Loan Workout Officer - Commercial Real Estate

Loan Workout Officer – Commercial Real Estate / New York, NY 10018

The Special Assets Officer manages a portfolio of distressed commercial real estate/multifamily loans and assists with reporting and litigation matters, collaborating with Special Assets Team Leads and Analysts to preserve principal and prevent charge‑offs while maintaining compliance with policy, procedure, and lending regulations.

• Manage a portfolio of classified commercial real estate/multi‑family loans end‑to‑end, preparing and compiling credit approval memos with detailed financial analysis, relationship overviews, collateral assessments, and risk evaluations.
• Identify emerging credit risks and trends, report changes to management and implement corrective actions to minimize defaults, non‑accrual loan status, and migration of impairments.
• Develop, recommend and execute workout strategies to protect the bank’s interests 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 senior credit authorities in accordance with delegated lending authorities and Special Assets Group Standards.
• Review documentation for amendments, restructure proposals and litigation; interact with senior management and loan officers to compile financial forecasts, including credit deterioration, project losses, and recoveries.
• Perform quarterly reserve analysis, charge‑off calculations, and credit cost forecasting.
• Perform special projects and additional duties as required, while consistently adhering to regulatory and compliance policies and completing required compliance trainings.

• Undergraduate degree (4 years) in Business Administration, Finance, or related field.
• 5+ years of experience in Workout/Special Assets, preferably at an OCC‑regulated institution.
• Familiarity with loan databases and relevant tools.

• 7+ years of relevant work experience in the field.

Base pay range: $ – $ (actual starting base pay will be determined based on location, experience, and other non‑discriminatory factors).

• Medical, dental, vision, life, and disability insurance.
• Comprehensive leave program.

Flagstar is an Equal Opportunity Employer. For more information:  | Member FDIC/Equal Housing Lender.