Manager Credit Risk Analysis

The Federal Home Loan Bank of Chicago; Chicago (IL); On-site; USD 125,825 - 221,275; Full time

Benefits offered by this job

401(k) plan

Pension plan

Medical insurance

Dental insurance

Vision insurance

Lifestyle Spending Account

Five weeks PTO (vacation)

11 paid holidays

Job summary

The Federal Home Loan Bank of Chicago is seeking a Manager, Credit Analysis to lead a two-analyst team overseeing depository and CDFI credit. You will support risk models, set underwriting standards, and work with relationship managers on risk mitigation.

Ideal candidates have 5–10 years in credit underwriting, strong data analysis skills, and MBA or related masters are preferred. This is an in-office role in Chicago with opportunities for professional growth.

Qualifications

• Bachelor's degree in Finance, Accounting, Management, Economics or related field; MBA preferred.
• 5–10 years of experience in credit underwriting of financial institutions.
• Strong communication skills and ability to analyze large data sets.
• Ability to work in a team-based environment with initiative.

Responsibilities

• Manage and oversee the depository and CDFI credit team with two analysts.
• Support mission-critical models for depositories and related policies.
• Perform quarterly credit analysis and determine risk ratings.
• Develop and implement credit underwriting standards for borrowers.
• Collaborate with Relationship Managers and borrowers on risk mitigation.

Skills

Credit underwriting

Interpersonal communication

Data analysis

Modeling

Team collaboration

Education

Bachelor's degree in Finance/Accounting/Economics

MBA or Master's preferred

Tools

Tableau

VBA

R

S&P CapIQ

Bloomberg

Job description

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, Credit Analysis will have primary responsibility for management and oversight of the depository and CDFI credit team. The team consists of two additional analysts and is responsible for the credit requirements related to the Bank's depository and CDFI members. Responsibilities include the support of the Bank's mission critical models for depositories and all associated policies and processes.

How you’ll make an impact

• Closes a critical management gap in depository/CDFI credit risk oversight, enabling faster risk rating decisions and stronger analyst development across a 445-bank, 103-credit union, 9-CDFI portfolio.
• Frees senior leadership capacity for board, regulatory, and strategic priorities by shifting day-to-day team management and brief oversight to a dedicated manager.
• Strengthens succession and bench depth, pairing an experienced SME manager with existing analysts to accelerate their leadership readiness.

What you can expect

• Management responsibilities of a team of two credit analysts which includes priority setting, skill development and performance management.
• Perform analysis on and recommend approval for new and/or continuing borrowers.
• Lead team through quarterly credit analysis and risk rating of borrowers.
• Recommend credit and collateral terms for depositories and CDFIs.
• Work with Relationship Managers and borrowers on risk mitigation strategies and structures.
• Develop and manage internal models for assessing credit risk and assigning risk ratings.
• Develop and implement credit underwriting standards for borrowers.
• Monitor economic trends and regulatory developments and their impact on borrowers.
• Report to regulators, senior management, and Credit Committee.
• Work with IT on credit systems and with other teams in the Bank on strategic projects.
• Provide active management and thought leadership to your immediate team to aide in their development in credit underwriting, analytic skills and leadership development.
• Surveillance of existing depository and CDFI members for material changes in credit quality.
• Analyze the creditworthiness of financial institutions that pose an elevated credit risk to the Bank and make appropriate recommendations.
• Maintain and develop credit models to support the analytics regime supporting the Credit risk rating process.
• Foster collaborative relationship with our Sales team to support of our financial institution members and counterparties.

What you’ll bring

• Bachelor's degree in Finance, Accounting, Management, Economics or other business-related discipline. MBA or other Master's level degree preferred.
• 5-10 years of experience in credit underwriting of financial institutions.
• Excellent interpersonal communication skills (written, oral, and listening) are required.
• Strong analytic abilities, including credit underwriting experience, the ability to manipulate large data sets, and robust modeling skills.
• At ease working within a team-based environment.
• Time management and an ability to display initiative are necessary.
• Must be self-directed with high energy level.
• MS Office products.
• Tableau, VBA, R, S&P CapIQ, and Bloomberg experience is a preferred.

The Perks

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. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.

Salary Range:

$125,825.00 - $221,275.00

The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc