Managing Director - Business Banking

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

· The Managing Director (MD) Business Banking is a key leadership role within the Authority responsible for driving growth in business banking. This role will oversee a portfolio of programs.

· This role contributes to the development of NJEDA’s strategic goals and objectives as well as the overall management of the organization, requiring expertise in economic, business banking, and small business services.

· This leadership role requires outstanding communication skills to engage effectively with senior leaders within the organization, the NJEDA Board, government officials, and industry partners. The ideal candidate should have proven expertise in economic development financing and incentives, alongside strong mentoring and management skills to lead a team with diverse expertise.

$140,400 - $149,175

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

Daily Tasks and Responsibilities:

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• Directly manage a team of directors who develop and execute strategies to achieve the Authority’s goals focusing on strengthening the business banking portfolio, expanding small business services, and supporting place-based initiatives.
• Oversee a range of small, medium, and large-scale development projects ensuring deadlines and crucial benchmarks are met.
• Accountable for the success of the small and midsize business banking programs.
• Manage the development of decision memos and board materials requiring approval from the Board and CEO.
• Manage the relationships with CDFI entities.

Projects:

• Lead the strategic direction and implementation of all small business and community development programs; this includes developing, coordinating, and managing initiatives that support the state's strategic economic growth.
• Oversee the Business Banking Team and provide existing financial tools for businesses.

Goals and Objectives:

• Achieve targeted growth in business banking and small to midsize business services.
• Successfully develop and launch new banking and small to midsize business products and services tailored to the needs of the market.
• Builds, develops, mentors and coaches direct and indirect reports to develop skills and behaviors to enhance performance. Sets staff goals and objectives, reviews staff semi-annually and annually against individual plans. Develop and implement training and succession plans for the team.

Collaboration and Cross-Divisional Interaction:

• Promote a culture of high performance, collaborative cross-functional teams, and continuous improvement that values learning and a commitment to quality.
• Promote teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.
• This role will have decision-making autonomy for products and services under their direct purview, with guidance from the senior leadership.

Qualifications

Skills, Experience and Qualifications

• Minimum 10 years of experience with economic development, business, or banking and finance. Minimum of 5 years of supervisory experience required
• Proven knowledge of EDA programs and services, banking, and SBA lending products, underwriting principles and financing and incentives.
• Deep understanding of state business registration and reporting requirements and how they affect program design and administration.
• Experience working with financing tools that support economic, urban/community development and small business
• Master’s or bachelor’s Degree in business administration with emphasis in accounting, finance, or economics and/or equivalent professional experience.
• Advanced degree or industry specific certification may be substituted for 1 year of experience

Soft Skills:

• Ability to interpret regulations, develop processes, and have a high attention to detail.
• High level analytical skills, excellent judgment, and creative problem-solving skills, negotiation, and conflict resolution skills.
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff

EDA Leadership Profile

• Talent Management: Acquires, develops, and manages high-performing teams.
• Cross-Functional Collaboration: Partners effectively across boundaries and functions.
• Vision-Driven Results: Drives a clear vision and strategic thinking for achieving results.
• Innovation and Change: Encourages new ideas, opportunities for change, and motivates team members.

Certifications:

• N/A

Software/Tools Proficiency:

• 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.
• Must complete annual self-assessment as required.
• Performs other duties and special projects, as assigned.