REO Asset Manager

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The REO Asset Manager is responsible for managing a portfolio of Real Estate Owned (REO) properties acquired through the foreclosure process. This role oversees the complete asset lifecycle from acquisition through final disposition, ensuring properties are maintained, marketed, and sold efficiently while maximizing recovery value and minimizing loss exposure.

The position requires strong decision-making, vendor management, project coordination, and analytical skills. The successful candidate will work closely with internal business partners, third-party vendors, real estate professionals, legal teams, and finance partners to support property disposition strategies and achieve portfolio performance goals.

Key Responsibilities

• Manage a portfolio of REO and post-sale properties from acquisition through sale and closing.
• Develop and execute disposition strategies designed to maximize recovery and reduce property hold times.
• Coordinate property inspections, valuations, broker price opinions (BPOs), appraisals, repairs, preservation activities, occupancy management, and evictions when necessary.
• Review and approve vendor bids, repair expenditures, preservation requests, clean-out activities, and utility management services.
• Monitor vendor performance, ensure service-level expectations are met, and hold vendors accountable for quality, timelines, and results.
• Establish listing strategies, evaluate offers, determine pricing recommendations, and manage auction reserve decisions.
• Partner with Finance to monitor, forecast, and analyze property gain/loss performance and financial outcomes.
• Conduct research, analysis, and reporting to support business objectives, process improvements, and portfolio management decisions.
• Collaborate with cross-functional partners including Property Preservation, Legal, Finance, Special Assets, Closing, Audit, and Auction Program teams.
• Maintain compliance with applicable investor, regulatory, and company requirements throughout the asset management process.

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• Three to five years of experience in project management activities

Preferred Skills/Experience

• Experience managing REO portfolios or default servicing operations.
• Knowledge of foreclosure, liquidation, property preservation, title, valuation, and disposition processes.
• Experience coordinating and managing third-party vendors and service providers.
• Strong analytical and problem-solving skills with the ability to make independent business decisions.
• Effective negotiation, communication, and stakeholder management skills.
• Ability to prioritize competing demands and manage a high-volume workload.
• Advanced organizational skills and attention to detail.
• Intermediate to advanced Microsoft Excel skills, including reporting, pivot tables, and data analysis.
• Demonstrated ability to work independently in a fast-paced, results-oriented environment.
• The role offers a hybrid schedule, which means there's an in-office expectation of 3 or more days per week at one of the posted hub locations.**

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable…