Workout Officer - Multifamily Commercial Real Estate - Remote

Workout Officer - Multifamily Commercial Real Estate - Remote

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

The Difference You Make:

The Multifamily Commercial Real Estate Workout Officer (Associate) manages accounts of low complexity and proactively facilitates the resolutions of problem loans in a cost effective manner. The incumbent minimizes potential losses to the Company by identifying areas of concern, opportunities, reports on potential and/or known issues, recommends process improvements. and implements solutions to existing programs in accordance with risk management objectives and corporate budgets.

• Manages accounts of low complexity, in accordance with risk management objectives and corporate budgets.
• Facilitates the resolution of problem loans through improved credit quality or repayment, in a cost effective manner.
• Generates new income via late fees, fees for waivers, prepayment fees.
• Reviews adequacy of assigned risk ratings and provide support for risk rating upgrade and downgrade recommendations.
• Resolves challenges and issues in providing lending solutions to clients.
• Develops system solutions to generate proper portfolio reporting and maximize current software capabilities to improve effectiveness or efficiency of portfolio monitoring.
• Collects financial information, communicates with loan applicants and credit administration to ensure approved loans are booked, funded, and managed in a proper and timely manner.
• Maximizes respective portfolio profitability growth by focusing on value add relationships and transactions.
• Participates in or lead the implementation of process and procedure changes.
• Maximizes revenue by generating new income via increased pricing, default interest, or deferred accruals
• Ensures compliance with training, statutes, valuation and environmental policy.
• Supports senior workout professionals in management of troubled loan relationships.
• Maintains abreast emerging risk trends and risk management best practices; summarizes and communicates findings with team.
• Coaches and reviews the work of junior workout professionals, when needed.

What You Bring:
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 essential functions.

Ideal Candidate Will Have:

• Successful history in banking where worked 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.

Bachelor's Degree or equivalent work experience: Business Administration, Accounting, Finance, Economics or equivalent field. - Required.
Master's Degree Business Administration, Accounting, Finance, Economics or equivalent field. - Preferred.

5+ Years Commercial Real Estate Workout or Collections experience. - Required.

• Practical knowledge of corporate regulatory requirements, and factors influencing the business in which the Corporation operates.
• Practical knowledge of key business control areas (Audit & Risk Review, Risk Management, Finance, Human Resources, and Legal) and governmental regulatory agencies.
• Ability to resolve complex situations with internal clients and regulators, while maintaining a professional presence.
• Ability to quickly respond to inquiries from regulatory agencies, internal partners, and external consultants.