Loan Workout Special Assets Officer - Commercial Real Estate

Flagstar Bank•Hicksville, NY

1d•Onsite

About The Position

The Special Assets Officer manages a portfolio of distressed commercial real estate/multifamily loans, and assists with reporting and litigation matters. Collaborates/works with Special Assets Team Leads and Analysts while supporting efforts to preserve principal and prevent charge-offs. Maintains compliance with policy, procedure and lending regulations.

Requirements

Undergraduate Degree (4 years or equivalent) Business Administration, Finance, or related field.
Minimum experience required: 6+ years within the Workout/Special Assets field, preferably at an OCC regulated institution.
Familiarity with various loan databases.
Strong knowledge of and ability to interpret real estate documentation.
Strong knowledge of real estate policies, procedures and related lending laws.
Computer literate with proficiency in Word and Excel.
Excellent verbal and written communication skills.
Excellent organizational skills with ability to multitask.
Detail oriented and ability to prioritize workload in a fast paced environment.
Ability to work independently while also collaborating effectively in a team environment.
Strong financial analysis skills.
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.

Nice To Haves

7+ years of relevant work experience preferred.

Responsibilities

Manage a portfolio of classified commercial real estate/multi-family, end-to-end.
Prepare and compile credit approval memos, including detailed financial analysis, relationship overviews, collateral assessments, and risk evaluations.
Identify emerging credit risks and trends early, timely report changes in risk to management, and implement corrective actions to minimize defaults, non-accrual loan status, and migration of impairments.
Develop, recommend and execute workout strategies and make necessary judgements to protect the bank’s interest and achieve maximum recovery.
Lead and manage negotiations with borrowers, guarantors, and third parties to protect the bank’s risk position and achieve maximum recovery.
Establish clear borrower performance expectations and actively monitor and enforce loan covenants, reporting requirements, and agreed-upon action plans.
Prepare formal credit memoranda, risk assessments, and recommendations for review and approval by senior credit authorities in accordance with delegated lending authorities and Special Assets Group Standards.
Review documentation for amendments, restructure proposals and litigation.
Interact with Sr. Management and loan officers to compile financial forecasts, including credit deterioration and project losses and recoveries.
Perform quarterly reserve analysis, charge-off calculations, and credit cost forecasting.
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.