Senior Associate - Commercial Real Estate/ Workout Officer (100% Remote)
Company: Santander Holdings USA Inc
Location: Springfield
Posted on: May 7, 2024
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Job Description:
Senior Associate - Commercial Real Estate/ Workout Officer (100%
Remote)New York, United States of AmericaJob Function
Description:
Manages a portfolio of criticized and distressed commercial real
estate loans, across multiple property types, with risk management
and loss mitigation as primary objectives. Minimizes potential
losses to the Company by identifying areas of concern
and/opportunities, and reports on potential and/or known issues and
implements solutions in accordance with risk management
objectives.
Provides continuous monitoring of credit risks in the Portfolio and
proposes action plans directed towards mitigation and resolving
further potential deterioration in borrowers in the Portfolio.
Performs financial analysis on the commercial real estate
collateral and related parties, reviews market conditions, and
identifies the relevant risks that are appropriately mitigated.
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 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/Responsibilities:
Devise strategies, negotiate and structure transactions as required
in Workout, provided that the decisions are consistent with the
overall obligor strategy and plan as approved.
Develop Workout strategies including analysis of a borrower's
repayment capacity, evaluation of the guarantor support, and
continual assessment of collateral condition and value.
Perform financial analysis, Commercial Real Estate appraisal
analysis, understanding of market dynamics and ensuring internal
and external reporting is completed as required.
Prepare Workout credit proposals and reviews, ensuring appropriate
risk ratings, accrual status, charge-offs, reserves, and
strategies.
Provide continuous monitoring of credit risks in the Portfolio and
propose action plans directed towards mitigation and resolving
further potential deterioration in borrowers in the Portfolio
Collaborates with multiple internal and external parties associated
with each loan, including legal, loan operations and the middle
office.
Facilitates the resolution of problem loans through improved credit
quality or repayment, in a cost effective manner.
Reviews adequacy of assigned risk ratings and provide support for
risk rating upgrade and downgrade recommendations.
Collects financial information, communicates with loan operations
and middle office to ensure approved loans are booked, funded, and
managed in a proper and timely manner.
Reduces criticized and classified exposures in accordance with risk
management objectives and corporate budgets.
Ensures compliance with training, statutes, valuation and
environmental policy.
Analyzes severely delinquent and charged off accounts to identify
possible problems, trends, and issues for feedback to credit and
management.
Mentors and coaches work of junior level workout professionals.
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.
Master's Degree: Business, Accounting, Finance, Economics or
equivalent field, preferred.
Work Experience:
10+ Years Commercial Real Estate Workout experience or
10+ years of CRE underwriting/portfolio management experience
Skills and Abilities:
Ability to develop and present the Bank's position to execute
proposed strategies to remedy substandard and non-performing
credits.
Strong math and analytical skills.
In depth understanding of CRE loan documentation
Ability to quickly respond to inquiries from regulatory agencies,
internal partners, and external consultants.
Advanced knowledge of collection and workout best practices,
identification, resolution and implementation.
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 interact with senior level management; experience
interfacing with multiple levels of the organizational
structure.
Advanced Microsoft Office (Excel, Word, PowerPoint, Outlook,
Sharepoint) 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 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.
For the right candidate, this position can be fully remote.
For NYC Job Applicants: The base annual salary range for this
position is $125,000 - $165,000. The exact compensation may vary
based on skills, experience, training, licensure and certifications
and location.
Bachelor of Science (BS) English
Primary Location: New York, NY, New York
Other Locations: New York-New York,Texas-Santander
Consumer,Ohio-Columbus,North
Carolina-Raleigh,Michigan-Lansing,Maryland-Annapolis,Virginia-Richmond,Iowa-Des
Moines,Nevada-Carson City,New
Hampshire-Concord,Alabama-Montgomery,Texas-Austin,South
Carolina-Columbia,Vermont-Montpelier,Alaska-Juneau,New
Jersey-Trenton,Montana-Helena,California-Sacramento,Nebraska-Lincoln,West
Virginia-Charleston,New
York-Albany,Wisconsin-Madison,Colorado-Denver,Wyoming-Cheyenne,Indiana-Indianapolis,Missouri-Jefferson
City,Georgia-Atlanta,Connecticut-Hartford,Oklahoma-Oklahoma
City,Massachusetts-Boston,Illinois-Springfield,Utah-Salt Lake
City,Mississippi-Jackson,Florida-Tallahassee,Delaware-Dover,Hawaii-Honolulu,Washington-Olympia,Maine-Augusta,New
Mexico-Santa Fe,South Dakota-Pierre,Arkansas-Little
Rock,Pennsylvania-Harrisburg,Tennessee-Nashville,North
Dakota-Bismarck,Kentucky-Frankfort,Idaho-Boise,Minnesota-St
Paul,Rhode Island-Providence,Oregon-Salem,Louisiana-Baton
Rouge,Kansas-Topeka
Organization: Santander Bank N.A.
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Keywords: Santander Holdings USA Inc, Bloomington , Senior Associate - Commercial Real Estate/ Workout Officer (100% Remote), Accounting, Auditing , Springfield, Illinois
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