Commercial Real Estate Workout Officer (Remote)

About the role

Santander is seeking a senior Commercial Real Estate Workout Officer to lead the resolution of distressed, rent‑regulated multifamily assets in New York City. This remote position focuses on managing complex loan workouts, restructuring strategies, and maximizing recovery for a portfolio of high‑visibility CRE loans.

Key responsibilities

• Manage a portfolio of mid‑complexity distressed CRE loans, primarily rent‑regulated multifamily properties in NYC.
• Evaluate collateral performance, borrower financials, and guarantor support to identify risks and recommend workout strategies.
• Develop and execute resolution plans, including loan modifications, forbearances, restructurings, and other remedies.
• Monitor borrower compliance, property performance, and loan covenant adherence.
• Review, interpret, and negotiate commercial loan documentation such as notes, mortgages, guarantees, and intercreditor agreements.
• Partner with internal and external counsel to ensure documentation accuracy and regulatory compliance.
• Conduct comprehensive underwriting, financial modeling, collateral valuations, and risk assessments for rent‑regulated assets.
• Prepare and present detailed credit memoranda and action plans to senior management and credit committees.

Required profile

• Senior‑level professional with extensive experience in CRE workout and restructuring.
• Deep knowledge of NYC rent‑regulation dynamics, judicial foreclosure processes, and multifamily asset nuances.
• Proven track record of managing large distressed loan portfolios and negotiating complex restructurings.
• Strong analytical mindset with the ability to assess financial statements, rent rolls, and operating performance.
• Excellent communication skills for interfacing with borrowers, legal counsel, and internal stakeholders.

Required skills

• Financial modeling
• Underwriting of commercial real estate assets
• Loan documentation analysis and negotiation