Senior Workout Officer - Remote at Santander

Austin, Texas, United States

Apply Now

Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Banking, Real EstateIndustries

Requirements

Must have Commercial Real Estate Workout experience
Credit & Risk Acumen – Evaluates credit scenarios with sound judgment and risk awareness
Regulatory & Policy Adherence – Demonstrates thorough understanding of banking regulations and internal governance standards
Negotiation & Influence – Effectively negotiates with institutional counterparties to achieve optimal outcomes
Execution & Acumen (inferred from context)

Responsibilities

Manage a portfolio of mid- to high-complexity distressed commercial real estate loans, focusing on rent-regulated multifamily assets in NYC
Evaluate collateral performance, borrower financials, and guarantor support to identify risks and recommend appropriate workout strategies
Develop and execute resolution plans including loan modifications, forbearances, restructurings, and the pursuit of various remedies
Monitor ongoing borrower compliance, property performance, and loan covenant adherence
Review, interpret, and negotiate commercial loan documents, including notes, mortgages, guarantees, intercreditor agreements, and forbearance or modification agreements
Partner with internal and external counsel to ensure documentation accuracy and adherence to internal credit and regulatory standards
Identify legal and structural issues that could impact collateral recovery or enforceability
Conduct comprehensive underwriting of rent-regulated multifamily properties, including evaluation of rent rolls, regulatory compliance, operating statements, capital needs, and market dynamics
Perform financial modeling, collateral valuations, and risk assessments to support loan resolution recommendations
Prepare and present detailed credit memoranda and action plans to management and credit committees
Lead negotiations with institutional borrowers, sponsors, investors, and legal representatives to achieve balanced, risk-mitigated outcomes
Maintain proactive and professional communication with borrowers and internal stakeholders throughout the workout process
Oversee and manage judicial foreclosure processes, coordinating with counsel to ensure compliance with state laws and procedural requirements
Manage Real Estate Owned (REO) assets post-foreclosure, including stabilization, valuation, and disposition
Collaborate with internal Real Estate and Asset Management teams to optimize recovery and minimize holding costs
Ensure all actions comply with internal policies, risk management frameworks, and regulatory requirements
Maintain thorough loan files, workout documentation, and regulatory reporting consistent with audit and examination standards
Demonstrate a strong understanding of credit policy and ensure all recommendations and actions are appropriately supported and documented

Skills

Key technologies and capabilities for this role

Commercial Real EstateWorkout StrategiesLoan ModificationsForbearancesRestructuringsPortfolio ManagementCollateral EvaluationLoan DocumentationCredit AnalysisCovenant MonitoringMultifamily AssetsRisk Assessment

Questions & Answers

Common questions about this position

Is this position remote?

Yes, this is a fully remote position available anywhere within the United States.

What experience is required for this role?

Candidates must have Commercial Real Estate Workout experience, with skills in managing distressed commercial real estate loans, particularly rent-regulated multifamily assets in NYC.

What are the main responsibilities of the Senior Workout Officer?

Responsibilities include managing a portfolio of distressed commercial real estate loans, reviewing and negotiating loan documents, conducting underwriting and financial analysis, leading negotiations, and overseeing foreclosure processes.

What is the company culture like at Santander?

Santander fosters an enriching environment focused on continuous learning, personal growth, collaboration with talented colleagues worldwide, engagement, and commitment to employee success.

What makes a strong candidate for this position?

A strong candidate will have prior Commercial Real Estate Workout experience and expertise in handling distressed rent-regulated multifamily loans in NYC, along with skills in portfolio management, loan documentation, underwriting, negotiation, and foreclosure oversight.

Santander

Provides banking, investment, and insurance services

About Santander

Santander Bank provides a variety of financial services to individuals, small businesses, and large corporations in the United States. Its offerings include savings and checking accounts, loans, credit cards, and investment products. The bank also has specialized services through Santander Investment Services and insurance products via Santander Securities LLC. Santander stands out from its competitors by focusing on community growth, committing $13.6 billion to support initiatives like the 'Cultivate Small Business' program, which aids early-stage entrepreneurs, especially from underrepresented groups. The bank generates revenue through interest on loans, service fees, and commissions, while promoting responsible banking practices and financial education. Santander's goal is to empower individuals and businesses, enhance community prosperity, and provide comprehensive financial solutions.

Boston, MassachusettsHeadquarters

1902Year Founded

$75MTotal Funding

POST_IPO_DEBTCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision

401k

Flexible PTO

Parental & sick leave

Discounts: technology, travel, auto, fitness, & tuition

Risks

ISO 20022 transition may challenge smaller business partners.

'Quishing' attacks pose a growing threat to consumer security.

Openbank faces competition in the U.S. high-yield savings market.

Differentiation

Santander's Openbank offers a 5.00% APY high-yield savings account nationwide.

The bank's Inclusive Communities Plan pledges $13.6 billion for community initiatives.

Santander's ISO 20022 adoption enhances operational efficiency and data management.

Upsides

Openbank's high-yield savings account attracts more U.S. customers.

Santander's renewable energy financing highlights commitment to sustainable investments.

Proactive cybersecurity measures enhance customer trust and protect digital assets.

Land your dream remote job 3x faster with AI

Try Jobo Free