Associate

Associate, Workout (Commercial Real Estate / Multifamily Workout) REMOTE

Associate, Workout (Commercial Real Estate / Multifamily Workout) REMOTE

Apply locations Boston, Dover, Oklahoma City, Richmond, Columbus

Time Type : Full time

Posted on : Posted 27 Days Ago

Job Requisition ID : Req1394820

Country : 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.

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. 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 improve 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 leads 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 of 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 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 :

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 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.

Base Pay Range

Minimum : $75,000.00 USD

Maximum : $130,000.00 USD

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Salary : $75,000 - $130,000