Commercial Real Estate Underwriter – Associate/Sr Associate

About the role

Santander is seeking an Associate or Senior Associate Commercial Real Estate (CRE) Underwriter to support underwriting and end‑to‑end deal management for CRE transactions across CMBS, direct lending, and warehouse finance. The role works closely with internal stakeholders and senior leaders to deliver thorough analysis and execution materials.

Key responsibilities

• Underwrite CRE transactions across CMBS, direct lending, and warehouse finance, evaluating sponsor, borrower, and collateral strength.
• Manage full deal lifecycle from initial screening through approval and execution, coordinating key workstreams.
• Prepare underwriting deliverables and internal approval materials, documenting risks, mitigants, and recommended terms.
• Review and synthesize diligence materials such as financial statements, rent rolls, operating statements, and third‑party reports.
• Partner with Originations, Credit, Capital Markets, Legal, Operations, and Asset Management to align timelines and information needs.
• Assist senior leaders with transaction analysis, presentation materials, and internal coordination.
• Maintain strong process discipline and documentation standards to ensure consistent underwriting quality.

Required profile

• Experience in real estate underwriting, with familiarity evaluating CRE loans, collateral, and sponsor strength.
• Exposure to CMBS and related CRE financing structures (direct lending or warehouse finance).
• Strong analytical abilities and attention to detail, capable of synthesizing complex information.
• Effective interpersonal skills for collaboration with multiple internal stakeholders.
• Ability to manage multiple transactions simultaneously in a deadline‑driven environment.
• Bachelor’s degree required (Finance, Real Estate, Business, Economics, or related field preferred).
• Relevant FINRA certifications.

Required skills

What we offer

• Opportunity to work for a global financial services leader undergoing a technology‑driven transformation.
• Exposure to a variety of CRE financing products and senior leadership.
• Collaborative, inclusive environment that values diversity and bold thinking.