Senior Special Assets Manager

2 weeks ago

Hicksville, New York, United States Flagstar Bank Full time

JOB SUMMARY

The Senior Special Assets Manager oversees a portfolio of classified commercial and industrial (C&I) loans, as well as commercial real estate and multifamily loans. This role is crucial in assisting with reporting and litigation processes. The manager collaborates closely with the Special Assets Team Leads and Officers to safeguard principal amounts and mitigate charge-offs, while ensuring adherence to all relevant policies, procedures, and lending regulations.

JOB RESPONSIBILITIES

  • Oversees a diverse portfolio of loans, coordinating and preparing necessary documentation for approvals. Responsible for updating the Loan Workout database to reflect new loan transfers.
  • Ensures that charge-off documentation aligns with internal records and reviews the mathematical justifications provided by loan officers. Prepares a summary report of all charge-off forms for approval and, once approved, distributes the necessary documentation for processing individual loan charge-offs.
  • Gathers information for loan approval memorandums, including financial analyses, relationship summaries, and collateral assessments.
  • Confirms that recovery funds are accurately posted to the appropriate general ledger accounts and manages the reconciliation of legal expenses related to participation loans.
  • Handles all aspects of the portfolio, including back-office operations and loan balances.
  • Requests appraisal updates by coordinating borrower financial information and descriptions of collateral.
  • Engages with senior management and loan officers to compile charge-off forecasts and validates charge-off amounts for submission and approval.

ADDITIONAL ACCOUNTABILITIES

  • Undertakes special projects and additional responsibilities as needed.
  • Maintains strict adherence to regulatory and compliance policies and standards associated with the role, completing all required compliance training. Responsible for ensuring compliance with applicable federal, state, and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

  • Education: Bachelor’s Degree (4 years or equivalent) in Business Administration, Finance, or a related field.
  • Experience: A minimum of 5 years in the Workout/Special Assets sector, preferably within an OCC-regulated institution.
  • Familiarity with various loan management databases.

Preferred Qualifications:

  • 7 or more years of relevant work experience is preferred.

Job Competencies:

  • In-depth knowledge of real estate documentation and the ability to interpret it effectively.
  • Strong understanding of real estate policies, procedures, and related lending laws.
  • Proficient in computer applications, particularly Word and Excel.
  • Exceptional verbal and written communication skills.
  • Outstanding organizational abilities with a capacity to manage multiple tasks simultaneously.
  • Detail-oriented with the ability to prioritize workload effectively.
  • Ability to work independently and perform mathematical calculations accurately.
  • Physical demands (ADA): The role does not involve unusual physical exertion.

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