Manager Markets Credit

Manager Of Markets Credit

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.

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.

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.

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.

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

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 advanced data management, automation and programing tools

Build strong and trustworthy partnerships with internal teams (business, operation, finance, legal, model risk, etc.) and external stakeholders (regulators, vendors, etc.)

Bachelor's degree in Mathematics, Finance, Economics, Statistics, Computer Science, or related fields; Master's level degree desired.

CFA and FRM candidates preferred

5+ years of work experience in finance, data analytics or modeling

2+ years of people managing experience

Experience with mortgage underwriting and servicing desired

Experience with building predictive statistical models and developing algorithmic solutions desired

Proficiency in SQL Server Management Studio, Python and R

Experience with Business Intelligence tools including Tableau and Alteryx

Deep understanding of mortgage industry, fixed income investment, credit risk management, and statistical models

Strong expertise in credit risk modeling, including statistical analysis, predictive models, and performance monitoring

Proficiency in data analysis and business intelligence tools to effectively assess and communicate risk insights

Familiarity with model governance, regulatory compliance, and risk management frameworks

Ability to lead and develop high-performing analytical teams, including coaching, prioritization, and performance management

Strong critical thinking skills and ability to synthesize complex analytical findings into clear and actionable recommendations

Excellent problem-solving, analytical, verbal / written communication skills

Effective leader with a collaborative approach and strong stakeholder management abilities

At FHLBank Chicago, we believe in rewarding our high performing workforce. 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 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives : Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Step into a brighter future with us.

Salary Range : $125,825.00 - $221,275.00