Senior CRE Workout Lead - Distressed Loan Recovery (Remote)

Santander; Maine; Remote; USD 94,000 - 170,000; Full time

Job summary

Santander is seeking a senior Commercial Real Estate Loan Workout professional to manage a portfolio of distressed loans secured by rent-regulated multifamily properties in New York City. This role requires deep expertise in NYC rent regulation dynamics, complex restructurings, and coordinated actions with legal counsel.

The successful candidate will drive loan resolution strategies, perform underwriting and financial modeling, and present credit recommendations to senior stakeholders, while

Qualifications

• Bachelor’s Degree: Finance, Real Estate, Accounting, or a related field – Required.
• Master's Degree: Finance, Real Estate, Accounting, or a related field – Preferred.
• 9+ years of experience in commercial real estate workouts, including special servicing / special assets, or credit risk management within a regulated financial institution.
• Experience in commercial real estate lending, credit underwriting, loan workouts, restructuring, asset management, special assets, or related areas.
• Deep understanding in commercial loan documentation, mezzanine financing and related intercreditor agreements.
• Extensive experience in analyzing property financial statements.
• Strong analytical, negotiation, communication, and relationship management skills.
• Ability to prepare and present credit recommendations and workout strategies to senior stakeholders.
• Proficiency with Word, PowerPoint, and loan servicing or risk management systems.
• Expert level Excel.

Responsibilities

• Manage a portfolio of distressed CRE loans, monitoring collateral performance, borrower financial condition, guarantor support, and covenant compliance.
• Evaluate property operations, rent rolls, financial statements, market conditions, and capital needs to identify risks and opportunities.
• Develop and execute loan resolution strategies, including modifications, restructurings, forbearances, and other workout solutions.
• Perform underwriting, financial modeling, collateral valuation, and risk analysis to support credit recommendations and recovery strategies.
• Prepare credit memoranda, action plans, and presentations for management and credit committee approval.
• Review, interpret, and negotiate commercial loan documentation, including loan agreements, mortgages, guarantees, intercreditor agreements, and workout-related documentation.
• Partner with internal and external legal counsel to ensure documentation accuracy and compliance with applicable policies and regulations.
• Identify legal, structural, and collateral-related issues that may impact loan recovery or enforceability.
• Lead or support negotiations with borrowers, sponsors, investors, legal representatives, and other stakeholders to achieve effective workout outcomes.
• Oversee judicial foreclosure proceedings and coordinate with legal counsel throughout the process.
• Manage REO assets following foreclosure, including stabilization efforts, valuation analysis, asset management, and disposition activities.
• Maintain effective communication with borrowers, internal management and partners throughout the workout lifecycle.

Skills

Commercial Real Estate

Loan Workout

Credit Underwriting

Negotiation

Financial Modeling

Excel

Intercreditor Agreements

Education

Bachelor's Degree: Finance, Real Estate, Accounting, or related field

Master's Degree: Finance, Real Estate, Accounting, or related field

Tools

Word

PowerPoint

Loan Servicing Systems

Risk Management Systems

Excel

Job description

Santander is seeking a senior Commercial Real Estate Loan Workout professional to manage a portfolio of distressed loans secured by rent-regulated multifamily properties in New York City. This role requires deep expertise in NYC rent regulation dynamics, complex restructurings, and coordinated actions with legal counsel.

The successful candidate will drive loan resolution strategies, perform underwriting and financial modeling, and present credit recommendations to senior stakeholders, while