At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.
* Medical, dental and vision insurance * Retirement program (401k and Pension) * Generous PTO plan * 11 paid holidays per year * Hybrid working model (effective February 22, 2022) * Casual dress code
Who we are
FHLBank Chicago partners with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for their community investment activities. We are one of 11 Federal Home Loan Banks created by Congress in 1932 as a government sponsored enterprise to support mortgage lending and community investment. We are member owned and member focused. Our members include banks, credit unions, insurance companies and CDFIs.
What it's like to work here
At FHLBank Chicago, we bring people together. Our regular All-Staff meetings keep employees informed and our values drive the work that we do. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our Employee Value Proposition is honed by listening and identifying the needs and priorities of our valued employees. Through CommuniTeam, we volunteer and identify ways to strengthen our communities. Our Office of Diversity, Equity and Inclusion (DEI) hosts signature and employee-led events for continued learning; and Employee Resource Groups (ERGs) and culture clubs create connections around shared interests and experiences. We offer live and on-demand professional development opportunities to grow your skillset and your career.
What You'll do
In this role, you'll evaluate and monitor member collateral to secure all outstanding credit obligations. Daily responsibilities include department reporting, reconciliation and settlement of Bank and member transactions including pledges and releases for both loan and securities collateral, assisting internal (sales, front office, credit, accounting) and external (members) stakeholders with all department related inquiries.
How you'll make an impact:
Ensure that all inquiries from either internal or external stakeholders are responded to in a timely manner.
Supporting the team by completing daily tasks, improving process efficiencies, and being a team player who brings in positive energy.
Supporting the bank to create a more inclusive work environment.
What you can expect:
Learn to evaluate the collateral position of Members each time credit is extended or collateral is released. Assist in underwriting advance requests.
Learn and be responsible for reviewing and evaluating member's pledges, including residential and commercial mortgages and investment securities, for compliance and acceptability with policy.
Periodically analyze collateral positions of all members that have been extended credit through the use of data mining and analysis.
Responsible for all facets of pledging process, maintain pledge records and documents, resolve discrepancies, monitor exceptions, and reconcile accounts.
Transition members through changes in pledging terms commensurate with risk rating upgrades/downgrades.
Work with other creditors on collateral pledging arrangements that meet member's needs while maintaining the Bank's security interest.
Work with custodians to reconcile pledged assets for both loans and securities.
Manage member safekeeping accounts to assist with trade settlement, asset and income reconciliation.
Manage collateral positions resulting from member mergers or receivership
Manage daily derivatives collateral process including settling security and cash collateral position with 25+ counterparties.
What you'll bring:
Bachelor's Degree in Business/IT or related field
0-5 years of relevant experience
Finance/Derivatives industry experience a plus
MS Office Suite skills required
Experience with SQL or Tableau is a plus with data mining experience
Strong communication skills to a variety of audiences, in both written and oral format.
Willingness to work with others in a team environment.
Ability to prioritize, manage multiple responsibilities, and meet deadlines.
Strong work ethic.
Quantitative analytical skills and problem solving.
High degree of use of judgment to make appropriate decisions and recommendations.
At FHLBank Chicago, employees come first. 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 401K and Pension. Our generous PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year. We offer work from home options and a casual dress code at our beautiful new space in the Old Post Office. Step into your future with us.
FHLBank Chicago Maintains a Safe Work Environment With A Mandatory Vaccination Policy For All Employees.
We are committed to providing a safe work environment for all our employees. The FHLBank Chicago requires all employees, except those who may require accommodations under federal or state civil rights laws, to be fully vaccinated. #LI-Hybrid
The Federal Home Loan Bank of Chicago is a $100 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to support mortgage lending and community investment. Each FHLBank operates as an independent organization and is governed by a board of directors elected by its member institutions. As a cooperative, we provide reliable liquidity to our member banks, credit unions, insurance companies, and community development financial institutions located in Illinois and Wisconsin, focusing on the distinct needs of their individual businesses and communities.
We offer products and services to help our members fund loans and investments held in portfolio, manage liquidity, fund mortgages into the secondary market, secure third party agreements, and achieve asset liability management goals. Through our Community Investment and Affordable Housing programs, we also help our members to provide affordable housing and economic development in the communities they serve.
FHLBank Chicago is a place, where everyone can make a difference—both for our organization and for the communities we serve through our member financial institutions. We aim to create a diverse... and inclusive environment where employees are fully engaged and positioned to do their best work. Teamwork is valued, and even entry-level hires may find themselves working side-by-side with senior-level executives.