Workout Officer - Remote at Santander

Boston, Massachusetts, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, Real EstateIndustries

Requirements

Bachelor’s degree in Finance, Real Estate, Accounting, or a related field required; MBA or advanced degree preferred
5+ years of experience in commercial real estate workouts, special assets, or credit risk management, ideally within a regulated financial institution
Proven ability to review and negotiate commercial loan documentation
Demonstrated experience underwriting rent-regulated multifamily properties in the NYC market
Strong background in credit analysis, collateral valuation, and borrower negotiations
Advanced financial modeling and credit risk assessment capabilities
Working knowledge of rent regulation laws and NYC multifamily market dynamics
Excellent negotiation, communication, and interpersonal skills
Proficiency in Microsoft Excel, Word, and loan servicing or risk management systems
Analytical Thinking & Judgment competencies

Responsibilities

Manage a portfolio of distressed and criticized multi-family loans
Analyze collateral, borrower financials, guarantor strength, and market dynamics to recommend resolution strategies
Implement and monitor approved workout plans, including modifications, forbearance agreements, and foreclosure proceedings
Review, interpret, and negotiate commercial loan documents, including notes, mortgages, guarantees, intercreditor agreements, and loan modifications
Coordinate with internal and external legal counsel to ensure accuracy and compliance with Santander’s standards and regulatory requirements
Evaluate rent-regulated property performance, including rent rolls, operating expenses, reserve accounts, and capital needs
Prepare and present credit memoranda and risk assessments for management review
Lead discussions with borrowers, including institutional sponsors, investors, and legal representatives to achieve mutually acceptable outcomes
Maintain effective communication with internal stakeholders, including Credit, Legal, Appraisal, and Compliance teams
Ensure all activities adhere to internal policies, regulatory standards, and applicable laws, including those governing rent-regulated properties
Maintain accurate loan files and produce periodic portfolio and risk management reports

Skills

Underwriting

Credit Risk Analysis

Loan Documentation

Negotiation

Portfolio Management

Collateral Analysis

Financial Analysis

Market Analysis

Foreclosure Proceedings

Forbearance Agreements

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.

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