Workout Associate - Remote

About the role

The Workout Associate will manage a portfolio of low‑ to mid‑complexity non‑performing commercial real‑estate loans, primarily rent‑regulated multifamily properties in New York City. Working remotely, you will protect the bank’s interests while delivering pragmatic, regulatory‑compliant solutions for borrowers.

Key responsibilities

• Manage distressed multi‑family loan portfolios, analyzing collateral, borrower financials, guarantor strength, and market dynamics.
• Implement and monitor workout plans, including modifications, forbearance agreements, and foreclosure proceedings.
• Review, interpret, and negotiate commercial loan documents such as notes, mortgages, guarantees, and intercreditor agreements.
• Coordinate with internal and external legal counsel to ensure compliance with Santander standards and regulations.
• Evaluate rent‑regulated property performance, prepare credit memoranda, and present risk assessments to management.
• Lead negotiations with borrowers, institutional sponsors, investors, and legal representatives.
• Maintain communication with Credit, Legal, Appraisal, and Compliance teams.
• Ensure all activities adhere to internal policies, regulatory standards, and applicable laws; produce periodic portfolio and risk reports.

Required profile

• Bachelor’s degree in Finance, Real Estate, Accounting, or a related field (MBA or advanced degree preferred).
• 5+ years of experience in commercial real‑estate workouts, special assets, or loan restructuring.
• Strong knowledge of commercial loan documentation, underwriting, and credit risk analysis.
• Demonstrated negotiation and relationship‑management abilities.
• Familiarity with rent‑regulated multifamily properties and related regulatory frameworks.

Required skills

What we offer

• Opportunity to work within a global financial leader undergoing a technology‑driven transformation.
• Professional growth in a dynamic, customer‑centric environment.