuracy and compliance with program requirements.
- Assists the Managing Director in overseeing the Department’s due diligence and processing of applications for financial assistance for presentation at monthly Committee meetings and Board meetings.
- Provides guidance to staff on current projects. Gives input on loan structure, analysis required and credit and policy issues; monitors the team loan and bond pipeline to ensure projects are efficiently moving through the underwriting process.
- Reviews programs/procedures utilized by Department staff to process applications under loan and bond programs.
- Manages team workflow to ensure an accurate review of projects that meet the needs of applicants as well as the goals of the Authority. Makes recommendations to Managing Director regarding potential changes to enhance programs or processes.
- Administers all projects according to guidelines, regulations, laws, etc. in a timely manner. Ensures that Public Notice is posted and TEFRA hearings take place, as appropriate.
- Manages the tracking of annual bond cap allocation and carry forward allocations.
- Manages a team responsible for the review and approval of DEP HDSRF & PUST loan and grant requests.
- Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among department, EDA staff and external customers.
- Builds, develops, mentors and coaches direct reports to develop skills and behaviors to enhance performance. Sets staff goals and objectives, reviews staff semi-annually and annually against individual plans. Develops and implements training and succession plans for the team.
- Ensures department practices and processes are in compliance with EDA policies and guidelines and are consistently applied.
- Performs other duties or special projects, as assigned.
Required Skills and Abilities
- Must possess high level analytical, credit analysis, and problem-solving skills
- Ability to assess customer needs and manage expectations and demonstrate strong relationship skills when dealing with customers
- Thorough understanding of IRS Code regulations as relates to Private Activity Bonds and program guidelines and policies
- Knowledge and understanding of bond documents including letter of credit, trust indenture, arbitrage rebate certificates, public offering statements, disclosure statements, TEFRA requirements, resolutions
- Demonstrates a thorough knowledge and understanding of EDA programs and services
- Demonstrated knowledge of financing in economic and community development
- Actively supports and aligns work with EDA’s current strategic imperatives
- Provides sound financial stewardship of the organization’s assets and controls expenses whenever possible
- Energetic, flexible, collaborative and proactive; a leader who can positively and productively impact both strategic and tactical initiatives
- Exceptional written, oral, interpersonal and presentation skills and the ability to effectively interface with a broad range of audiences including, senior management, EDA Board of Directors, staff, government officials, business and industry partners as well as individual customers and prospects
- Adapts to changes in the work environment and manages competing demands
- Under the direction of the Managing Director, initiates procedures, guidelines and programs; prioritizes and develops realistic action plans
- Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
- 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 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.
- Proficiency in Microsoft Office Suite and the ability to learn new software packages
Education and Experience Requirements
- Bachelor’s Degree with emphasis in business, accounting, finance or economics and/or equivalent professional experience
- A minimum of seven years’ experience in commercial lending/credit analysis, economic development, investment banking or finance
Advanced degree or industry specific certification may be substituted for 1 year of experience
- Ability to work outside normal business hours, as needed
- As necessary to events, meetings, businesses, etc.
Certificates and Licenses Required