Commercial Real Estate Underwriter - Associate / Sr Associate

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!

Role Overview

The Associate / Sr Associate, CRE Underwriter will support underwriting and end-to-end deal management for Commercial Real Estate transactions across CMBS, direct lending, and warehouse finance. The role partners primarily with internal stakeholders and assists senior leaders with underwriting analysis, execution materials, and coordination across workstreams.

Responsibilities

• Underwrite CRE transactions across CMBS, direct lending, and warehouse finance, including sponsor, borrower, and collateral analysis.

• Support full deal management activities, coordinating key workstreams from initial screening through approval and execution.

• Prepare underwriting deliverables and internal approval materials, clearly documenting key risks, mitigants, and recommended terms.

• Review and synthesize diligence materials (financial statements, rent rolls, operating statements, and third-party reports as applicable) and escalate key findings.

• Partner with internal stakeholders (Originations, Credit, Capital Markets, Legal, Operations, and Asset Management as applicable) to align on timelines, information needs, and transaction requirements.

• Assist senior leaders with transaction analysis, presentation materials, and internal coordination to drive efficient execution.

• Maintain strong process discipline and documentation standards to support consistent underwriting quality and scalability.

Qualifications

• Real estate underwriting experience, with familiarity underwriting CRE loans and evaluating collateral and sponsor strength.

• Exposure to CMBS and or related CRE financing structures (direct lending and or warehouse finance).

• Strong analytical skills and attention to detail, with the ability to synthesize complex information into clear underwriting conclusions.

• Strong interpersonal skills and the ability to interact effectively with multiple internal stakeholders.

• Ability to manage multiple transactions simultaneously in a deadline-driven environment.

Education

• Bachelor’s degree required (Finance, Real Estate, Business, Economics, or a related field preferred).

• FINRA Certificates

Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. 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. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

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 at any time for any reason.

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:

We Value Your Impact:

Your contribution matters and it’s recognized.  You can expect a fair and competitive rewards package that reflects the impact you create and the value you deliver. We know rewards go beyond numbers.  Offering more than just a paycheck our benefits are designed to support you, your family and your well-being, now and into the future. Santander Benefits - 2026 Santander OnGoing/NH eGuide (foleon.com) 

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.