Manager Markets Credit

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Join to apply for the Manager Markets Credit role at Federal Home Loan Bank of Chicago

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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.

• Collaborative, in-office operating model
• Retirement program (401k and Pension)
• Medical, dental and vision insurance
• Lifestyle Spending Account
• Competitive PTO plan
• 11 paid holidays per year

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

The Manager of Markets Credit will be responsible for overseeing credit risk management of the Bank’s Mortgage Partnership Finance (MPF) and investment portfolio. This role leads a team of credit risk analysts in developing and maintaining mortgage credit models, performing scenario analysis and stress testing, and monitoring credit risk trends across the bank’s portfolio and the broader market. This position also collaborates closely with internal stakeholders, regulators and vendors to support product initiatives, ensure regulatory compliance, drive model enhancements and enable process innovation.

The ideal candidate is a strategic thinker with deep mortgage industry knowledge, strong analytical and modeling ability, and proven leadership experience.

How You'll Make An Impact

• Strengthen the Bank’s Credit Risk Management by leading the modeling and monitoring of risks across the MPF and Investment portfolios
• Enable strategic product and investment decisions by partnering with cross-functional teams to deliver high-impact analytics that support MPF and investment initiatives
• Drive operational excellence and innovation by leveraging advanced data analytics, automation, and emerging technologies

What You Can Expect

• Oversee the analysis and monitoring of credit risk trends and exposures associated with mortgage loan and investment portfolios
• Lead the development and ongoing maintenance of credit risk models – such as prepayment, default, and loss models – including assumption setting, model calibration and performance monitoring
• Design and enhance analytical models and risk management frameworks to assess the adequacy of credit enhancement
• Perform back-testing and benchmarking to evaluate model performance and make recommendations on modeling changes
• Direct scenario analysis and stress testing to assess portfolio risks under different macroeconomic scenarios
• Perform credit reviews of member institutions and mortgage servicers based on financial performance and credit worthiness
• Work with validators, auditors, and regulators to improve model accuracy and support regulatory compliance
• Drive process improvements by leveraging…