The Operations and Compliance Specialist coordinates member onboarding and product delivery by managing documentation such as lending agreements, mortgage purchase agreements, transactions agreements, account agreements, letters of credit, and authorization documentation. The Operations and Compliance Specialist provides guidance and support to members enabling them to utilize the Bank's services and online platforms, works closely with Bank leadership to understand and track negotiated terms, completes and files UCC financing statements in connection with the Bank's secured lending, facilitates execution of Inter-Creditor Agreements between the Bank and other lenders, and works together with internal stakeholders to accomplish initiatives that serve the Bank's members.
Essential Duties & Responsibilities:
Manage and process the flow of documentation in and out of the Bank.
Interact with members providing them with guidance on required documentation and execution.
Possess and exhibit a high degree of customer service to ensure positive member experience.
Coordinate and track negotiated terms; understand and communicate the impact of such customized agreements to the Bank and the member.
Partner with the Law Department to ensure that all documents are current and the appropriate versions are available to members and internal staff and to implement changes resulting from regulatory or legal development.
Collaborate with cross-functional teams to identify business risks and exposures, ensure compliance with federal regulations on an ongoing basis as well as in preparation for the implementation of new products and activities. Includes representing the Department in meetings and discussions.
Responsible for participating in a cross-functional team in Member Product Support Group on New Member Process, Member Bank Mergers and Liquidations to ensure member education and proper legal agreements are completed.
Diligently adhering to department and Bank policies, while also seeking out process improvements.
Develop and present key metrics.
Contribute to projects beyond the day-to-day.
Identify or escalate problems, collect data, establish facts, draw valid conclusions and participate in creating solutions
Integrate feedback from members and leadership into processes.
Administrative duties as assigned.
Experience & Educational Requirements:
0-5 years of operations or documentation experience.
Strong understanding and ability to read and interpret legal documents
Critical thinking and sound judgment
Driven to produce high output
Ability to interact with all levels of management
Internal Number: oHSS6fwh
About Federal Home Loan Bank of Chicago
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 t...he 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.