Economic Development Finance Specialist

Economic Development Finance Specialist

Join our team at East River Electric Power Cooperative! Are you passionate about rural economic development, finance, and building strong relationships? If so, we'd love for you to join our business and economic development team as an Economic Development Finance Specialist! In this role, you'll work closely with our member systems, bank partners, and borrowers as you evaluate and manage loan requests for the Rural Electric Economic Development (REED) Fund. You'll support compliance and accounting activities for REED Fund loans-like assisting with regulatory and policy compliance, processing loan documentation, monitoring loan performance, and putting together reports on borrowers and fund information. Your attention to detail and dedication to accuracy will ensure our financial records and reporting stay on track and that the REED Fund is always operating according to the highest standards.

At East River Electric Power Cooperative we're dedicated to providing reliable and affordable wholesale power to our members across 40,000 square miles of service area. As a not-for-profit generation and transmission cooperative, we provide electricity to 24 rural electric distribution cooperatives and one municipally owned electric system serving eastern South Dakota and western Minnesota. Our members, in turn, power the lives of the member-owners in their service territories.

Our Cooperative Community

As a cooperative, we do things differently! The decisions we make are made with our members in mind. We've built our foundation on Touchstone Energy's four cooperative values: integrity, accountability, innovation, and commitment to community. These values represent the cooperative difference, which is why we value things like community outreach, teamwork, and work-life balance. The unique cooperative business model is designed to provide both growth and stability. This is just a little insight into why our members trust us to provide safe, reliable, and affordable power and service every day.

This incredible job opportunity awaits you at our main campus in Madison, South Dakota. Madison offers a warm and welcoming small-town atmosphere combined with modern amenities that make it the perfect place for you and your family. Take advantage of great resources like the state-of-the-art Madison Regional Hospital, experience the innovative campus of Dakota State University, enjoy a thriving community center, and more. With two stunning lakes nearby, recreational opportunities are abundant, and you'll be just a short drive away from many of eastern South Dakota's most popular attractions.

What You'll Accomplish

As a valued member of our team, you'll have the opportunity to make a difference every day. Your education, skills, and experience will be put to excellent use, contributing to our mission of delivering exceptional wholesale power to our members. You'll work alongside passionate professionals who embody the cooperative values of integrity, accountability, innovation, and commitment to community. We believe in investing in your growth and development, which is why we offer paid training and development opportunities to enhance your skills and advance your career. In this position you will:

• Represent the REED Fund and our lending policies and practices in each market with professionalism and integrity.
• Work directly with our bank partners to negotiate REED Fund loans, guiding them from origination and structuring all the way through to development and ongoing management.
• Dive into risk ratings for both new and existing loans, help out with compliance and accounting tasks, and pull together reports that track important borrower information.
• Coordinate and manage legal and closing documents, making sure security interests are perfected for loans that get the green light.
• Support our member systems with technical know-how, promote economic development initiatives, and visit borrowers onsite.
• Keep borrower financial and legal information confidential, making sure we're always in line with government regulations.
• Prepare annual risk rating reports and financial reports for audits.

Showcase Your Knowledge, Abilities, and Expertise. Do you have?

• A bachelor's degree in business, finance, or related field; or four (4) years of directly related finance experience in lieu of degree
• At least three (3) years of hands-on accounting, bookkeeping, or lending experience
• Excellent verbal and written communication skills to build strong, positive relationships
• Attention to detail and strong problem-solving skills
• Demonstrated proficiency with Microsoft Excel and other computer software
• A valid driver's license

Benefits that Matter

At East River, we value your well-being and want you to thrive. That's why we provide a comprehensive benefits package that includes:

• Retirement pension plan and contribution to a 401(k) savings plan
• Medical insurance with employer contribution to a Health Savings Account (HSA)
• Paid training and development opportunities
• Access to a wellness program and financial planning resources
• Generous paid time off, including vacation, sick leave, and holidays
• 9/80 work schedule, which gives you every other Friday off to encourage a work-life balance

Want to learn more about East River? Visit our website's career pages and hear what our current employees have to say.

Questions? Contact hr@eastriver.coop or (605) 256-4536.

Applications accepted through April 26, 2026, with interviews expected to begin during the week of May 4.

This institution is an equal opportunity provider and employer.

All positions are subject to a post-offer, pre-employment background check and drug screen. Some positions may be subject to a job-based physical exam. 

Salary : $66,000 - $78,500