Product Officer- Innovation Economy Programs
Job Summary
The Economic Growth Division’s mission is to accelerate the growth of New Jersey’s economy by implementing initiatives that enhance the State’s long-term economic competitiveness and establish New Jersey as an innovation leader within high job growth strategic sectors, including life sciences and technology, transportation and logistics, clean energy, offshore wind, financial services and advanced manufacturing. The Innovation Programs department delivers unique programs to create and sustain job growth in businesses within these key sectors. Departments delivering products are focused on effective execution combined with a positive market impact.
A Product Officer serves as the subject matter and industry leading expert on a specific Innovation Program vertical. In addition, the Program Officer maintains a general working knowledge of other NJEDA Programs and Departments in order to support, promote, and manage NJEDA’s offerings effectively to manage external and internal relationships.
As the expert for their specific program, this job is responsible for activities such as program development, management, and administration. They also participate in business development and relationship management activities. They work directly with the entrepreneurial and investor community in a strategic role to grow the value and volume of investment activity in the State through providing information and access to their program as well as other capital resources within the EDA, State and country, having the ultimate goal of creating economic growth for innovative businesses in the state of New Jersey. Additionally, this role must work effectively with other internal NJEDA departments to assure effective management through the full product life cycle process from application submission through review and approval then closing followed by portfolio management to final termination.
Responsibilities
Essential Duties and Responsibilities
- Works closely with potential applicants to determine program eligibility and develops a deal flow pipeline of opportunities.
- Leads the qualification process to ensure submitted applications contain accurate company data and full documentation required for the due diligence process in accordance with Standard Operating Procedures.
- Oversees applications through product life-cycle from application submission through review and approval then closing followed by portfolio management to final termination within the NJEDA which includes interaction with multiple other NJEDA departments like Sector Development, Operations, Closing Services, Portfolio Services, Accounting, etc. to assures effective program implementation.
- Maintains program statistics, marketing materials, operational documents, and compliance related items to assure all remain current and accurate.
- Supports design and development of policy, products and processes for assigned programs.
- Leads, conducts, participates in outreach to establish and maintain relationships with partners in targeted niche. This includes institutional and strategic investors in the investment community, service providers such as accountants and attorneys, academic institutions, etc.
- Facilitates introductions and key linkages to other New Jersey corporations, investors and key market players to help support the growth of the business in New Jersey including introductions for both prospects and portfolio customers.
- Represents the NJEDA/Economic Growth/Innovation Programs department at networking events including speaking engagements and panel participation.
- Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.
- Serve as the program subject matter expert promoting the programs with internal parties including, but not limited to marketing and communications, accounting, information technology and external parties including investors, entrepreneurs, service providers, and other State agencies. Assists EDA’s Legislative Officer with OPRA requests.
- Performs other duties and special projects, as assigned.
- Must complete annual and semiannual self-assessment.
Qualifications
Required Skills and Abilities
- Demonstrates a leadership and ownership mindset within the Innovation Programs department supporting the Director and other 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 to assist science and technology companies in New Jersey.
- 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.
- Proficiency in Microsoft Office Suite, a working knowledge of databases and the ability to learn new software packages.
- 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.
Required Qualifications
Education and Experience Requirements
- Bachelor’s Degree required, preferably with emphasis in finance and/or equivalent professional experience.
- Minimum seven years of experience one of the following areas:
- lending or equity funding
- financial product business development
- portfolio or relationship management
- product development or management
- Experience with technology entrepreneurial development
- Familiarity within niche area of technology and life sciences industry preferred
- Familiarity with venture and angel investing as equity sources
Advanced degree or industry specific certification may be substituted for 1 year of experience
Physical Demands
- Minimal
- Ability to work outside normal business hours, as needed
Travel
- Travel required throughout the State of NJ, sometimes out of state
- Occasional attendance at events outside of normal working hours
Certificates and Licenses Required
- Valid driver’s license
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.
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.