Santander
Financial Services
CommercialRealEstateWorkoutOfficer
“Commercial Real Estate Workout Officer at Santander. Skills: Commercial Real Estate Workouts, NYC Multifamily Assets, Distressed Loans, Rent-Regulated Properties, Judicial Foreclosure, Loan Modifications, Restructurings, REO Management. Manage a portfolio of mid complexity distressed commercial real estate loans, focusing on rent-regulated multifamily assets in NYC. Evaluate collateral performance, borrower financials, and guarantor support to identify risks and recommend appropriate workout str”
What You'll Achieve.
Maximize recovery in regulated multifamily environments; Achieve balanced, risk-mitigated outcomes
Industry & Context.
Credit & Risk Acumen – Evaluates credit scenarios with sound judgment and risk awareness; Analytical skills
Minimal physical effort such as sitting, standing and walking, Occasional moving and lifting light equipment and/or furniture may be required
What They're Looking For.
Must Have
Bachelor’s degree in Finance, Real Estate, Accounting, or related field, Minimum 5 + years of experience in commercial real estate workouts, including large portfolios, special assets, or credit risk management within a regulated financial institution, Proven experience reviewing and negotiating commercial loan documentation and complex legal structures, Background in underwriting and managing rent-regulated multifamily properties in New York City, Demonstrated ability to negotiate or shadow negotiations with institutional clients and structure loan modifications or settlements, Direct experience with judicial foreclosures, receiverships, and REO management
Nice to Have
Understanding of NYC rent regulation and multifamily market dynamics
What You'll Do.
Manage a portfolio of mid complexity distressed commercial real estate loans
focusing on rent-regulated multifamily assets in NYC
Evaluate collateral performance
and guarantor support to identify risks and recommend appropriate workout strategies
Develop and execute resolution plans including loan modifications
the pursuit of various remedies
Monitor ongoing borrower compliance
property performance and improvements
and loan covenant adherence
and negotiate commercial loan documents
intercreditor agreements
and forbearance or modification agreements
Partner with internal and external counsel to ensure documentation accuracy and adherence to internal credit and regulatory standards
Identify legal and structural issues that could impact collateral recovery or enforceability
Conduct comprehensive underwriting of rent-regulated multifamily properties
including evaluation of rent rolls
Perform financial modeling
collateral valuations
and risk assessments to support loan resolution recommendations
Prepare and present detailed credit memoranda and action plans to management and credit committees
Lead or shadow negotiations with institutional borrowers
and legal representatives to achieve balanced
risk-mitigated outcomes
Maintain initiative-taking and professional communication with borrowers and internal stakeholders throughout the workout process
Oversee and manage judicial foreclosure processes
coordinating with counsel to ensure compliance with state laws and procedural requirements
Manage Real Estate Owned (REO) assets post-foreclosure
including stabilization
Ensure all actions comply with internal policies
risk management frameworks
and regulatory requirements
Maintain thorough loan files
workout documentation
and regulatory reporting consistent with audit and examination standards
Demonstrate a understanding of credit policy and ensure all recommendations and actions are appropriately supported and documented
How You'll Work.
Team & Collaboration
Partner with internal and external counsel; Works effectively across Credit, Legal, Compliance and third party vendors to support portfolio performance
Communication Scope
Excellent written and verbal communication; Presentation skills
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