Commercial Loan Workout Senior Officer - Multifamily Focus - Remote

Commercial Loan Workout Senior Officer - Multifamily Focus - Remote

Commercial Real Estate Multifamily SENIOR WORKOUT OFFICER - (VP, Senior Associate) leverages his or her subject matter expertise for workout situations and activities and facilitates the resolution of problems multifamily real estate loans, proactively minimizing potential losses to the Company. The incumbent manages accounts of medium and advanced complexity and leads special workout projects and/or programs.

Ideal candidate will have:

• Successful history in banking, working 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.

Job Description:

• Monitors activities to minimize the company's exposure to risk.
• Activities may include quantitative analysis, risk identification and remediation.
• Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards.
• Ensures that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.
• Ensures adherence to the standards, policies and procedures established by the company.
• Monitors and manages risk/exposure and compliance with the company's policies.

Essential Functions:

• Manages accounts of medium and advanced complexity including defaulted multifamily commercial real estate loans and borrower relationships, the majority of which are rent stabilized and/or rent controlled housing assets in/around Greater New York City, in accordance with risk management objectives and corporate budgets. 
• Facilitates the resolution of problem multifamily loans through interacting with multifamily borrowers, designing and implementing loan modifications to improve credit quality or chances of repayment, in a cost-effective manner. Interacts with institutional sponsors. 
• Reviews adequacy of assigned risk ratings, commercial loan accounting determinations, and provide support for risk rating upgrade and downgrade recommendations.
• Collects financial information, communicates with existing multifamily borrowers s and credit administration to ensure loans are reviewed and managed in a proper and timely manner.
• Ability to analyze income and expense statements, balance sheets, guarantor financial statements and build pro forma for collateral properties at various points of loan cycle. 
• Performs analysis of credit submittals regarding transactions and / or financial strengths to ascertain if borrowers qualify for financing restructures and recommend solutions to resolve loans.
• Ability to analyze third party commercial real estate reports such as appraisals, environmental reports, property condition reports.
• Facilitates the resolution of problems loans, proactively minimizing potential losses to the Company.
• Proactively manages troubled loan relationships with ability to lead discussions with sophisticated sponsors, counsel, junior staff, and third-party associates.
• Monitors portfolios and quality assurance in compliance with corporate policy.
• Ensures compliance with training, statutes, valuation, and environmental policy.
• Oversees the candidates loan portfolio to ensure consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
• Analyzes severely delinquent and charged off accounts to identify potential problems, trends, and issues for feedback to credit and management.
• Processes charged-off financings including litigation, asset discovery and fraud investigations.
• Mentors and coaches work of junior level workout professionals.
• Communicates recommendations and credit risk management processes to management that strengthens the organization and enhances overall supervision of lending methods and provides tools to continually measure effectiveness.

Qualifications: 
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.

Education:

• Bachelor’s degree or equivalent work experience: Business, Accounting, Finance, Economics, or equivalent field - Required. 
• Master’s degree in business administration, Accounting, Finance, Economics, or equivalent field - Preferred.

Work Experience:

• 9+ Years Workout and/or portfolio management experience - Required

Skills and Abilities:

• Advanced knowledge of Commercial Loan Workout best practices, identification, resolution, and implementation.
• Knowledge of multifamily lending, underwriting, loan documentation, and asset management and ability to implement such knowledge into proposed thoughtful loan restructures and assemblage of loan credit files.
• Knowledge of New York City multifamily loans and, ideally, rent controlled and/or rent stabilized buildings and portfolios.
• Ability to provide accurate and timely reporting and analyses on the assigned portfolio for investors and as part of quarterly portfolio review. 
• Ability to read, analyze and interpret commercial real estate multifamily financial information, loan files and legal documents.
• Ability to work cross-functionally as a collaborator. 
• Excellent interpersonal, supervisory, and customer service skills required.
• Excellent written and verbal communication skills
• Excellent critical thinking skills with the ability to be adept in identifying and resolving complex risk management problems.
• Ability to build and foster internal relationships.
• Ability to lead, influence and direct peers, subordinates, and management.
• Ability to interact with senior level management, experience interfacing with multiple levels of the organizational structure.
• Advanced Microsoft Office (Excel, Word, PowerPoint, Outlook, SharePoint) skills. 
• Self-directed, initiative-taking, and demonstrated experience providing ideas and solutions to further business understanding.

Diversity & EEO Statements:

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply.
 
Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Working Conditions:

Frequent Minimal physical effort such as sitting, standing, and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights:

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.