Loan Workout Officer - Commercial Real Estate

Position Title

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. The role collaborates with Special Assets Team Leads and Analysts to preserve principal and prevent charge‑offs while maintaining compliance with policy, procedure, and lending regulations.

• Manages a portfolio of classified commercial real estate/multi-family 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, report changes in risk to management, and implement corrective actions to minimize defaults, non‑accrual loan status, and migration of impairments.
• Develop, recommend, and execute workout strategies and make necessary judgements to protect the bank’s interest 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 review and approval by senior credit authorities in accordance with delegated lending authorities and Special Assets Group Standards.
• Review documentation for amendments, restructure proposals, and litigation.
• Interact with Sr. Management and loan officers to compile financial forecasts, including credit deterioration and project losses and recoveries.
• Perform quarterly reserve analysis, charge‑off calculations, and credit cost forecasting.
• Perform special projects and additional duties and responsibilities as required.
• Consistently adhere to regulatory and compliance policies and standards linked to the job and complete required compliance trainings.
• Accountable to maintain compliance with applicable federal, state and local laws and regulations.

• Undergraduate Degree (4 years or equivalent) in Business Administration, Finance, or related field.
• Minimum 5+ years of experience within the Workout/Special Assets field, preferably at an OCC regulated institution.
• Familiarity with various loan databases.

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

$ - $

Medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.

Flagstar is an Equal Opportunity Employer. We are committed to providing clear and accurate compensation information in accordance with applicable laws.

EEOC Know Your Rights  Member FDIC/Equal Housing Lender.