Senior Associate, Commercial Workout Officer

About the role

Santander is seeking a senior Commercial Workout professional to manage a portfolio of distressed commercial real estate loans secured by rent‑regulated multifamily properties in New York City. This remote position requires deep expertise in CRE restructurings, NYC rent‑regulation, and judicial foreclosure processes.

Key responsibilities

• Manage distressed CRE loan portfolio, monitor collateral performance, borrower condition, and covenant compliance.
• Develop and execute loan resolution strategies such as modifications, restructurings, forbearances, and workout solutions.
• Perform underwriting, financial modeling, collateral valuation, and risk analysis to support credit recommendations.
• Lead negotiations with borrowers, sponsors, legal counsel, and other stakeholders to achieve effective workout outcomes.
• Oversee judicial foreclosure proceedings and manage REO assets post‑foreclosure.

Required profile

• 9+ years of experience in commercial real estate workouts, special servicing, or credit risk management.
• Deep knowledge of NYC rent‑regulated multifamily housing, loan documentation, and judicial foreclosure processes.
• Strong analytical, negotiation, and communication abilities.
• Bachelor’s degree in Finance, Real Estate, Accounting or related field (Master’s preferred).

Required skills

• Expert‑level Excel
• Proficiency with Microsoft Word
• Proficiency with Microsoft PowerPoint

What we offer

• Base salary range $93,750 – $170,000 USD per year
• Competitive benefits package supporting health, family, and well‑being