Executive Director, CRE Transaction Management and Underwriting

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Senior Executive Director for Commercial Real Estate underwriting and transaction management at Santander.

Lead CMBS and SASB loan structuring across US markets while mentoring junior teams.

Executive Director, CRE Transaction Management and Underwriting

Country: United States of America

It Starts Here:

Santander is a global leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible. This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference.

If you are interested in exploring the possibilities We Want to Talk to You!

The Difference You Make

Santander Corporate & Investment Banking (SCIB) provides a comprehensive suite of financing, advisory, and banking solutions to corporate, financial sponsor, institutional investor, and commercial real estate clients globally. Within SCIB, Commercial Real Estate delivers integrated lending solutions to a diverse client base, including private equity sponsors, institutional investors, developers, REITs, and operating companies.

The Executive Director, Transaction Manager and Underwriter is a senior leader within the Commercial Real Estate platform, responsible for the underwriting, structuring, and overall deal execution of commercial real estate loan transactions across Santander's CMBS Conduit, Single-Asset Single-Borrower (SASB), Balance Sheet, and Warehouse lending platforms. This role serves as a player-coach, combining hands-on transaction leadership with mentorship and development of junior team members. The Executive Director partners closely with the Origination team, Credit Risk, Legal, Middle Office, Operations, and senior management to evaluate opportunities, manage risk, and deliver efficient deal execution from initial screening through loan closing, securitization, syndication, and asset management.

The successful candidate will bring deep expertise in commercial real estate credit, structured finance, and CMBS execution while contributing to the continued growth, profitability, and market presence of Santander's growing Commercial Real Estate platform.

Essential Duties and Responsibilities

• Lead the underwriting, structuring, and execution of CMBS conduit, SASB, Balance Sheet, and Warehouse loan transactions across a broad range of property types and markets throughout the US.
• Evaluate borrower submissions, property cash flows, sponsorship, market fundamentals, and third-party due diligence to determine transaction viability and creditworthiness.
• Work with the team to structure loan proceeds, pricing, and terms consistent with Santander's risk appetite, credit standards, and profitability objectives.
• Prepare and present transaction recommendations to internal credit, investment, and approval committees.
• Serve as the primary execution lead throughout the transaction lifecycle, coordinating internal and external stakeholders to ensure timely and successful closings.
• Oversee due diligence efforts, including appraisal, engineering, environmental, insurance, legal, and market reviews, both internally and with third-party vendor support relationships.
• Coordinate with investors, B-piece buyers, rating agencies, legal counsel, Middle Office, and Operations teams to address transaction-related diligence and closing requirements.
• Identify, assess, and mitigate transaction risks while balancing client needs, execution certainty, and portfolio objectives.
• Monitor active pipeline activity, closing forecasts, and transaction metrics to support business planning and production goals.
• Provide market intelligence and strategic insights regarding commercial real estate fundamentals, lending conditions, and competitive market dynamics.
• Act as a player-coach by mentoring, training, and developing junior underwriting and execution professionals.
• Contribute to the development and enhancement of underwriting standards, execution processes, and risk management practices.
• Maintain current knowledge of commercial real estate market trends, CMBS activity, and industry developments.

Qualifications

Education

Bachelor's Degree in Finance, Real Estate, Economics, Business Administration, or a related field required.

Experience & Skills

• 10+ years of commercial real estate lending, CMBS, structured finance, or related experience.
• Significant experience underwriting and executing across CMBS conduit/SASB/Balance Sheet transactions.
• Strong understanding of CMBS securitization, rating agency methodologies, and institutional investor requirements.
• Advanced financial modeling, cash flow analysis, and commercial real estate credit underwriting skills.
• Demonstrated leadership experience managing deal teams and mentoring junior professionals.
• Proven ability to manage multiple complex transactions in a fast-paced, deadline-driven environment.
• Strong project management, organizational, and analytical capabilities.
• Excellent verbal and written communication skills with the ability to present complex credit matters to senior stakeholders.
• Proven ability to influence stakeholders and drive consensus across multiple business functions.
• Strong relationship management skills with both internal and external stakeholders.

Preferred Qualifications

• Experience across multiple commercial real estate asset classes, including office, multifamily, industrial, retail, hospitality, and specialty sectors.
• Familiarity with loan securitization, warehouse financing, and institutional execution processes.
• Established reputation for sound credit judgment and transaction execution within the commercial real estate industry.

What Else You Need To Know:

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Base Pay Range:

Minimum: $270,000.00 USD

Maximum: $330,000.00 USD

Risk Culture:

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement:

At Santander, we value and respect differences in our workforce. 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 is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

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 your employment at any time for any reason.

What To Do Next :

If this sounds like a role you are interested in, then please apply.

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at TAOps@santander.us to discuss your needs.