Position Overview
This is a senior-level, remote opportunity for a Commercial Real Estate Workout Officer specializing in distressed loan portfolios secured by rent-regulated multifamily properties in New York City. The role centers on evaluating, restructuring, and resolving complex commercial real estate loans within a highly regulated environment. Success requires a strong command of credit risk principles, legal processes, and market-specific dynamics unique to NYC’s housing landscape.
Key Responsibilities
- Oversee a portfolio of mid-complexity commercial real estate loans, with a primary focus on rent-regulated multifamily assets
- Analyze borrower financials, collateral performance, and guarantor strength to assess risk and determine appropriate resolution strategies
- Design and implement solutions such as loan modifications, forbearance agreements, restructurings, and enforcement actions
- Monitor ongoing compliance with loan covenants, property operations, and financial performance
- Interpret and negotiate key loan documents including promissory notes, mortgages, guarantees, intercreditor agreements, and modification terms
- Collaborate with internal and external legal counsel to ensure documentation aligns with credit policies and regulatory requirements
- Identify structural or legal risks that may affect collateral recovery or enforceability
- Conduct detailed underwriting of rent-regulated properties, evaluating rent rolls, operating statements, capital needs, and market trends
- Build financial models, perform collateral valuations, and assess risk to support resolution decisions
- Prepare comprehensive credit memoranda and present action plans to management and credit committees
- Negotiate directly or support negotiations with institutional borrowers, sponsors, and legal representatives to achieve balanced outcomes
- Maintain consistent, professional communication with stakeholders throughout the workout lifecycle
- Oversee judicial foreclosure proceedings, ensuring adherence to New York state laws and procedural rules
- Manage Real Estate Owned (REO) assets post-foreclosure, including stabilization, valuation, and disposition planning
- Ensure all activities comply with internal risk frameworks, regulatory standards, and audit requirements
- Maintain accurate and complete loan files, workout records, and reporting documentation
- Apply credit policy rigorously and ensure all recommendations are well-supported and documented
Qualifications
- Bachelor’s degree in Finance, Real Estate, Accounting, or a related field
- Minimum of five years of experience in commercial real estate workouts, special assets, or credit risk management within a regulated financial institution
- Proven track record in reviewing and negotiating commercial loan agreements and complex legal structures
- Direct experience underwriting and managing rent-regulated multifamily properties in New York City
- Demonstrated ability to lead or support negotiations with institutional clients and structure loan resolutions
- Hands-on experience with judicial foreclosures, receiverships, and REO management
- Strong understanding of NYC rent regulation frameworks and multifamily market conditions
- Advanced analytical, financial modeling, and valuation capabilities
- Excellent written and verbal communication, negotiation, and presentation skills
- Ability to interpret and apply internal policies, regulatory guidelines, and legal documentation
- Proficiency in Microsoft Word, PowerPoint, and expert-level Excel
- Experience with loan servicing platforms and risk management systems
Compensation and Work Environment
The salary range for this position is $76,875 to $135,000 USD. The role is fully remote and open to candidates within the United States. A comprehensive benefits package is available, designed to support long-term well-being and professional growth. The organization promotes a risk-aware culture, emphasizing accountability, inclusion, and respect for diverse perspectives.
Equal Opportunity Employer
This institution is committed to building a diverse and inclusive workforce. All qualified applicants will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other protected characteristic. The hiring process is designed to be accessible and equitable for all candidates.
