TOPEKA — The helmet has hardly changed for Joe Otting. He’s been donning a gold helmet for the past several years. When he wears it on Monday, it will be for the biggest game of his career.

New York Community Bancorp has agreed to pay its new Chief Executive Joseph Otting $1.25 million and a bonus off up to $4.5 million a year, as he takes the helm of the struggling lender ...