The Federal Home Loan Bank of Chicago is seeking a driven, organized, and highly analytical Sr. Risk Analyst to join its Mortgage Partnership Finance (MPF) Analytics Group. The group takes on a diverse role, supporting the Federal Home Loan Bank's secondary mortgage business through robust risk oversight, exposure monitoring, portfolio performance analytics, and credit loss modeling for the Program's $50 billion portfolio of residential mortgages. While areas of focus will be diverse in support of strategic, risk, and operational initiatives of the business, key responsibilities for the position will center around portfolio credit risk oversight, loss forecasting, stress testing, and model risk management in accordance with business risk appetite regulations.
As a member of the MPF Mortgage Analytics team, participates in the effort to support the MPF Program through credit, counterparty, and operational risk oversight, management of key Program models, and production of high quality strategic and analytical reporting and ad hoc deliverables.
Responsible for overseeing the effort to manage, monitor, benchmark, and back test key models that support Program risk management oversight. In scope are models and methodologies used to forecast credit losses, manage customer performance, and ensure compliance with regulatory standards and risk management best practices. Role will involve close engagement with external Program stakeholders, Model Risk and Enterprise Risk teams to ensure effective communication related to model results, performance, process, and documentation.
Analyzes the volumes, quality, risk profile, and performance of the Bank's whole loan mortgage portfolio for internal management, Program investors, and external agencies (i.e. Office of Finance, Federal Housing Finance Agency, SEC reporting). Key area of focus on credit risk oversight and ensuring compliance with credit risk sharing requirements of the Program (i.e. seller recourse agreements).
Assists in team-wide initiative to continue build out of automation of key risk monitoring processes. Significant use of tools to aggregate and analyze large and complex data structures (SQL, business intelligence tools) will be a required core competency.
Conducts independent market research and develops methodologies to benchmark, back test, and support in validation of key program models. Develop statistical analysis and predictive modeling to support business initiatives and model oversight.
Assist in other new business-initiatives, including strategic analysis, market research/sales support, and profitability drivers.
Encourages teamwork, professionalism and high morale, throughout the department and the Bank.
Creates efficiencies within work tasks to eliminate or reduce manual processes.
A qualified candidate will possess at least 5 years of experience in a highly analytical role, preferably within the financial services industry. The individual will have significant experience and a high level of comfort organizing, consuming, and analyzing large and complex data with a proven ability to present and communicate findings. A high level of organization and proven ability to consistently meet deadlines is necessary. A high level of proficiency with coding languages (SQL, SAS, VBA) and experience with Microsoft software suite (Excel, Access) is required. Experience executing and producing work product in a role focused on predicative analytics or statistical modeling development or validation is preferred. Experience analyzing credit risk of mortgage related assets (whole loan portfolio or MBS) a plus. Experience with Business Intelligence tools, such as Tableau, is a plus.
Knowledge, Skills, Abilities and Behaviors:
Bachelor's degree with an emphasis in finance, economics, data science, or mathematics or the equivalent work experience, is strongly preferred.
Ability to work independently, accurately, and to meet deadlines. Strong interpersonal skills with the ability to communicate effectively with both internal and external clients and industry professionals.
Candidate must be motivated to learn and succeed in a demanding environment that requires developing and executing solutions to complex challenges. This is not the role for a hands-off or higher level contributor – candidate must have a genuine interest in being close to details and data and should expect to be challenged with delivering high quality data driven solutions and work product independently.
Candidate must work well in a team environment and maintain focus on the success of critical business goals.
Internal Number: ojgF7fw5
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.