Special Assets Officer, VP

Position Title: Special Assets Officer, VP Location: New York, NY 10018 (Hicksville, NY or Midtown NYC) Job Summary The Special Assets Officer manages a portfolio of commercial real estate/multifamily loans and assists with reporting and litigation matters. The role collaborates with Special Assets Team Leads and Officers while supporting efforts to preserve principal and prevent charge‑offs. The officer maintains compliance with policy, procedure and lending regulations and continues to build out a proper Special Assets organizational structure to support volume and adequate management of the loan portfolio. Pay Range: $136,000 - $158,000 Job Responsibilities Manages the portfolio of loans while coordinating and preparing required documentation for approvals. Updates the Loan Workout database for new loan transfers. Ensures charge‑off documentation matches internal records and reviews the mathematical explanation provided by loan officers. Compiles a summary report of all charge‑off forms for approval and, upon approval, distributes appropriate documentation for individual loan charge‑off processing. Compiles information for loan approval memos including financial analysis, relationship summaries and collateral overview. Verifies that recovery funds are posted to correct general ledger accounts while managing reconciliation of legal expense on participation loans. Is responsible for all aspects of the portfolio including back office, loan balances, etc. Orders appraisal updates by coordinating borrower financial information and collateral descriptions. Interacts with senior management and loan officers to compile a charge‑off forecast and validates charge‑off amounts to be submitted for approval. Performs special projects and additional duties as required. Consistently adheres to regulatory and compliance policies and standards linked to the job and completes required compliance trainings. Maintains compliance with applicable federal, state and local laws and regulations. Job Requirements Required Qualifications High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent. Minimum 5+ years within the Workout/Special Assets field, preferably at an OCC regulated institution. Familiarity with various loan databases. Preferred Qualifications Undergraduate degree (4 years or equivalent) in Business Administration, Finance, or related field. 7+ years of relevant work experience preferred. Job Competencies 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. Ability to work independently. Ability to perform mathematical calculations. Physical Demands No unusual physical exertion is involved. Equal Opportunity Employer Flagstar is an Equal Opportunity Employer. We are committed to providing clear and accurate compensation information in accordance with applicable laws. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Benefits Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. EEO_KnowYourRights Member FDIC/Equal Housing Lender #J-18808-Ljbffr Flagstar Bank