Sr. Risk & Compliance Manager - Community Investment
Federal Home Loan Bank of Chicago
December 24, 2017
POSITION SUMMARY: The Sr. Risk & Compliance Manager is responsible for providing accurate & timely measurement, analysis, monitoring, and reporting of operational and compliance risk for Community Investment. This position also monitors the Bank's implementation of risk management policies and procedures and provides advice and support to business line management on risk management; assists with the development, analysis, and implementation of departmental reengineering projects. The Sr. Risk & Compliance Manager acts as the ambassador of the risk culture, by challenging, advising and partnering closely with the businesses, risk, control, regulatory, and support functions to actively manage day to day operational risk. The Sr. Risk & Compliance Manager is an adaptive role that combines risk and compliance functions with project management. The role will be responsible for seeking new areas for improvement and efficiency and will be a supportive role for Community Investment Management. ESSENTIAL DUTIES & RESPONSIBILITIES: Work with management to identify risk issues and propose effective solutions Review, maintain, and test risk/control structure; identify opportunities to improve controls and reduce risk by proposing procedure and/or control changes Maintain meaningful and sustainable risk and performance reporting (key risk/performance indicator metrics) and monitor thresholds for exceptions Facilitate annual RCSA, policy and procedure review, regulatory requirements; monitor implementation deliverables such as tools, templates, and reports for ensuring compliance Prepare and review operational risk events, work with appropriate parties to determine root causes and ensure appropriate actions are taken to mitigate control weaknesses; analyze event criteria to determine appropriate guidelines based on business risks Coordinate regulatory exams and internal/external audits and work with management to respond; monitor and ensure the effective remediation of action plans Implement risk and security standards as per Bank policy and ensure compliance Maintain Record Retention schedule and procedures, ensure accurate implementation Develop tools and systems to enhance efficiency for risk and compliance activities Monitor and manage changes to the role based security architecture of the department Develop, manage, and maintain source material and train staff on: Business Continuity, AML/BSA, Event Escalation, Risks and Controls, and other initiatives Present to committees and Senior Management (incl. the Executive Team and AHC) EXPERIENCE & EDUCATIONAL REQUIREMENTS: 5-7 years experience in a bank or other financial institution. Risk / Compliance / Audit experience Mortgage and/or Affordable Housing experience a plus. Bachelor's degree in Business, Finance, Accounting, or related field. SOFTWARE REQUIREMENTS MS Office (strong skills in Excel, Access, and PowerPoint a plus) Intermediate-level skills in SharePoint and MetricStream a plus.
The Federal Home Loan Bank of Chicago is a $72.0 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to improve the availability of funds to support home ownership. The FHLB Chicago is a member-owned cooperative serving members in our district of Illinois and Wisconsin. All federally insured depository institutions, insurance companies engaged in residential ...housing finance, credit unions, and community development financial institutions located in our district are eligible to apply for membership. Today, the FHLB System, which is regulated by the Federal Housing Finance Agency, has more than 7,500 members.
The FHLB Chicago strives to be a valuable partner to our member financial institutions in Illinois and Wisconsin during all phases of financial and economic cycles. The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
The Federal Home Loan Bank of Chicago is committed to diversity at all levels of our organization from the employees we hire to the programs, institutions, and businesses we support. Our goal is to recruit, hire, and develop talented staff and to offer a work environment that allows them to do their best work.