Bond Compliance Associate

Overview

EDA Overview

• Join the NJEDA and help lead New Jersey to sustainable economic growth, fosteringequitableopportunities 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

• Processes, monitors, and tracks bond-relatedpost closing matters

• Handlescompliance efforts and inquiries on closed taxable and tax-exempt bonds toidentifyand control reputational and financial risk.

• Ideal candidates willpossessexcellent analytical and organizational skills,ability to learn, understand, and interpret bonds and NJ Statutory and EDA regulatory guidelines.

$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.

Daily Tasks and Responsibilities:

• Responds to inquiries/notices from bondholders, trustees, borrowers, insurers, creditenhancersand others in connection with closed bonds,assists with OPRA requests,locatesand provides requested documents to OPRA officer. Creates monitoring and compliance exception records in CRM, independently manages follow up and works with bond counsel, trustee, and/or borrower towards resolution.

• Handles tax-exempt bond compliance efforts including responding to arbitrage rebate questions from conduit bond borrowers, responsible to overseeconsultant contracts and rebate reports needed for State-backed bonds.
  
  Provides invoices, rebate reports and disclosures on State-backed transactions as required. Processes rebate reports from consultants, reviews todeterminemonies due andensurespayment by OPF and submission to the IRS with notice to trustee on respective issues.

• Monitors and tracks annual compliance certificates, tax completion certificates, 8038-CP’s, 1097-BTC’s and other IRSrequireddocuments; uploads and processes all pertinent documents into EDA’s Customer Relationship Management System (CRM).

Projects:

• Reviews tax compliance agreements for large state-backed bonds, coordinating with bond counsel, Treasury and Schools Development Authority, and other stateagenciesas necessary. Helps prepare annual summary reports to the Authority's designated Tax Compliance Officer (i.e., President and COO).Identifies and attends required bond compliance training

• Researchesand updates status of bond borrower in CRM including mortgage discharge requests, redemption requests, and payoff verification at maturity date.

• Supports Bond Compliance Officer and/or Program Manager to ensuretimelyandappropriate responsesto IRS bond audits. Works with borrowers and DAG's office to engage counsel as needed, coordinates and oversees the preparation of responses to IRS information documentation requests, and Tax-Exempt Bond Voluntary Closing Agreement Program (VCAP) filings, monitors negotiations between the borrowers and IRS; once finalized, ensure corrective actions (redemptions, fees/interest payments, etc.)
  
  are made byborrowers as necessary.

Goals and Objectives:

• Responsible formaintainingcomplete and up to date customer/project files, in EDA’s document management systems

• Assists Program Manager/Bond Compliance Officer(s) in the review and update of Bond Policies and Procedures.

• Must be able tomaintainconfidentiality and deal effectively and diplomatically with business professionals and EDA staff

Collaboration and Cross-Divisional Interaction:

• Develops andmaintainsstrong relationships with stakeholders such as the Business Development Team, Underwriters, the Real Estate Division and the AG’s office.

• Promotesteamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDAstaffand external customers.

Reporting Structure:

• Reports to Program Manager of Bond Compliance

• Must complete annual self-assessment as required.

• Performs other duties and special projects, as assigned

Skillsand Qualifications

Technical

Skills:

• Ability to review complex bond documents and NJ statutory and EDA regulatory guidelines

• Ability to learn, understand, and interpret conduit bonds and state-backed bond programs

Soft Skills:

• Ability to prioritizeworkload,must be highly organized, detail-oriented, handle various tasks simultaneously,and work independently within limited time constraints with little or no supervision

• Ability to communicate effectively both verbally and in writing; proficient in grammar,spellingand editing;and foster communications with business professionals and EDA staff

• Demonstrates respectful behavior and promotes teamwork and communication to encourage an interactive, cooperative,…