Senior Workout Office - Remote NC

Santander•Raleigh, NC

6d•Remote

About The Position

Santander is a global leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible. This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference. If you are interested in exploring the possibilities We Want to Talk to You! Senior Commercial Real Estate Workout Officer - Must have Commercial Real Estate Workout experience.

Requirements

Bachelor’s degree in Finance, Real Estate, Accounting, or related field required; MBA or relevant graduate degree preferred.
Minimum 9+ years of experience in commercial real estate workouts, special assets, or credit risk management within a regulated financial institution.
Proven experience reviewing and negotiating commercial loan documentation and complex legal structures.
Background in underwriting and managing rent-regulated multifamily properties in New York City.
Demonstrated ability to negotiate with institutional clients and structure loan modifications or settlements.
Direct experience with judicial foreclosures, receiverships, and REO management.
Understanding of NYC rent regulation and multifamily market dynamics.
Strong analytical, financial modeling, and valuation skills.
Excellent written and verbal communication, negotiation, and presentation skills.
Ability to interpret and apply internal policies, regulatory standards, and legal documentation.
Proficiency with Microsoft Excel, Word, PowerPoint, and loan servicing or risk management systems.

Nice To Haves

Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.
Experience in Microsoft Office products.

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, 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 initiative-taking 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.