Business Risk Management Analyst

At FHLBank Chicago, we prioritize our employees by offering a highly competitive compensation and bonus package, along with access to a comprehensive benefits program designed to meet their needs. Our collaborative, in-office operating model fosters innovation, connection, and shared success.

About Us

Our mission at FHLBank Chicago is to partner with our members in Illinois and Wisconsin to provide competitively priced funding, a reasonable return on their investment, and support for their community investment activities. We are a bank for banks and other financial institutions, focused on being a strategic partner to reinvest in communities across urban and rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, a government-sponsored enterprise supporting mortgage lending and community investment.

We are committed to a high-performing, engaged workforce and to supporting the communities we serve. Our Buddy Program pairs new hires with tenured employees to guide their onboarding, and we offer professional development opportunities through upskilling, mentorship programs, and tuition reimbursement. To support work-life balance, employees receive an allocation of remote days to use as needed throughout the year.

Responsibilities

• Perform initial appropriateness reviews of member transactions and solution designs against the established framework, flagging items for Manager review.
• Conduct and/or compile supporting analysis and document rationale for suitability determinations.
• Maintain and refine appropriateness checklists, templates, and supporting procedures.
• Maintain the first-line exception log, tracking status, aging, conditions, approvals, and remediation.
• Prepare clear exception write-ups and ensure documentation is complete and audit-ready.
• Follow up with stakeholders to keep open items moving toward resolution.
• Gather data and produce recurring KRI and first-line risk reports on schedule.
• Perform exposure and trend analysis and support ad hoc risk analytics.
• Design and maintain dashboard reporting to support risk analysis and monitoring.
• Identify and escalate potential risk concerns, reporting anomalies, limit or risk appetite breaches, and aging exceptions to the Manager in a timely manner.
• Help translate risk data into clear, accurate reporting for the Manager and stakeholders.
• Maintain control inventories, policy and procedure documentation, and evidence repositories.
• Support first-line oversight of 7th District MPF activity through data gathering, monitoring, and reporting.
• Ensure first-line records are organized, current, and readily retrievable.
• Assist in responding to Second Line of Defense, Internal Audit, and regulatory requests with timely, accurate documentation.
• Coordinate with Solutions, Sales, and Sales Operations to gather information, resolve follow-up items, and support consistent execution of first-line risk activities.
• Contribute to process improvements that increase the accuracy and efficiency of first-line activities.

Impact

• Help build and shape a growing first-line risk management function that plays a critical role in supporting the Bank's member-facing businesses and strategic objectives.
• Turn data into insights by analyzing risk trends, developing reporting solutions, and helping leadership make informed decisions.
• Influence sound business decisions and risk disciplines while partnering with stakeholders across the first, second, and third lines of defense.

Requirements

• Bachelor’s degree in Finance, Economics, Statistics, Business Analytics, Risk Management, or a related field. Advanced degree or relevant professional certification (FRM, CFA, PRM, CERP) is a plus.
• 1-3 years of experience in risk, controls, audit, compliance, operations, or analytics at a financial institution; relevant internships and rotational experience will be considered.
• Strong data and analytical skills, including proficiency in Excel; familiarity with SQL, Tableau, or Databricks is a plus.
• Exposure to risk frameworks, controls, or the MPF program is a plus.
• Demonstrated ability to manage recurring deliverables accurately and on deadline.
• Solid analytical and documentation skills, with strong attention to detail and accuracy.
• Foundational risk fundamentals, including familiarity with KRIs and exposure analysis.
• Developing regulatory awareness, including an understanding of the three-lines-of-defense model.
• Highly organized, with the ability to manage multiple recurring deliverables to deadline.
• Exceptional written and verbal communication skills.
• Collaborative and dependable, able to partner credibly across functions.
• Comfort working with data and reporting tools; Excel required, with SQL, Tableau, or Databricks a plus.

Benefits

• Retirement program (401k and Pension).
• Medical, dental, and vision insurance.
• Lifestyle Spending Account.
• Competitive PTO plan providing five weeks of vacation for new employees.
• 11 paid holidays per year.
• Central downtown location at the Old Post Office with easy access to public transportation and award-winning rooftop views.
• Professional development opportunities through upskilling, mentorship programs, and tuition reimbursement.
• Buddy Program for new hires.
• Allocation of remote days to use as needed throughout the year.

Pay

Salary Range: $75,325.00 - $125,500.00. 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.