Commercial Loan Workout Senior Officer - Multifamily Focus - Remote

Commercial Loan Workout Senior Officer - Multifamily Focus - Remote

Country: United States of America

Commercial Real Estate Multifamily SENIOR WORKOUT OFFICER - (VP, Senior Associate) leverages his or her subject matter expertise for workout situations and activities and facilitates the resolution of problems multifamily real estate loans, proactively minimizing potential losses to the Company. The incumbent manages accounts of medium and advanced complexity and leads special workout projects and/or programs.

Ideal candidate will have:

• Successful history in banking, working out problem loans utilizing advanced knowledge of commercial loan workout best practices, identification, and resolution.
• Knowledge of New York City multifamily lending, underwriting, loan documentation, and asset management.
• Knowledge of New York City multifamily requirements including understanding of rent controlled and/or rent stabilized buildings and portfolios.
• Excellent communication and negotiation skills.

Job Description:

• Monitors activities to minimize the company's exposure to risk.
• Activities may include quantitative analysis, risk identification and remediation.
• Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards.
• Ensures that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.
• Ensures adherence to the standards, policies and procedures established by the company.
• Monitors and manages risk/exposure and compliance with the company's policies.

Essential Functions:

• Manages accounts of medium and advanced complexity including defaulted multifamily commercial real estate loans and borrower relationships, the majority of which are rent stabilized and/or rent controlled housing assets in/around Greater New York City, in accordance with risk management objectives and corporate budgets. 
• Facilitates the resolution of problem multifamily loans through interacting with multifamily borrowers, designing and implementing loan modifications to improve credit quality or chances of repayment, in a cost-effective manner. Interacts with institutional sponsors. 
• Reviews adequacy of assigned risk ratings, commercial loan accounting determinations, and provide support for risk rating upgrade and downgrade recommendations.
• Collects financial information, communicates with existing multifamily borrowers s and credit administration to ensure loans are reviewed and managed in a proper and timely manner.
• Ability to analyze income and expense statements, balance sheets, guarantor financial statements and build pro forma for collateral properties at various points of loan cycle. 
• Performs analysis of credit submittals regarding transactions and / or financial strengths to ascertain if borrowers qualify for financing restructures and recommend solutions to resolve loans.
• Ability to analyze third party commercial real estate reports such as appraisals, environmental reports, property condition reports.
• Facilitates the resolution of problems loans, proactively minimizing potential losses to the Company.
• Proactively manages troubled loan relationships with ability to lead discussions with sophisticated sponsors, counsel, junior staff, and third-party associates.
• Monitors portfolios and quality assurance in compliance with corporate policy.
• Ensures compliance with training, statutes, valuation, and environmental policy.
• Oversees the candidates loan portfolio to ensure consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
• Analyzes severely delinquent and charged off accounts to identify potential problems, trends, and issues for feedback to credit and management.
• Processes charged-off financings including litigation, asset discovery and fraud investigations.
• Mentors and coaches work of junior level workout professionals.
• Communicates recommendations and credit risk management processes to management that strengthens the organization and enhances overall supervision of lending methods and provides tools to continually measure effectiveness.

Qualifications: 
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essenti