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

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Santander

2mo ago

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

AI generated summary

  • You must have a bachelor's degree, 9+ years in workout/portfolio management, multifamily lending expertise, strong analytical skills, and excellent communication and leadership abilities.
  • You will manage troubled multifamily loans, analyze financials, facilitate loan modifications, ensure compliance, mentor junior staff, and communicate risk management strategies.

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

What is the job title for this position?

The job title is Sr. Associate, Workout (Commercial Real Estate/Multifamily Workout).

What is the location of this job?

The job is remote but based in Boston, United States of America.

What is the main responsibility of the Sr. Associate in this role?

The main responsibility is to manage multifamily commercial real estate loans, proactively resolving problems and minimizing potential losses to the company.

What level of experience is required for this position?

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

What educational background is preferred for candidates?

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

What specific skills are needed for this job?

Candidates should possess advanced knowledge of commercial loan workout best practices, multifamily lending, risk management, and excellent analytical and communication skills.

Is there a mentoring component in this position?

Yes, the Sr. Associate is expected to mentor and coach junior level workout professionals.

What is the salary range for this position?

The salary range is between $90,000 and $165,000 per year.

What types of properties will the incumbent primarily work with?

The incumbent will primarily work with rent stabilized and/or rent controlled housing assets in and around Greater New York City.

Are there any compliance responsibilities associated with this role?

Yes, the role includes ensuring compliance with company policies, legal standards, and regulatory requirements.

Does this position require interaction with senior management?

Yes, the role involves regular interaction with senior management and other levels of the organizational structure.

What tools should applicants be proficient in?

Applicants should have advanced skills in Microsoft Office applications, including Excel, Word, PowerPoint, Outlook, and SharePoint.

Is diversity valued in the workplace for this job?

Yes, the company actively encourages diversity and values the differences in its workforce.

What are the working conditions for this position?

The working conditions require minimal physical effort, with occasional moving and lifting equipment for meetings as needed.

Can the job description change after hiring?

Yes, the employer reserves the right to revise the job description and add other duties as necessary.

Are there specific geographical considerations for applicants?

While the job is remote, applicants in various states are encouraged to apply, as indicated in the job description.

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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.

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