Loan Workout Officer - Commercial Real Estate

New York, NY 10018

About the role

The Special Assets Officer manages a portfolio of distressed commercial real estate/multifamily loans and assists with reporting and litigation matters. Collaborates 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.

Responsibilities

• Manages a portfolio of classified commercial real estate/multi-family loans 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 as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job and completes required compliance trainings.
• Accountable to maintain compliance with applicable federal, state, and local laws and regulations.

Requirements

• Undergraduate Degree (4 years or equivalent) in Business Administration, Finance, or related field.
• Minimum 5+ years of experience within the Workout/Special Assets field, preferably at an OCC regulated institution.
• Familiarity with various loan databases.

Preferred Qualifications

• 7+ years of relevant work experience.

Pay

$102,717.00 - $158,469.00

Benefits

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Detailed information.