Special Assets Officer Sr

Flagstar Bank•Hicksville, OH

1d•$125,272 - $193,753

About The Position

The Special Assets Officer Sr manages a portfolio of distressed commercial real estate/multifamily loans and/or C&I loans, and assists with reporting and litigation matters. The role works with Special Assets Team Leads and Analysts to preserve principal and prevent charge-offs while maintaining compliance with bank policies, procedures, and lending regulations. The officer manages loans from end to end, prepares credit approval memoranda and risk assessments, identifies emerging risks, and develops and executes workout strategies to protect the bank’s interests and maximize recovery. The position also leads negotiations, monitors borrower performance and loan covenants, reviews amendment and restructuring documentation, and supports management with forecasts, reserve analysis, charge-off calculations, and credit cost forecasts. The role requires an undergraduate degree in Business Administration, Finance, or a related field, and at least six years of experience in Workout/Special Assets. Seven or more years of relevant experience is preferred. The position is based in Hicksville, New York. Flagstar offers access to medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. The stated pay range is $125,271.75–$193,753.00; actual starting base pay depends on location, experience, and other permitted factors, and total compensation may include incentives, bonuses, commissions, or other awards.

Requirements

Undergraduate degree (four years or equivalent) in Business Administration, Finance, or a related field.
At least 6 years of experience in 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 literacy and proficiency in Word and Excel.
Excellent verbal and written communication skills.
Excellent organizational skills and ability to multitask.
Attention to detail and ability to prioritize workload in a fast-paced environment.
Ability to work independently and collaborate effectively in a team environment.
Strong financial analysis skills.
Ability to build and maintain stakeholder relationships through clear communication, proactive collaboration, and cross-functional insights.
Ability to build trusted internal or external client relationships by identifying needs and delivering tailored solutions.
Ability to support a positive work culture and productive environment through effective relationships with customers and stakeholders.

Nice To Haves

7 or more years of relevant work experience.
Workout/Special Assets experience at an OCC-regulated institution.

Responsibilities

Manage a portfolio of classified commercial real estate/multifamily and/or C&I loans end to end.
Prepare and compile credit approval memoranda with financial analysis, relationship overviews, collateral assessments, and risk evaluations.
Identify emerging credit risks and trends, report changes in risk to management, and implement corrective actions to minimize defaults, non-accrual status, and impairment migration.
Develop, recommend, and execute workout strategies to protect the bank’s interests and achieve maximum recovery.
Lead negotiations with borrowers, guarantors, and third parties to protect the bank’s risk position and achieve maximum recovery.
Set borrower performance expectations and monitor and enforce loan covenants, reporting requirements, and agreed-upon action plans.
Prepare credit memoranda, risk assessments, and recommendations for senior credit authority review and approval in accordance with delegated lending authorities and Special Assets Group standards.
Review documentation for amendments, restructuring proposals, and litigation.
Work with senior management and loan officers to compile financial forecasts, including credit deterioration and projected losses and recoveries.
Perform quarterly reserve analysis, charge-off calculations, and credit cost forecasting.
Perform special projects and additional duties as required.
Adhere to applicable regulatory and compliance policies, standards, laws, and regulations, and complete required compliance training.