New Jersey Economic Development Authority
New Jersey Economic Development Authority
Equal Opportunity Employer
Job ID 2022-1758
US-NJ-Trenton | US-NJ-Camden | US-NJ-Newark | US-NJ-Oceanport | US-NJ-North Brunswick
The mission of the NJEDA’s Economic Transformation Division is to accelerate the growth of New Jersey’s economy with initiative implementation that will enhance the State’s long-term economic competitiveness and establish New Jersey as a leader within high growth innovative strategic sectors, including life sciences and technology, transportation and logistics, clean energy, offshore wind, financial services and advanced manufacturing. The Venture Programs department delivers unique programs that will catalyze investment to create and sustain job growth in businesses within each of these key sectors. The team that delivers these products is focused on effective execution combined with a positive market impact.
The Venture Programs Project Officer works as an integral member of the Venture Programs team to catalyze angel, venture capital and corporate investment in New Jersey, ultimately, with a focus to create economic growth for innovative businesses in the State. They serve as a key agent to support the development and management of a sophisticated, $500 million suite of capital and resource investment programs including the New Jersey Innovation Evergreen Fund (NJIEF) and NJ Founders & Funders platforms, EDA’s venture fund program, the Black and Latino Seed Fund, NJ Innovation Fellows startup incubation grant and New Jersey’s Golden Seeds chapter. Intellectually curious, self-starters will have the opportunity to conceive, assemble, approve and drive adoption of novel economic development mechanisms at the intersection of corporate and alternative investment strategy.
Essential Duties and Responsibilities
Support the Director and Senior Product Officers to develop and implement the business processes associated with new investment or innovation ecosystem engagement programs; these efforts may include: conducting quantitative and qualitative analyses; defining, impact metrics, budgets, etc.; acting as a company liaison within EDA to maintain forward progress on build-out associated with accounting, compliance, information technology, legal, marketing, policy, tax, etc.
Support Senior Product Officers with management across venture and engagement programs to expand production capacity and improve processes. Coordinate planning, development and pursue outreach to establish and maintain relationships with potential corporate partners, investors and early-stage businesses; efforts may include representing the Authority at industry events, conducting company research.
Perform monitoring and administration of the existing venture fund portfolio and prospective programs. Responsibilities will include regular update calls with existing fund managers, attendance at annual meetings, review of financial statements, capital call and distribution fulfillment. Assists EDA’s Legislative Officer with OPRA requests.
Perform quarterly and annual fund and equity/warrant holdings valuation analysis which may require interaction with company managements, review of financial statements and independent research using tools such as Crunchbase and Pitchbook. Oversee long-term compliance of angel tax credit venture fund applications.
Works closely with potential applicants to the investment programs determining eligibility. Supports the due diligence process of applicants to the venture fund, NJIEF and Black and Latino Seed Fund programs, along with other newly developed venture programs which may include review of offering materials, RFP and questionnaire responses, legal documentation along with qualitative and quantitative analysis and reference calling. Prepares and presents analysis for senior management.
Develops investment industry expertise for EDA through project-based research and analysis; these efforts may include tracking industry trends at the state, regional, and national level, identifying which key industry issues state government could help to resolve, providing industry and policy updates to internal government stakeholders
Learn and utilize the EDA’s Customer Relationship Management (CRM) database per departmental standards including populating key application data in various CRM records
Reports progress in weekly team meetings
Promotes teamwork and communication to encourage an interactive, cooperative, collaborative, and customer focused work environment among division, EDA staff, and external customers.
Supports the development and achievement of department goals; reviews and evaluates own performance against key metrics
Performs duties on a timely basis to the highest standards of ethics and professionalism
Helps to institutionalize best practices; defines and implements needed systems and policies
Must complete annual and semiannual self-assessment as required.
Performs other duties and special projects, as assigned.
Required Skills and Abilities
Knowledge In Fund Investment Underwriting And Portfolio Analysis Including
Understanding of GAAP, income, balance sheet and cash flow statements
Ability to understand investment documentation from a legal and regulatory perspective
Sound concept of governance and fiduciary responsibility
Demonstrates a leadership and ownership mindset within the Venture Programs team supporting the Director and other Program and Project Officers, and promotion of improvement ideas
Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
Strong relationship management skills
Must possess a solution-oriented mindset, to allow creative thinking in this dynamic asset class
Ability to prioritize workload with effective time management. Must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little or no supervision
Proficiency in Microsoft Office Suite, a working knowledge of databases and the ability to learn new software packages including CRM
Must have a strong focus on financial details and possess analytical curiosity
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
Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
Education and Experience Requirements
Bachelor’s Degree required, preferably with emphasis in finance and/or equivalent professional experience.
Experience with alternative investment or asset management; or project management experience
Experience with technology entrepreneurial development
Familiarity within niche area of venture capital industry preferred
Familiarity with venture and angel investing as equity sources preferred
Advanced degree or industry specific certification may be substituted for 1 year of experience
Ability to work outside normal business hours, as needed
Travel required throughout the State of NJ, sometimes out of state
Occasional attendance at events outside of normal working hours
As necessary to events, meetings, businesses, etc
Certificates and Licenses Required
License: Staff are required to possess a valid 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
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.
Equal Opportunity Employer
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.