Senior Distressed Assets & Workouts Manager

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

Benefits offered by this job

Benefits package (medical, dental, and

Job summary

Flagstar Bank in Hicksville, NY seeks a Special Assets Officer to manage a portfolio of distressed commercial real estate and multifamily loans, and to support reporting, risk assessments, and compliance with lending regulations.

You will collaborate with Special Assets Team Leads and Analysts to preserve principal, prevent charge-offs, and develop workout strategies. Strong financial analysis, negotiation, and communication skills are essential in this role.

Qualifications

• Undergraduate degree in Business Administration, Finance, or related field.
• Minimum 6+ years within Workout/Special Assets, preferably at an OCC-regulated institution.
• 7+ years of relevant work experience preferred.

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 with detailed financial analysis, relationship overviews, collateral assessments, and risk evaluations.
• Identify emerging credit risks and report changes in risk to management; implement corrective actions to minimize defaults and impairments.
• Develop, recommend and execute workout strategies to protect the bank’s interests 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 review by senior credit authorities.
• Review documentation for amendments, restructures and litigation.
• Interact with Sr. Management and loan officers to forecast credit deterioration and losses.
• Perform quarterly reserve analysis, charge-off calculations, and credit cost forecasting.
• Performs special projects and additional duties as required.
• Maintain compliance with applicable laws and internal policies.

Skills

Financial analysis

Credit analysis

Negotiation

Communication skills

Multitasking

Relationship building

Education

Undergraduate degree in Business Administration, Finance, or related field

Tools

Excel

Loan databases

Job description

Flagstar Bank in Hicksville, NY seeks a Special Assets Officer to manage a portfolio of distressed commercial real estate and multifamily loans, and to support reporting, risk assessments, and compliance with lending regulations.

You will collaborate with Special Assets Team Leads and Analysts to preserve principal, prevent charge-offs, and develop workout strategies. Strong financial analysis, negotiation, and communication skills are essential in this role.