Remote CRE Workout Lead — Distressed Loans

Banco Santander SA; Maine; Hybrid; USD 94,000 - 170,000; Full time

Job summary

Santander is seeking a Senior Associate, Commercial Workout Officer to manage distressed CRE loan portfolios, primarily involving NYC rent-regulated multifamily assets. This role requires deep expertise in workouts, underwriting, and restructurings within a regulated financial environment.

Responsibilities include negotiating with borrowers and sponsors, coordinating with legal counsel, and overseeing foreclosures and REO activities to maximize recoveries.

Qualifications

• Bachelor's degree in Finance, Real Estate, Accounting, or related field required.
• 9+ years of CRE workouts or credit risk management experience in a regulated financial institution.
• Strong knowledge of commercial loan documentation and intercreditor agreements.

Responsibilities

• Manage distressed CRE loan portfolio, monitor collateral performance and covenant compliance.
• Perform underwriting, financial modeling, and collateral valuation to support recovery strategies.
• Lead negotiations with borrowers, sponsors, and legal counsel to achieve workout outcomes.
• Oversee judicial foreclosures and REO asset management and disposition.

Skills

Commercial Real Estate Workouts

Negotiation

Financial Analysis

Credit Risk Management

Stakeholder Management

Excel

PowerPoint

Education

Bachelor's Degree: Finance/Real Estate/Accounting

Master's Degree preferred

Tools

Loan Servicing Systems

Risk Management Systems

MS Office

Job description

Santander is seeking a Senior Associate, Commercial Workout Officer to manage distressed CRE loan portfolios, primarily involving NYC rent-regulated multifamily assets. This role requires deep expertise in workouts, underwriting, and restructurings within a regulated financial environment.

Responsibilities include negotiating with borrowers and sponsors, coordinating with legal counsel, and overseeing foreclosures and REO activities to maximize recoveries.