Senior Special Assets Officer: CRE Workout & Recovery

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

Job summary

Flagstar Bank in Hicksville, NY seeks a Senior Special Assets Officer to manage a distressed CRE/multi-family and C&I loan portfolio. You will lead credit analysis, risk reporting and negotiations to maximize recovery while preserving principal and complying with regulations.

You will collaborate with the Special Assets team, prepare memos, assess collateral, monitor covenants and forecast credit costs, contributing to strategic recovery efforts in a fast-paced environment.

Qualifications

• Undergraduate degree in business, finance or related field.
• 6+ years in Workout/Special Assets or equivalent experience.
• Familiarity with loan databases and credit systems.

Responsibilities

• Manage a portfolio of classified CRE/ multifamily and C&I loans end-to-end.
• Prepare credit approval memos with detailed financial analysis.
• Identify emerging 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; ensure compliance.
• Prepare credit memoranda and risk assessments for senior authorities.
• Review amendments, restructures and litigation documentation.
• Collaborate with senior management to forecast losses and recoveries.
• Perform quarterly reserve analyses and credit cost forecasting.

Skills

Credit analysis

Real estate

Excel proficiency

Communication

Relationship management

Attention to detail

Education

Undergraduate Degree

Tools

Loan databases

Word & Excel

Job description

Flagstar Bank in Hicksville, NY seeks a Senior Special Assets Officer to manage a distressed CRE/multi-family and C&I loan portfolio. You will lead credit analysis, risk reporting and negotiations to maximize recovery while preserving principal and complying with regulations.

You will collaborate with the Special Assets team, prepare memos, assess collateral, monitor covenants and forecast credit costs, contributing to strategic recovery efforts in a fast-paced environment.