CFO Corporate Real Estate

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 CFO, Corporate Real Estate (CRE) is the senior finance leader accountable for the financial strategy, planning, and analytics of one of the largest and most strategically important physical footprints in U.S. banking - a nationwide portfolio spanning bank branches, office hub locations, and a broad network of client centers and ancillary sites. Partnering directly with the Head of Corporate Real Estate, this role shapes the bank's go-forward footprint by translating workforce strategy, location choices, and operating model shifts into clear, defensible financial tradeoffs. It works in close partnership with Corporate Treasury and Corporate Accounting to ensure disciplined capital and lease decisioning, balance sheet and P&L integrity, and strong financial governance.

This is a build-and-transform mandate, not a caretaker role. The organization is executing a multi-year strategic real estate plan that encompasses branch network transformation - relocations, renovations, and de novo builds - alongside a restructuring of the corporate office footprint into strategic hubs. The CFO, Corporate Real Estate is the financial architect behind this strategy, modeling the full economics of every major decision and translating complex real estate and workforce trade-offs into recommendations the most senior audiences in the company can act on with confidence.

What You'll Drive

• Enterprise footprint strategy and scenario decisioning (hub/non-hub mix, consolidations, exits, renewals; owned vs. leased; flex/hybrid models) and branch network transformation.
• Portfolio performance management, forecasting, and value realization across the CRE portfolio.
• Investment discipline for major CRE initiatives through ROI/NPV/IRR/payback-based decision frameworks.
• Total-cost-of-location and transaction economics that integrate occupancy, capital, tax, and workforce trade-offs into a single decision framework.
• Alignment of real estate choices to corporate strategy, cost resilience, talent access, operational continuity, and risk posture.
• A high-impact finance team oriented to insight, influence, and execution.

Essential Responsibilities

• Strategic Partnership & Influence: Serve as the primary strategic finance partner to the Head of Corporate Real Estate, embedded in strategy development from inception rather than reviewing decisions after the fact. Deliver executive-ready narratives that simplify complex tradeoffs, and present real estate strategy and multi-year financial impact to the CEO, CFO, and Board-level committees with clarity and credibility.
• Go-Forward Footprint Decisioning: Lead multi-year footprint planning and own the financial modeling behind the strategic real estate plan - branch relocations, renovations, de novo builds, and consolidation of the corporate office footprint into strategic hubs. Build and maintain a dynamic, site-level portfolio model that supports rapid scenario analysis across occupancy, capital, tax, and workforce dimensions, and model economics for consolidations (lease buyouts, early termination, sublease recovery, and stranded-cost provisions). Quantify P&L, cash flow, and balance sheet impacts for major footprint actions and establish clear decision thresholds.
• Total-Cost-of-Location Analysis: Lead total-cost-of-location analysis for new sites, integrating occupancy, long-term labor and benefits costs, workforce transition economics, and tax considerations into a single, defensible decision framework.
• Portfolio Economics, Capital & Transaction Strategy: Own the financial evaluation of real estate investments and commitments, including sensitivity analysis on key assumptions. Evaluate and structure real estate transactions - sale-leasebacks, build-to-suit leases, ground leases, developer joint ventures, and owned development - with a clear view of after-tax NPV, balance sheet, and regulatory capital implications. Drive real estate tax strategy, including property tax appeals, PILOT agreements, economic incentives, and abatements for hub locations and new builds. Partner with Treasury on funding and capital implications and with Corporate Accounting on lease accounting (e.g., ASC 842), controls, and reporting integrity.
• Analytics, Forecasting & Performance Management: Build and run core analytics (utilization, demand, cost per seat, run vs. change spend) to enable proactive portfolio decisions. Establish operating and performance metrics that drive efficiency, effectiveness, and accountability across the CRE portfolio, linking outcomes to cost, utilization, and strategic objectives. Own forecasting and performance reviews, surfacing variance drivers and leading indicators to drive action.
• Governance, Risk & Leadership: Maintain strong financial governance, risk management, and audit readiness across the CRE portfolio. Partner with HR/People Analytics, Tax, Accounting, and the lines of business to ensure workforce, tax, and accounting inputs are rigorous and defensible. Lead, develop, and retain a high-performing finance team spanning FP&A, transaction support, capital planning, and lease accounting, with a strong partnership mindset.

Preferred Skills/Qualifications

• 15+ years of progressive finance experience, including 5+ years as a divisional or functional CFO or senior finance leader, ideally managing an expense base or P&L of $500M+.
• Deep expertise in corporate real estate finance - occupancy accounting, lease-versus-own analysis, capital planning, and depreciation modeling.
• Command of ASC 842 lease accounting, sale-leasebacks, build-to-suit transactions, and related structures.
• Strong capital allocation discipline - NPV, IRR, payback, and real-options thinking applied to multi-year, multi-site portfolios.
• Demonstrated experience supporting a large, geographically distributed footprint (1,000+ locations) in banking, retail, or a comparable multi-site industry.
• Proven ability to build total-cost-of-location models that integrate real estate, labor, benefits, tax, and transition costs.
• Experience partnering with Treasury and Accounting on balance sheet, lease, and reporting implications.
• Advanced financial modeling skills and the ability to translate complex economics into concise, executive-level narratives.
• Track record of building and leading finance teams and partnering effectively with senior business leaders.
• Experience leading or co-leading a major real estate portfolio rationalization or office consolidation - from business case through execution.
• Familiarity with banking-specific considerations, including CRA implications of branch changes, regulatory approval processes, and how occupancy expense flows through the efficiency ratio.
• Experience negotiating economic incentive and abatement packages, and structuring novel real estate finance vehicles.
• Fluency with real estate technology and BI platforms (e.g., Tririga, Manhattan, CoStar, Lucernex, Power BI, Tableau).
• Experience presenting to ALCO, board real estate committees, or equivalent governance bodies.

Measures of Success

Within the first year, this leader will have established a trusted partnership with the Head of Corporate Real Estate, stood up a credible and reusable portfolio and location-economics modeling capability, and become the go-to financial voice on the strategic real estate plan for senior leadership. Success is measured not by expense management alone, but by the quality of the strategic decisions this executive helps the organization make - and the discipline, transparency, and honesty they bring to the financial case behind them.

• Clear, data-backed recommendations that materially improve footprint economics, efficiency, and flexibility.
• Improved forecast accuracy and faster decision cycles for footprint and investment decisions.
• Portfolio operating metrics that enable real estate to be run as a business, with transparent performance and accountability.
• Disciplined capital and lease decisioning with strong controls and accounting alignment.

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 law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $194,225.00 - $228,500.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.