Commercial Loan Operations Workout Associate

Flagstar Bank

3d•$23 - $36•Onsite

About The Position

The Commercial Loan Operations Workout Associate is responsible for supporting the processing and servicing of problem loans by entering data, performing reconciliations, and coordinating with the special assets team.

Requirements

HS Diploma, GED or Foreign Equivalent
2+ Years experience in a large commercial bank or related financial institution.
Basic understanding of loan documentation and servicing systems
Proficient in Microsoft Excel and Word.
Excellent organizational, analytical, and communication skills.
Strong interpersonal and communication skills, with a team-first mindset.

Nice To Haves

Undergraduate Degree (4 years or equivalent) (Business, Finance, Accounting, or related field)
Basic understanding of Commercial Loan Servicing. Including knowledge of CRE, C&I, construction, or SBA loan products and familiarity with core loan servicing systems (e.g. ACBS, AFSVision, nCino, etc.)
Ability to review and interpret loan documents and translate terms into accurate system entries.

Responsibilities

Support the servicing and administration of distressed, defaulted, or non-performing commercial loans
Coordinate with Special Assets, Credit Risk, and Legal teams to ensure accurate and timely system updates for workout loans
Process modifications, forbearance agreements, extensions, restructures, and other non-standard loan actions in the servicing system
Review and interpret workout or legal documentation to ensure proper loan setup and compliance with terms
Track and monitor key loan milestones such as maturity dates, covenant breaches, and forbearance expirations
Generate and distribute reporting on delinquent loans, watchlist status, charge-offs, and recoveries
Maintain accurate and organized loan records and documentation related to problem loan resolutions
Assist with collateral monitoring, foreclosure actions, and asset disposition tracking where applicable
Ensure proper application of payments, accruals, and system coding for defaulted or impaired loans
Collaborate with internal departments to support timely and accurate loan resolution efforts
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
Accountable to maintain compliance with applicable federal, state and local laws and regulations.