Special Assets Officer, VP
Flagstar Bank
full-time
Posted on:
Location Type: Office
Location: Hicksville • New York • United States
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Salary
💰 $136,000 - $158,000 per year
Job Level
About the role
- 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 reviews 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 borrower 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.
- Performs special projects, and additional duties and responsibilities as required.
Requirements
- High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent, required
- Minimum experience required: 5+ Years within the Workout/Special Assets field, preferably at an OCC regulated institution.
- Familiarity with various loan databases.
- Education level: Undergraduate Degree (4 years or equivalent) Business Administration, Finance, or related field preferred.
- 7+ years of relevant work experience preferred.
- 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.
Benefits
- medical
- dental
- vision
- life insurance
- disability insurance
- comprehensive leave program
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
financial analysismathematical calculationsloan documentationcharge-off processingportfolio managementreconciliationreal estate documentation interpretationreal estate policies and procedureslending laws
Soft Skills
verbal communicationwritten communicationorganizational skillsmultitaskingdetail orientedprioritizationindependence
Certifications
High School DiplomaUndergraduate Degree in Business Administration or Finance