Commercial Loan Operations Workout Associate Sr
Flagstar Bank, Hicksville, NY, United States
Position Title
Commercial Loan Operations Workout Associate Sr
Location Hicksville, NY 11801
Job Summary The Commercial Loan Operations Senior Workout Servicing Associate is responsible for supporting the processing and servicing of problem loans by entering data, performing reconciliations, and coordinating with the special assets team.
Pay Range Pay Range: $26.93 - $41.30 - $44.01
Job Responsibilities
Manage complex servicing activities related to distressed, defaulted, or restructured commercial loans
Act as a primary operations liaison to the Special Assets, Credit, and Legal teams on workout loan structures and recovery strategies
Interpret legal and restructuring documentation (e.g., forbearance agreements, foreclosure orders, settlements) and ensure accurate implementation in the servicing system
Review and authorize complex loan modifications, restructures, and extensions in accordance with internal controls and regulatory standards
Oversee the accurate application of payments, charge-offs, non-accrual status, and interest reversals
Monitor high-risk loan activity, portfolio trends, and resolution progress, escalating concerns to management as needed
Develop and maintain reporting packages on non-performing loan portfolios, including watchlist metrics, recovery efforts, and liquidation status
Train and mentor junior workout associates, providing guidance on complex workout scenarios and system procedures
Assist in the development and refinement of policies, procedures, and control documentation related to workout servicing
Participate in audits, internal reviews, and regulatory exams as a subject matter expert on distressed loan operations
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
High School Diploma, GED or Foreign Equivalent
4+ Years experience in a large commercial bank or related financial institution.
Preferred Qualifications
Education level preferred: College, Vocational or Associates Degree (2 years or equivalent) (Business, Finance, Accounting, or related field)
Job Competencies
Strong understanding of complex loan structures (e.g., forbearance, liquidation)
Ability to interpret legal documentation and translate into system actions
Proficient 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 Employer
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Location Hicksville, NY 11801
Job Summary The Commercial Loan Operations Senior Workout Servicing Associate is responsible for supporting the processing and servicing of problem loans by entering data, performing reconciliations, and coordinating with the special assets team.
Pay Range Pay Range: $26.93 - $41.30 - $44.01
Job Responsibilities
Manage complex servicing activities related to distressed, defaulted, or restructured commercial loans
Act as a primary operations liaison to the Special Assets, Credit, and Legal teams on workout loan structures and recovery strategies
Interpret legal and restructuring documentation (e.g., forbearance agreements, foreclosure orders, settlements) and ensure accurate implementation in the servicing system
Review and authorize complex loan modifications, restructures, and extensions in accordance with internal controls and regulatory standards
Oversee the accurate application of payments, charge-offs, non-accrual status, and interest reversals
Monitor high-risk loan activity, portfolio trends, and resolution progress, escalating concerns to management as needed
Develop and maintain reporting packages on non-performing loan portfolios, including watchlist metrics, recovery efforts, and liquidation status
Train and mentor junior workout associates, providing guidance on complex workout scenarios and system procedures
Assist in the development and refinement of policies, procedures, and control documentation related to workout servicing
Participate in audits, internal reviews, and regulatory exams as a subject matter expert on distressed loan operations
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
High School Diploma, GED or Foreign Equivalent
4+ Years experience in a large commercial bank or related financial institution.
Preferred Qualifications
Education level preferred: College, Vocational or Associates Degree (2 years or equivalent) (Business, Finance, Accounting, or related field)
Job Competencies
Strong understanding of complex loan structures (e.g., forbearance, liquidation)
Ability to interpret legal documentation and translate into system actions
Proficient 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 Employer
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