Commercial Loan Ops Workout Servicing Associate Sr

Flagstar Bank • Hicksville, NY

120d • $35 - $41

About The Position

The Commercial Loan Operations Senior Workout Servicing 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

• College, Vocational or Associates Degree (2 years or equivalent) or equivalent combination of education and experience
• Minimum experience required: 4+ Years experience in a large commercial bank or related financial institution
• Strong understanding of complex loan structures (e.g., forbearance, liquidation)
• Ability to interpret legal documentation and translate into system actions
• Proficient in Microsoft Excel and Word
• Excellent organizational, analytical, and communication skills
• Strong interpersonal and communication skills, with a team-first mindset

Responsibilities

• Manage complex servicing activities related to distressed, defaulted, or restructured commercial loans
• Act as a primary operations liaison to the Special Assets, Credit, and Legal teams on workout loan structures and recovery strategies
• Interpret legal and restructuring documentation (e.g., forbearance agreements, foreclosure orders, settlements) and ensure accurate implementation in the servicing system
• Review and authorize complex loan modifications, restructures, and extensions in accordance with internal controls and regulatory standards
• Oversee the accurate application of payments, charge-offs, non-accrual status, and interest reversals
• Monitor high-risk loan activity, portfolio trends, and resolution progress, escalating concerns to management as needed
• Develop and maintain reporting packages on non-performing loan portfolios, including watchlist metrics, recovery efforts, and liquidation status
• Train and mentor junior workout associates, providing guidance on complex workout scenarios and system procedures
• Assist in the development and refinement of policies, procedures, and control documentation related to workout servicing
• Participate in audits, internal reviews, and regulatory exams as a subject matter expert on distressed loan operations
• Perform special projects, and additional duties and responsibilities as required
• Consistently adhere 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

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• Life insurance
• Disability insurance
• Comprehensive leave program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Associate degree