Senior CRE Workout Officer - Remote

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About the position

Senior CRE Workout Officer - Remote Country: United States of America Your Journey Starts Here: Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success. An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You! Senior Workout Officer - Must have Commercial Real Estate Workout experience.

Responsibilities

  • Manage a portfolio of mid- to high-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 strategies.
  • Develop and execute resolution plans including loan modifications, forbearances, restructurings, the pursuit of various remedies.
  • Monitor ongoing borrower compliance, property performance, and loan covenant adherence.
  • Review, interpret, and negotiate commercial loan documents , including notes, mortgages, guarantees, 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, regulatory compliance, operating statements, capital needs, and market dynamics.
  • 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 negotiations with institutional borrowers, sponsors, investors, 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, valuation, and disposition.
  • Collaborate with internal Real Estate and Asset Management teams to optimize recovery and minimize holding costs.
  • 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 strong understanding of credit policy and ensure all recommendations and actions are appropriately supported and documented.
  • Evaluates credit scenarios with sound judgment and risk awareness.
  • Demonstrates thorough understanding of banking regulations and internal governance standards.
  • Effectively negotiates with institutional counterparties to achieve optimal outcomes.
  • Drives timely and accurate resolution of distressed assets within established frameworks.
  • Works effectively across Credit, Legal, Compliance, and Real Estate teams to support portfolio performance.

Requirements

  • bachelor's degree in finance, Real Estate, Accounting, or related field required; MBA or relevant graduate degree preferred.
  • Minimum 9+ years of experience in commercial real estate workouts, 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 with institutional clients and structure loan modifications or settlements.
  • Direct experience with judicial foreclosures, receiverships, and REO management .
  • Understanding of NYC rent regulation and multifamily market dynamics.
  • Strong analytical, financial modeling, and valuation skills.
  • Excellent written and verbal communication, negotiation, and presentation skills.
  • Ability to interpret and apply internal policies, regulatory standards, and legal documentation.
  • Proficiency with Microsoft Excel, Word, PowerPoint, and loan servicing or risk management systems.

Nice-to-haves

  • Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.
  • Experience in Microsoft Office products.

Benefits

  • Santander Benefits - 2025 Santander OnGoing/NH eGuide (foleon.com)
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