Workout Associate - Remote

** It Starts Here:*
* 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!*
* ** The Difference You Make:*
* The Associate  
** Workout Officer
** is responsible for managing a portfolio of  
** low- to mid-complexity non-performing commercial real estate loans** , primarily secured by  
** rent-regulated multifamily properties in New York City** . The role requires demonstrated knowledge in  
** commercial loan documentation, underwriting, and credit risk analysis** , as well as the ability to  
** negotiate and structure solutions with clients** .

The successful candidate will leverage strong analytical, negotiation, and relationship management skills to protect the bank's interests while seeking pragmatic, regulatory-compliant outcomes.

** Essential

Duties & Responsibilities *
* +  
** Workout & Portfolio Management*
* + 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.

+  
** Commercial Loan Documentation*
* + 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.

+  
** Underwriting & Financial Analysis*
* + 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.

+  
** Negotiation & Relationship Management*
* + 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.

+  
** Compliance & Reporting*
* + 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.

** Qualifications*
* +  
*
* Education:

** Bachelor's degree in Finance, Real Estate, Accounting, or a related field required; MBA or advanced degree preferred.

+  
*
* Experience:

*
* + 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** .

+  
** Skills &

Competencies:

*
* + 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.

** Competencies*
* +  
** Analytical Thinking & Judgment**  - Applies critical thinking to evaluate credit situations and make sound recommendations.

+  
** Relationship Management**  - Builds productive relationships with borrowers, institutional investors, and internal partners.

+  
** Execution & Results Orientation**  - Drives timely and effective resolution of distressed assets.

+  
** Risk Awareness**  - Understands and…