Executive Director, NJ Green Bank

Overview:

About the New Jersey Green Bank 

The State of New Jersey leads the nation in clean energy and energy efficiency policy, green building development, clean energy generation, and public investment to fight climate change. The New Jersey Green Bank is a new independent agency (established as a subsidiary of the New Jersey Economic Development Authority in May 2024) with the charter to use public capital to leverage and accelerate private sector investment to reduce greenhouse gas emissions and advance the State’s sustainability and resiliency goals.  
 

The NJ Green Bank’s purpose is to attract private sector funding to advance the State’s goals of advancing clean energy and reducing greenhouse gas emissions. NJ Green Bank financing will enable private capital to fill gaps by reducing real and perceived risk, absorbing transaction costs, and providing private investors the chance to learn about new market opportunities with the security of government partnership. An institutional goal is to accelerate the deployment of low‐carbon technologies by mitigating upfront costs, leveraging private investment, and increasing the catalytic impact of public dollars. The NJ Green Bank is in its start‐up phase and along with this role will be supported via an initial staff, a 5‐member board of directors and the supporting infrastructure via a MOU with the New Jersey Economic Development Authority.  The current initial capital is approximately $200 million. 

Job Summary

The NJ Green Bank seeks its inaugural Executive Director to launch this cutting‐edge, mission‐driven organization. The Board of Directors welcome applications from visionary, experienced, and resourceful leaders ready to roll up their sleeves and build an organization from the ground up that builds out the bold visions of the State. 

Reporting to the Board of Directors, the Executive Director will have overall strategic and operational responsibility for the NJ Green Bank’s staff, programs, expansion, and execution of its mission. In addition, the individual will serve as the public face of the NJ Green Bank with key partners and stakeholders. Importantly, as the inaugural Executive Director, the selected candidate will provide strategic leadership and guide the organization through its critical start‐up phase and initial growth, including managing the recruitment of additional staff, and owning responsibility for the successful deployment of the organization’s first financial offerings and securing additional funding. 

The Ideal Candidate 

Candidates must have significant experience in public and/or private investments financing commercial projects across various technologies. Ideal candidates must have a background in clean energy and/or climate finance, blended finance, and the ability to design and deliver effective financial programs or other offerings. A commitment to engage and partner with relevant stakeholders, especially under‐served communities, is also important in order to successfully deploy and mobilize third‐party capital to catalyze low‐carbon and resilient projects and programs in the State. They will likely have connections within and experience collaborating across the non‐profit, financial, energy, and public sector industries. 

As a leader, the ideal candidate will be an experienced manager with a demonstrated ability to coach staff, and develop and manage high‐performance teams, especially in a start‐up environment. They will have experience setting and achieving strategic objectives with a talented Board and garnering and organizing staff and organizational resources to support those objectives. 

A successful candidate will be able to seamlessly work across the strategic, operational, and administrative aspects of the role. They will be willing to take on additional responsibilities to fill in the needs of the NJ Green Bank, including but not limited to marketing, public relations, communications and fundraising; procurement, hiring, and contracting; training, outreach, and education. 

The NJ Green Bank Executive Director will have the vision, leadership, and genuine commitment to developing a successful public-private start‐up that will dramatically scale investment in clean energy, sustainability, and greenhouse gas reductions in the State. They will demonstrate a genuine personal and professional commitment to tackling climate change issues at a local level for global impact, a commitment to equity, and a drive to bring their full entrepreneurial, creative, and leadership talent to scale the opportunity the NJ Green Bank represents for the State and beyond. 

$159,300 - $194,700

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.

Essential Duties and Responsibilities  

The Chief Executive Officer will administer, manage, and direct the affairs and activities in accordance with the policies, control, and direction of the Board. The CEO will execute the mission and vision of the NJ Green Bank, consistent with its charter.  

• Comply with all legislated oversight requirements, including development of Performance Targets with public input, facilitating the annual public hearing, and overseeing the development, adoption, and execution of the Annual Report, Work Plan, and Budget  
• Work in coordination with, maintain, actively engage, and support a strong and effective Board of Directors 
• Ensure ongoing programmatic excellence, rigorous program evaluation, and consistent quality of finance and administration, fundraising, communications, and systems; propose timelines and procure resources needed to achieve the strategic goals 
• Hire, lead, coach, develop, and retain highly talented NJ Green Bank staff 
• Actively engage with staff and officials, stakeholders, partner organizations, and funders, to build and solidify support for the NJ Green Bank 
• Manage the operations of a start‐up organization 

Financial Management   

• The Executive Director will provide planning, guidance, and support activities to responsibly manage the NJ Green Bank’s investments and establish a pathway for financial sustainability 
• Develop annual and multi‐year budgets to responsibly grow the organization with the goal of long‐term sustainability 
• Under the guidance of the Board, work closely with NJEDA’s Chief Financial Officer to establish financial management and accountability structures 
• Develop and implement a capital development plan that prioritizes raising funds that allow maximum flexibility, aligns with the mission, vision and goals of the organization, and fill the gaps left by initial capitalization 
• Design a strategic business planning process, financial projections and pro forma to inform Board and executive decision‐making about NJ Green Bank financial offerings 
• Develop a risk model for deployment of the Green Bank funds  

Capital Deployment  

• The Executive Director will be responsible for supporting capital deployment by launching projects and programs that align with and support the mission of the NJ Green Bank.  
• In consultation with the Board and input from relevant stakeholders, develop and launch catalytic financial offerings (e.g., lending products, co‐lending with approved lenders, credit enhancements).  
• Develop origination and servicing structures, underwriting requirements, lending terms, rates, and structures for financial offerings.  
• Negotiate lending terms with financial institutions and finalize product terms and structures.  
• Build and grow partnerships with key stakeholders (e.g., contractors, lenders, CDFIs, associations, outreach groups, advisory NGOs) to ensure financial offerings complement the market.  

Outreach and Business Development  

• The Executive Director will be responsible for communication and outreach to key stakeholders, partners, and constituents for the purposes of developing a reputable brand and expanding NJ Green Bank business opportunities.  
• Deepen and refine all aspects of outreach and communications, from web presence to external relations, with the goal of creating a reputable and recognizable brand.  
• Build partnerships in new markets, establishing relationships with mission‐focused foundations, corporations, utility providers and as appropriate, public officials and agencies.  
• Broadly communicate organization results and successes to the Board, funders, public officials, and other stakeholders and partners. .  
• Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers. 
• Must complete annual and semiannual self-assessment as required. 
• Performs other duties and special projects, as assigned. 
• Skills and Abilities 
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff 
• 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 
• Must be able to maintain confidentiality and deal effectively and diplomatically 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.   
• NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred 

Education and Experience  

• Bachelors ’degree but Masters’ preferred with an emphasis in business administration or relevant field  
• 10+ years of job-related experience with a demonstrated track record of effectively leading and scaling a performance‐ and outcomes‐based organization and staff;  
• 5+ years senior management experience a must.  
• Proven leadership, coaching, and stakeholder engagement experience.  

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 

• As necessary to events, meetings, businesses, etc. 

Certificates and Licenses Required 

• License: 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.