Risk Analyst, Markets Credit

Who we are:

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

What it's like to work here:

At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided with an allocation of remote days to use as needed throughout the year.

What you'll do:

We are seeking a highly skilled and motivated Risk Analyst to join the Markets Credit Team. The Risk Analyst will be responsible for monitoring and analyzing the credit risk of the Bank's Mortgage Partnership Finance (MPF) and investment portfolio. The primary responsibilities of the role include operating mortgage credit risk models, monitoring model performance, conducting scenario analysis and stress testing, and providing support for model validation and examination. The responsibilities also include performing credit reviews and assessing credit risk trends of the bank's portfolio and the broader market. A successful candidate will have in-depth knowledge of economics, statistics, fixed-income products, mortgage markets and credit risk management.

How you'll make an impact:

• Drives informed decision-makingby transforming complex and ambiguous data into actionable insights that support the Bank's mortgage and investment strategies.

• Strengthens portfolio resiliencethrough proactive identification of emerging credit risks and scenario-based evaluations of market conditions.

• Accelerates strategic outcomesby partnering with cross-functional teams to deliver high-impact analytics that support MPF and investment initiatives.

What you can expect:

• Monitor and report credit risk trends and exposures associated with mortgage loan and investment portfolios.

• Operate and maintain credit risk models that predict prepayment, default and losses of mortgage loan portfolio.

• Support MPF program related processes and committee reporting.

• Perform backtesting and benchmarking to evaluate model performance and make recommendations on model calibration.

• Conduct scenario analysis and stress testing to assess portfolio risks under different macroeconomic scenarios.

• Perform credit reviews for member institutions and mortgage servicers based on financial performance and credit worthiness.

• Research, diagnose and identify solutions to issues on data anomalies and model runs

• Work with validators, auditors and regulators to support model accuracy and regulatory compliance.

• Optimize business processes through the use of data management and programing tools.

• Conduct ad-hoc analysis as needed

What you'll bring:

• 0 - 3 years of work experience in finance, data analytics or modeling, credit modeling preferred

• Experience with financial institutions preferred

• Experience with mortgage underwriting and servicing preferred

• Bachelor's degree in Mathematics, Finance, Economics, Statistics, Computer Science or a related field. Master's level degree desired.

• CFA and FRM candidates preferred

• SQL Server Management Studio

• Python/R

• Tableau/Alteryx

• Basic understanding in fixed income, mortgage market and credit risk management

• Detail-oriented, able to manage multiple timeline

• Knowledge and experience in predictive modeling

• Ability to collect, process and analyze large datasets

• Solid skills in data analysis and visualization techniques to effectively analyze and communicate risk assessments

• High degree of attention to detail, self-motivation and professionalism

• Strong problem-solving and analytical skills

• Strong verbal and written communication skills

• Ability to collaborate with peers and stakeholders in a team environment

The perks:

At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Step into a brighter future with us.

Salary Range:

The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc