Position Title
CRE/Commercial Restructuring Counsel Sr
Location
New York/1400 Broadway/114025
Job Summary
Pay Range: 117-193K
The Senior Counsel CRE/Commercial Restructuring is a senior member of the Legal Department and will be primarily responsible for providing legal support to the Special Assets Group of Flagstar Bank (the “Bank”). This attorney will partner closely with internal business units and work with other members of the Legal Department. As the senior restructuring attorney, this attorney will be the primary resource for the business units regarding review and management of legal matters relating to restructuring and workout of commercial real estate (“CRE”) and commercial lending transactions.
Pay Range: Local Minimum Wage - $0.00 - $0.00
Job Responsibilities:
- Serves as a liaison between business unit management on all workout matters, including with respect to foreclosures, bankruptcy filings, secondary market sales, collateral review and overall management of related strategy, restructuring documentation and legal issues.
- Provides timely and effective legal counseling regarding negotiations and documentation, including communicating with and managing outside counsel engaged to represent the Bank.
- Independently review and draft transactional and other documentation relevant to CRE and commercial lending, including term sheets, loan agreements, intercreditor and subordination agreements, purchase and sale agreements, engagement letters, marketing materials and offering documents, default notices, demand letters, reservation of rights letters, forbearance agreements, pre-negotiation agreements and non-disclosure agreements.
- Provide ad hoc legal support to senior members of commercial lending business lines, including Commercial Real Estate Lending and Commercial, Corporate and Private Banking.
- Review and develop policies and procedures relating to the business lines above.
- Participate in firmwide projects requiring input from the Legal Department.
- Engage and actively manage outside counsel with a view to reducing legal spend and mitigating potential conflicts while providing “best in class” legal support for the business.
- Manage, train and coach junior attorneys and paralegals who support the business lines above.
- Periodically train the business and others in the Legal Department with respect to workout and restructuring matters.
- Use independent judgment and discretion to make decisions and become a thought leader in the Legal Department.
- Critically analyze and resolve legal problems pertaining to CRE and commercial lending business units and the Bank’s challenges and strategic initiatives generally.
- Brings direct experience working in-house at a financial institution and/or at a large law firm providing finance and restructuring legal support to financial institutions in the CRE and/or commercial lending space.
- Is multi-faceted with a solid understanding of the terms, documentation and restructuring of CRE and commercial loans, including experience with pre-litigation counseling relating to such transactions.
- Is familiar with current market practices and trends, applicable banking regulations, securities laws and events in the large banking sector that impact workout and recovery of distressed CRE and commercial finance loans.
ADDITIONAL ACCOUNTABILITIES
- Perform special projects, and additional duties and responsibilities as required.
- Consistently adhere 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.
Required Qualifications:
- Juris Doctorate from an accredited law school.
- Minimum experience required: 5+ Years at a reputable law firm in the commercial lending, CRE, restructuring and bankruptcy space or relevant experience in-house at a bank or other financial institution.
Job Competencies:
- Familiarity with legal and regulatory requirements for financial institutions, including relevant federal and state banking laws
- Strong financial and business acumen and knowledge of financial markets
- Excellent interpersonal skills and ability to communicate effectively with senior management and other stakeholders throughout the Bank
- Analytical, detail-oriented and demonstrates excellent written communication skills
- Responds to requests quickly, commercially and thoughtfully
- Demonstrates intellectual curiosity and a willingness to ask thought-provoking questions and provide a different point of view
- Demonstrates exemplary leadership, respect for colleagues above and below, and collaborative approach to solving problems; puts clients, firm and team first
- Disciplined adherence to teamwork and principles of diversity, equity and inclusion
- Focuses on being a trusted advisor to the business and delivering high-quality work product; streamlines processes and actively seeks ways to reduce legal spend
- Physical demands (ADA): No unusual physical exertion is involved.
What We Do
Thank you for visiting Flagstar Bank on LinkedIn, and we look forward to being part of your financial journey. On December 1, 2022, New York Community Bank (NYCB) and Flagstar Bank joined together to become one company. Today, New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The company is headquartered in Hicksville, New York. At June 30, 2024, the company had assets of $119.1 billion. We operate over 400 branches across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and on the West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. We believe in cultivating a diverse, inclusive, and respectful workplace that engages employees, broadens perspectives, and encourages teamwork. We hire people who represent the talents, experiences, backgrounds, and diversity of the communities we serve. Together our goal is to deliver a new energy in banking to our customers, opening new doors for financial and personal success. Customers will have access to a broad spectrum of technology, products and services—all with a shared customer-first approach. Relationships are at the center of all that we do, enhanced by our commitment to delivering local market expertise, personalized solutions, and a long-standing focus on strengthening our communities. Follow us on LinkedIn to stay up to date on news and updates, new hires, community initiatives, access to our collective insights, and banking industry updates that you need to know.
