Senior Associate, Commercial Workout Officer

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🔥 0 minutes ago

🗽 New York – Remote

🗽 New York – Remote

💵 $93.8k - $170k / year

⏰ Full Time

🟠 Senior

🦅 H1B Visa Sponsor

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Santander

WebsiteLinkedInAll Job Openings

10,000+ employees

Founded 1857

🛡️ Insurance

💼 Consulting

📦 Logistics

💰 Post-IPO Equity on 2013-05

Insurance • Consulting • Logistics

Santander is a global retail banking group with a significant presence in Europe and the Americas. The company provides a range of financial services including consumer banking, asset management, private banking, and corporate and investment banking. Santander is committed to responsible banking, promoting diversity, equity, and inclusion, and supporting the green transition. With numerous customers worldwide, the bank focuses on financial inclusion and education as part of its corporate responsibility. Santander is listed on various stock exchanges and is involved in sponsorships like Formula 1, underscoring its brand presence and strategic partnerships.

📋 Description

• Manage a portfolio of distressed commercial real estate loans • Monitor collateral performance, borrower financial condition, guarantor support, and covenant compliance • Evaluate property operations, rent rolls, financial statements, market conditions, and capital needs • Develop and execute loan resolution strategies, including modifications, restructurings, forbearances, and other workout solutions • Perform underwriting, financial modeling, collateral valuation, and risk analysis • Prepare credit memoranda, action plans, and presentations for management and credit committee approval • Review, interpret, and negotiate commercial loan documentation • Partner with internal and external legal counsel on documentation accuracy and regulatory compliance • Identify legal, structural, and collateral-related issues affecting loan recovery or enforceability • Lead or support negotiations with borrowers, sponsors, investors, legal representatives, and other stakeholders • Oversee judicial foreclosure proceedings • Manage REO assets following foreclosure, including stabilization, valuation, asset management, and disposition • Maintain effective communication with borrowers, internal management, and partners throughout the workout lifecycle

🎯 Requirements

• Bachelor’s Degree in Finance, Real Estate, Accounting, or a related field — Required • 9+ years of experience in commercial real estate workouts, including special servicing/special assets, or credit risk management within a regulated financial institution • Experience in commercial real estate lending, credit underwriting, loan workouts, restructuring, asset management, special assets, or related areas • Deep understanding of commercial loan documentation, mezzanine financing, and related intercreditor agreements • Extensive experience analyzing property financial statements • Strong analytical, negotiation, communication, and relationship management skills • Ability to prepare and present credit recommendations and workout strategies to senior stakeholders • Proficiency with Word, PowerPoint, and loan servicing or risk management systems • Expert-level Excel • Applicants must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to commence employment • Preferred: Master’s Degree in Finance, Real Estate, Accounting, or a related field • Preferred: Expertise in commercial real estate loan workouts in CMBS Special Servicing or special assets at a regulated financial institution • Preferred: Knowledge of rent-regulated multifamily housing in New York City • Preferred: Extensive experience managing judicial foreclosures, Chapter 11 bankruptcies, related 363 sales, and REO assets • Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education

🏖️ Benefits

• Fair and competitive rewards package • Benefits designed to support employees, their families, and well-being • Inclusive and accessible application process • Reasonable accommodations for individuals with disabilities