Senior Associate, Commercial Workout Officer

This is a fully remote position, open to applicants in Maine.

📋 Description

• Oversee a portfolio of distressed commercial real estate loans.

• Track the performance of collateral, the financial health of borrowers, support from guarantors, and compliance with covenants.

• Assess property operations, rent rolls, financial documents, market trends, and capital requirements.

• Formulate and implement strategies for loan resolution, such as modifications, restructurings, forbearances, and other workout options.

• Conduct underwriting, financial modeling, collateral valuation, and risk assessment.

• Draft credit memoranda, action plans, and presentations for management and credit committee approval.

• Analyze, interpret, and negotiate commercial loan documentation, including loan agreements, mortgages, guarantees, intercreditor agreements, and documentation related to workouts.

• Collaborate with internal and external legal counsel to ensure the accuracy and compliance of documentation.

• Identify legal, structural, and collateral issues that may impact loan recovery or enforceability.

• Lead or assist in negotiations with borrowers, sponsors, investors, legal representatives, and other stakeholders.

• Supervise judicial foreclosure processes and coordinate with legal counsel.

• Manage REO assets post-foreclosure, focusing on stabilization, valuation analysis, asset management, and disposition.

• Maintain communication with borrowers, internal management, and partners throughout the workout process.

⛳️ Requirements

• Bachelor’s Degree in Finance, Real Estate, Accounting, or a related discipline — Required.

• 9+ years of experience in commercial real estate workouts, including large portfolios, special servicing/special assets, or credit risk management within a regulated financial institution.

• Background in commercial real estate lending, credit underwriting, loan workouts, restructuring, asset management, special assets, or similar fields.

• In-depth knowledge of commercial loan documentation, mezzanine financing, related intercreditor agreements, and commercial real estate finance.

• Significant experience in analyzing property financial statements, performance metrics, collateral values, and credit risk.

• Strong skills in analysis, negotiation, communication, and relationship management.

• Capacity to prepare and deliver credit recommendations and workout strategies to senior stakeholders.

• Proficiency in Word, PowerPoint, and loan servicing or risk management systems.

• Advanced Excel skills.

• Proven work history or equivalent experience demonstrated through a combination of work experience, training, military service, or education.

• Must possess legal authorization to work in the United States full-time without requiring employer sponsorship for employment.

• Preferred: Master’s Degree in Finance, Real Estate, Accounting, or a related field.

• Preferred: Experience with distressed commercial real estate assets and loan restructuring, including CMBS special servicing or special assets at a regulated financial institution.

• Preferred: Knowledge of rent-regulated multifamily housing in New York City.

• Preferred: Extensive experience in managing judicial foreclosure processes, foreclosures, Chapter 11 bankruptcies, related 363 sales, and REO assets.

🏝️ Benefits

• Fair and competitive rewards package.

• Benefits designed to support employees, their families, and overall well-being.

• An inclusive and accessible application process.

• Reasonable accommodations for individuals with disabilities.