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

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Santander

26d ago

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

AI generated summary

  • You need a Bachelor's degree, 9+ years in workout/portfolio management, knowledge of multifamily loans, strong analytical skills, and advanced Microsoft Office proficiency.
  • You will manage complex defaulted multifamily loans, interact with borrowers, analyze financials, resolve issues, ensure compliance, mentor junior staff, and monitor portfolio quality.

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 primary responsibility of the Sr. Associate in the Commercial Real Estate Multifamily Workout?

The primary responsibility is to manage complex accounts of defaulted multifamily commercial real estate loans, facilitate problem resolution, and minimize potential losses for the company.

What level of experience is required for this position?

Candidates must have at least 9+ years of workout and/or portfolio management experience.

What educational qualifications are preferred for this role?

A Master’s Degree in Business Administration, Accounting, Finance, Economics, or an equivalent field is preferred.

Are there specific skills that are essential for this position?

Yes, essential skills include advanced knowledge of commercial loan workout practices, the ability to analyze multifamily financial information, excellent communication abilities, and proficiency in Microsoft Office applications.

What type of properties will the Sr. Associate primarily work with?

The role primarily involves working with rent stabilized and/or rent controlled multifamily housing assets, particularly in and around Greater New York City.

How does this role contribute to risk management within the company?

The Sr. Associate monitors loan portfolios, assesses risk ratings, ensures compliance with regulations, and implements strategies to resolve troubled loans, thereby minimizing potential losses.

Will the Sr. Associate be responsible for mentoring others?

Yes, this position includes mentoring and coaching junior level workout professionals.

Is there a specific focus on compliance and regulatory issues in this role?

Yes, the role involves ensuring adherence to company and legal standards to minimize compliance and regulatory risk.

What is the salary range for this position?

The salary range for the Sr. Associate, Workout position is $90,000 to $165,000 per year.

Will I have the opportunity to interact with senior level management?

Yes, the role requires interactions with senior management and various levels of the organizational structure.

What is the working conditions for this job?

The job involves minimal physical effort with occasional moving and lifting of equipment as needed for meetings.

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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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