Senior Associate, Commercial Workout Officer

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

📋 Description

• Oversee a portfolio of distressed commercial real estate loans.

• Track the performance of collateral, financial status of borrowers, support from guarantors, and adherence to covenants.

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

• Formulate and implement loan resolution strategies, which may include modifications, restructurings, forbearances, and other workout solutions.

• Conduct underwriting, financial modeling, collateral assessments, and risk evaluations.

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

• Analyze, interpret, and negotiate commercial loan documents.

• Collaborate with both internal and external legal counsel to ensure documentation accuracy and compliance with regulations.

• 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.

• Manage REO assets post-foreclosure, including stabilization, valuation, asset management, and disposition.

• Maintain clear 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.

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

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

• Thorough understanding of commercial loan documentation, mezzanine financing, and related intercreditor agreements.

• Extensive experience in analyzing property financial statements.

• Strong analytical, negotiation, communication, and relationship management abilities.

• Capable of preparing and delivering credit recommendations and workout strategies to senior stakeholders.

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

• Expert-level skills in Excel.

• Candidates must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to begin employment.

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

• Preferred: Expertise in commercial real estate loan workouts in 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 foreclosures, Chapter 11 bankruptcies, related 363 sales, and REO assets.

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

🏝️ Benefits

• Fair and competitive rewards package.

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

• Inclusive and accessible application process.

• Reasonable accommodations available for individuals with disabilities.