Sr. Associate, Workout (Commercial Real Estate/Multifamily Workout) REMOTE

Santander

2mo ago

Job
Full-time
Expert Level
Real Estate & Property
Banking & Finance
Denver

AI generated summary

You must have a bachelor's degree, 9+ years of workout/portfolio management experience, advanced knowledge of commercial loan workouts, multifamily lending, and strong analytical skills.
You will manage complex defaulted multifamily loans, analyze financials, resolve troubled accounts, mentor junior staff, and ensure compliance with policies while minimizing potential losses.

Requirements

Bachelor's Degree or equivalent work experience: Business, Accounting, Finance, Economics or equivalent field. Required.
Master's Degree in Business Administration, Accounting, Finance, Economics or equivalent field. Preferred.
9+ Years Workout and/or portfolio management experience. Required.
Advanced knowledge of Commercial Loan Workout best practices, identification, resolution and implementation.
Knowledge of multifamily lending, underwriting, loan documentation, and asset management and ability to implement such knowledge into proposed thoughtful loan restructures and assemblage of loan credit files.
Knowledge of New York City multifamily loans and, ideally, rent controlled and/or rent stabilized buildings and portfolios.
Ability to provide accurate and timely reporting and analyses on the assigned portfolio for investors and as part of quarterly portfolio review.
Ability to read, analyze and interpret commercial real estate multifamily financial information, loan files and legal documents.
Ability to work cross-functionally as a team player.
Excellent interpersonal, supervisory, and customer service skills required.
Excellent written and verbal communication skills.
Excellent critical thinking skills with the ability to be adept in identifying and resolving complex risk management problems.
Ability to build and foster internal relationships.
Ability to lead, influence and direct peers, subordinates and management.
Ability to interact with senior level management, experience interfacing with multiple levels of the organizational structure.
Advanced Microsoft Office (Excel, Word, PowerPoint, Outlook, SharePoint) skills.
Self-directed, self-motivated and demonstrated experience providing ideas and solutions to further business understanding.

Responsibilities

Manages accounts of medium and advanced complexity including defaulted multifamily commercial real estate loans and borrower relationships, the majority of which are rent stabilized and/or rent controlled housing assets in/around Greater New York City, in accordance with risk management objectives and corporate budgets.
Facilitates the resolution of problem multifamily loans through interacting with multifamily borrowers, designing and implementing loan modifications to improve credit quality or chances of repayment, in a cost-effective manner. Interacts with institutional sponsors.
Reviews adequacy of assigned risk ratings, commercial loan accounting determinations, and provide support for risk rating upgrade and downgrade recommendations.
Collects financial information, communicates with existing multifamily borrowers and credit administration to ensure loans are reviewed and managed in a proper and timely manner. Ability to analyze income and expense statements, balance sheets, guarantor financial statements and build pro formas for collateral properties at various points of loan cycle.
Performs analysis of credit submittals regarding transactions and/or financial strengths to ascertain if borrowers qualify for financing restructures and recommend solutions to resolve loans.
Ability to analyze third party commercial real estate reports such as appraisals, environmental reports, property condition reports.
Facilitates the resolution of problems loans, proactively minimizing potential losses to the Company.
Proactively manages troubled loan relationships with ability to lead discussions with sophisticated sponsors, counsel, junior staff and third-party associates.
Monitors portfolios and quality assurance in compliance with corporate policy.
Ensures compliance with training, statutes, valuation and environmental policy.
Oversees the candidates loan portfolio to ensure consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
Analyzes severely delinquent and charged off accounts to identify possible problems, trends, and issues for feedback to credit and management.
Processes charged-off financings including litigation, asset discovery and fraud investigations.
Mentors and coaches work of junior level workout professionals.
Communicates recommendations and credit risk management processes to management that strengthens the organization and enhances overall supervision of lending methods and provides tools to continually measure effectiveness.

FAQs

Is this position fully remote?

Yes, this position is designated as remote.

What is the required educational background for this role?

A Bachelor's Degree in Business, Accounting, Finance, Economics, or a related field is required; a Master's Degree is preferred.

How many years of experience are required for this position?

A minimum of 9 years of workout and/or portfolio management experience is required.

What types of properties will the Sr. Associate work with?

The role specifically deals with multifamily commercial real estate loans, particularly focusing on rent stabilized and/or rent controlled housing assets in and around Greater New York City.

What skills are essential for this position?

Essential skills include advanced knowledge of commercial loan workout best practices, knowledge of multifamily lending, excellent analytical skills, and strong interpersonal and communication skills.

Will there be opportunities for professional development?

Yes, the role includes mentoring and coaching junior level workout professionals, providing opportunities for professional development.

What is the salary range for this position?

The salary range for this position is $90,000 - $165,000 per year.

Is experience with New York City multifamily loans necessary?

Yes, knowledge of New York City multifamily loans, particularly in relation to rent controlled and/or rent stabilized buildings, is beneficial for this role.

How does the company prioritize diversity and inclusion?

The company values and respects differences in the workforce and actively encourages all qualified applicants to apply regardless of their background.

What are some of the essential functions of this role?

Essential functions include managing advanced complexity accounts, facilitating loan resolutions, analyzing financial documents, and ensuring compliance with policies and regulations.

Santander

Here to help you prosper

Finance

Industry

10,001+

Employees

1857

Founded Year

Mission & Purpose

Santander is a leading global bank, founded in 1857 and headquartered in Spain, and is one of the largest banks in the world by market capitalisation. It provides a wide range of financial products and services, including personal and corporate banking, wealth management, and insurance. With a strong presence in Europe, Latin America, North America, and Asia, Santander's mission is to help people and businesses prosper by offering customer-centric solutions. Its purpose is to support growth and innovation while fostering responsible banking practices to benefit individuals, businesses, and communities.