Senior Associate, Commercial Workout Officer

Job Description:

• Manage a portfolio of distressed commercial real estate loans
• Monitor collateral performance, borrower financial condition, guarantor support, and covenant compliance
• Evaluate property operations, rent rolls, financial statements, market conditions, and capital needs
• Develop and execute loan resolution strategies, including modifications, restructurings, forbearances, and other workout solutions
• Perform underwriting, financial modeling, collateral valuation, and risk analysis
• Prepare credit memoranda, action plans, and presentations for management and credit committee approval
• Review, interpret, and negotiate commercial loan documentation, including loan agreements, mortgages, guarantees, intercreditor agreements, and workout-related documentation
• Partner with internal and external legal counsel to ensure documentation accuracy and compliance
• Identify legal, structural, and collateral-related issues affecting loan recovery or enforceability
• Lead or support negotiations with borrowers, sponsors, investors, legal representatives, and other stakeholders
• Oversee judicial foreclosure proceedings and coordinate with legal counsel
• Manage REO assets after foreclosure, including stabilization, valuation analysis, asset management, and disposition
• Maintain communication with borrowers, internal management, and internal partners throughout the workout lifecycle

Requirements:

• Bachelor’s Degree in Finance, Real Estate, Accounting, or a related field — 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
• Experience in commercial real estate lending, credit underwriting, loan workouts, restructuring, asset management, special assets, or related areas
• Deep understanding of commercial loan documentation, mezzanine financing, related intercreditor agreements, and commercial real estate finance
• Extensive experience analyzing property financial statements, property performance, collateral values, and credit risk
• Strong analytical, negotiation, communication, and relationship management skills
• Ability to prepare and present credit recommendations and workout strategies to senior stakeholders
• Proficiency with Word, PowerPoint, and loan servicing or risk management systems
• Expert-level Excel proficiency
• Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education
• Must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to commence 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 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 well-being
• Inclusive and accessible application process
• Reasonable accommodations for individuals with disabilities