He is a graduate of Rutgers University, St. Peter’s Prep, and Our Lady of Victories Grammar School in Jersey City. At Rutgers, he majored in Accounting and minored in Economics.

Terrence Malloy has worked for the City of Bayonne since 1982. Early in his career, he served as Senior Accountant in the Finance Department before becoming Comptroller. Since the inception of Bayonne’s Urban Enterprise Zone (UEZ) in September 2002, he served as UEZ Coordinator. From 1988 to 2018, he was designated Chief Financial Officer of the City of Bayonne. Mayor Malloy has taken specialized courses at Rutgers University, leading to his designation as a Certified Municipal Finance Officer. After the creation of the Bayonne Municipal Utilities Authority in 1997, Mayor Malloy served as its Acting Executive Director until 1998.

In October 2007, the City Council elected Malloy Mayor of the City of Bayonne to fill the unexpired term of former Mayor Doria until a special election was held in November 2008. He views helping keep Bayonne Hospital (Bayonne Medical Center) open as his most important accomplishment while serving as Mayor.

Malloy is widely known to Bayonne residents from his active involvement in hundreds of City Council meetings and other public events for almost four decades. At countless meetings, he has explained budgets, taxes, policies, and personnel matters to City Council Members, journalists, and the public. He has served in the administrations of Mayors Dennis P. Collins, Richard A. Rutkowski, Leonard P. Kiczek, Joseph V. Doria, Jr., Mark A. Smith, James M. Davis, and Acting Mayor Vincent Lo Re, Jr.

Mayor Davis said, “On behalf of the City of Bayonne, I would like to thank Terrence for his thirty-eight years of outstanding service to our community. Every Mayor and City Council Member since the 1980’s has relied on his wisdom and expertise. He is one of the most knowledgeable people in the state on the subject of municipal finance. It has been a great pleasure to work with him. We wish him many happy years of retirement.”