Position Title
Special Assets Officer
Location
Troy, MI 48098
Job Summary
The Special Assets Officer manages a portfolio of Classified C&I and commercial real estate/multifamily loans and assists with reporting and litigation matters. Collaborates/works with Special Assets Team Leads and Officers while supporting efforts to preserve principal and prevent charge-offs. Maintains compliance with policy, procedure and lending regulations.
Job Responsibilities:
JOB RESPONSIBILITIES
- Manages a portfolio of loans while coordinating and preparing required documentation for approvals. Updates Loan Workout database for new loan transfers.
- Ensures charge-off documentation matches internal records and review’s mathematical explanation provided by loan officers. Compiles 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.
- Responsible for all aspects of portfolio including back office, loan balances, etc.
- Orders appraisal updates by coordinating borrow financial information and collateral descriptions.
- Interacts with Sr. Management and loan officers to compile charge-off forecast and validates charge-off amounts to be submitted for approval.
ADDITIONAL ACCOUNTABILITIES
- Performs 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 REQUIREMENTS
- Required Qualifications:
- Education level required: Undergraduate Degree (4 years or equivalent) Business Administration, Finance, or related field.
- Minimum experience required: 5+ Years within the Workout/Special Assets field, preferably at an OCC regulated institution.
- Familiarity with various loan databases.
Preferred Qualifications:
- 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 (ADA): No unusual physical exertion is involved.
Flagstar is an Equal Opportunity Employer
We 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. Please click the following link for detailed information: Benefits | Flagstar Bank
Pay Range
$102,717.00 - $158,469.00
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.
