Associate, Workout Commercial Real Estate/Multifamily Workout REMOTE

Associate, Workout (Commercial Real Estate/Multifamily Workout) REMOTEBoston, United States of America

Job Profile Summary

The Associate/Assistant Vice President, Commercial Real Estate Multifamily Workout, manages accounts of low varied complexity and proactively facilitates the resolutions of problem multifamily real estate loans in a cost-effective manner.

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. Responsible for ensuring 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. Manages policy, standard definition and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies. Monitors and manages risk/exposure and compliance with the company's policies. Identifies, manages and reports on the company's risk areas. Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.

Essential Functions/Responsibility Statements:

• Manages 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, accounts of low complexity, 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 improved credit quality or chances of repayment, in a cost-effective manner. Interacts with institutional sponsors.

• Generates new income via late fees, fees for waivers, prepayment fees.

• Reviews adequacy of assigned risk ratings, commercial real estate loan accounting determinations, and provide support for risk rating upgrade and downgrade recommendations.

• Resolves challenges and issues in providing reviewing lending multifamily loans and client portfolios solutions to clients.

• Develops system solutions to generate proper portfolio reporting and maximize current software capabilities to improve effectiveness or efficiency of portfolio monitoring.

• Collects financial information, communicates with existing multifamily borrowers loan applicants and credit administration to ensure approved loans are booked, reviewed and funded, and managed in a proper and timely manner. Ability to analyze income and expense statements, balance sheets, guarantor financial statements and build pro formas for collateral properties at various points of loan cycle.

• Maximizes respective portfolio profitability growth by focusing on priority value add relationships and transactions.

• Participates in or lead the implementation of process and procedure changes.

• Maximizes revenue by generating new income via increased pricing, default interest, or deferred accruals.

• Ability to analyze third party commercial real estate reports such as appraisals, environmental reports, property condition reports.

• Ensures compliance with training, statutes, valuation and environmental policy.

• Supports senior workout professionals in management of troubled loan relationships.

• Maintains abreast emerging risk trends and risk management best practices; summarizes and communicates findings with team.

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 Administration, Accounting, Finance, Economics or equivalent field. Required.

Master's Degree Business Degree in Business Administration, Accounting, Finance, Economics or equivalent field. Preferred.

Work Experience:

5+ Years Workout and or portfolio management or Collections experience. Required.

Skills and Abilities:

• Practical 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.

• Practical knowledge of New York City multifamily loans and, ideally, rent controlled and/or rent stabilized buildings and portfolios.

• Practical knowledge of corporate regulatory requirements, and factors influencing the business in which the Corporation operates.

• Practical knowledge of key business control areas (Audit & Risk Review, Risk Management, Finance, Human Resources, and Legal) and governmental regulatory agencies.

• Ability to quickly respond to inquiries from regulatory agencies, internal partners, and external consultants 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 government regulations, trade journals and legal documents.

• Ability to effectively deal with senior management. as well as, Federal/State and other Regulators.

• Ability to work cross-functionally as a team player.

• Ability to mentor and guide staff and numerous projects simultaneously.

• Ability to influence others, including senior leadership.

• Excellent verbal and written communication skills.

• Advanced Microsoft Office (Excel, Word, PowerPoint, Outlook, SharePoint) skills.

• Strong project management skills.

Diversity & EEO Statements:

At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. 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 superviso.