Senior Distressed Assets Manager

Flagstar Bank; Hicksville (NY); On-site; USD 125,000 - 194,000; Full time

Benefits offered by this job

Benefits package

Leave program

Job summary

Flagstar Bank in Hicksville, NY is seeking a Senior Special Assets Officer to manage distressed CRE/ multifamily and C&I loan portfolios, support reporting and litigation, and work with the Special Assets Team to preserve principal and limit charge-offs.

Responsibilities include preparing credit memos, monitoring risk, negotiating workouts, and ensuring compliance with lending standards and regulations.

Qualifications

• 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.

Responsibilities

• Manage a portfolio of classified commercial real estate/multi-family, and/or C&I 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, report changes in risk to management, and implement corrective actions to minimize defaults and impairments.
• Develop, recommend and execute workout strategies to protect the bank’s interest and maximize recovery.
• Lead negotiations with borrowers, guarantors, and third parties to protect the bank’s risk position and maximize recovery.
• Establish borrower performance expectations and monitor loan covenants, reporting requirements, and action plans.
• Prepare formal credit memoranda, risk assessments, and recommendations for senior authorities for approval.
• Review documentation for amendments, restructure proposals and litigation.
• Interact with Sr. Management and loan officers to forecast credit deterioration and losses.

Skills

Real estate knowledge

Financial analysis

Communication skills

Organizational skills

Multitasking

Independent work

Relationship building

Education

Undergraduate Degree

Tools

Word

Excel

Job description

Flagstar Bank in Hicksville, NY is seeking a Senior Special Assets Officer to manage distressed CRE/ multifamily and C&I loan portfolios, support reporting and litigation, and work with the Special Assets Team to preserve principal and limit charge-offs.

Responsibilities include preparing credit memos, monitoring risk, negotiating workouts, and ensuring compliance with lending standards and regulations.