REO Asset Manager

U.S. Bank • Saint Paul, MN

11d • Hybrid

About The Position

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.

Requirements

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

Nice To Haves

• 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.

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.

Benefits

• 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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level