CRE Workout & Special Assets Lead

Flagstar Bank; Hicksville (NY); On-site; USD 103,000 - 158,000; Full time

Job summary

Flagstar Bank in New York, NY seeks a Loan Workout Special Assets Officer for Commercial Real Estate. You will manage a distressed CRE/multi-family loan portfolio, prepare memos, analyze finances, and coordinate with the Special Assets team to recover value.

Responsibilities include leading negotiations with borrowers, monitoring loan covenants, and developing strategies to minimize defaults and impairments while ensuring compliance with policies and regulations.

Qualifications

• Undergraduate degree in business, finance, or related field.
• 6+ years in Workout/Special Assets, preferably OCC regulated.
• Familiarity with loan databases.
• Strong financial analysis and risk assessment skills.
• Excellent communication and organizational abilities.

Responsibilities

• End-to-end management of a classified CRE/multi-family loan portfolio.
• Prepare credit memos and perform financial analyses.
• Identify credit risks and report changes to management.
• Develop workout strategies to maximize recovery.
• Lead negotiations with borrowers, guarantors, and third parties.
• Monitor covenants and action plans; enforce reporting requirements.
• Prepare credit memoranda and recommendations for senior approval.
• Review amendments, restructures, and litigation documents.
• Coordinate with senior management on forecasts and losses.
• Perform quarterly reserve analysis and credit cost forecasting.

Skills

Financial analysis

Real estate knowledge

Excel proficiency

Communication skills

Independent worker

Team collaboration

Relationship building

Education

Undergraduate degree in Business/Finance

Tools

Loan databases

Word

Excel

Job description

Flagstar Bank in New York, NY seeks a Loan Workout Special Assets Officer for Commercial Real Estate. You will manage a distressed CRE/multi-family loan portfolio, prepare memos, analyze finances, and coordinate with the Special Assets team to recover value.

Responsibilities include leading negotiations with borrowers, monitoring loan covenants, and developing strategies to minimize defaults and impairments while ensuring compliance with policies and regulations.