Loan Associate

Commercial Loan Operations Workout AssociateLocation: Hicksville, NY 11801The Commercial Loan Operations Workout Associate is responsible for supporting the processing and servicing of problem loans by entering data, performing reconciliations, and coordinating with the special assets team.Job Responsibilities:Support the servicing and administration of distressed, defaulted, or non-performing commercial loansCoordinate with Special Assets, Credit Risk, and Legal teams to ensure accurate and timely system updates for workout loansProcess modifications, forbearance agreements, extensions, restructures, and other non-standard loan actions in the servicing systemReview and interpret workout or legal documentation to ensure proper loan setup and compliance with termsTrack and monitor key loan milestones such as maturity dates, covenant breaches, and forbearance expirationsGenerate and distribute reporting on delinquent loans, watchlist status, charge-offs, and recoveriesMaintain accurate and organized loan records and documentation related to problem loan resolutionsAssist with collateral monitoring, foreclosure actions, and asset disposition tracking where applicableEnsure proper application of payments, accruals, and system coding for defaulted or impaired loansCollaborate with internal departments to support timely and accurate loan resolution effortsAdditional ResponsibilitiesPerforms special projects, and additional duties and responsibilities as required.Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.Job RequirementsRequired Qualifications:Education level required: HS Diploma, GED or Foreign EquivalentMinimum experience required: 2+ Years experience in a large commercial bank or related financial institution.Preferred Qualifications:Education level preferred: Undergraduate Degree (4 years or equivalent) (Business, Finance, Accounting, or related field)Basic understanding of Commercial Loan Servicing. Including knowledge of CRE, C&I, construction, or SBA loan products and familiarity with core loan servicing systems (e.g. ACBS, AFSVision, nCino, etc.)Ability to review and interpret loan documents and translate terms into accurate system entries.Job Competencies:Basic understanding of loan documentation and servicing systemsProficient in Microsoft Excel and Word.Excellent organizational, analytical, and communication skills.Strong interpersonal and communication skills, with a team-first mindset.Flagstar is an Equal Opportunity EmployerWe are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.Pay Range: $22.83 - $36.27