New Jersey Economic Development Authority (NJEDA) · 1 week ago
Bond Compliance Associate
New Jersey, United States
Full-time
Hybrid
Entry, Mid Level
$62K/yr - $65K/yr
2+ years expThe New Jersey Economic Development Authority (NJEDA) is dedicated to fostering sustainable economic growth and equitable opportunities in New Jersey. The Bond Compliance Associate will process and monitor bond-related matters, handle compliance inquiries, and ensure adherence to regulatory guidelines while supporting the Bond Compliance Officer and Program Manager.
Financial ServicesSecurityWeb Hosting
No H1B
Responsibilities
Responds to inquiries/notices from bondholders, trustees, borrowers, insurers, credit enhancers and others in connection with closed bonds, assists with OPRA requests, locates and 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 oversee consultant 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 to determine monies due and ensures payment 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 IRS required documents; uploads and processes all pertinent documents into EDA’s Customer Relationship Management System (CRM)
Reviews tax compliance agreements for large state-backed bonds, coordinating with bond counsel, Treasury and Schools Development Authority, and other state agencies as 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
Researches and 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 ensure timely and appropriate responses to 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 by borrowers as necessary
Responsible for maintaining complete 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 to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
Develops and maintains strong relationships with stakeholders such as the Business Development Team, Underwriters, the Real Estate Division and the AG’s office
Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers
Reports to Program Manager of Bond Compliance
Must complete annual self-assessment as required
Performs other duties and special projects, as assigned
Qualification
Required
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
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
Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications 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
Two to five years job-related work experience
Advanced degree or industry specific certification may be substituted for 1 year of experience
Experience with legal documents a plus
Bachelor's Degree in business, Accounting, or related field and/or equivalent professional experience
Proficient in Excel
NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred
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
Must comply with the 'New Jersey First Act' which requires employees hired after September 1, 2011, to reside in New Jersey
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
Benefits
Health insurance
Retirement plans
Extensive wellness programs
Company
New Jersey Economic Development Authority (NJEDA)
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$1M2018-07-01Seed· $1M
Leadership Team
Evan Weiss
Chief Executive Officer
Frederick J. Cole
Senior Vice President - Business Support
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