Director Market Risk & Analysis

About Us

At the Federal Home Loan Bank of Chicago, employees come first – that’s why we offer a highly competitive compensation and bonus package, and a comprehensive benefits program designed to support both work and personal lives.

FHLBank Chicago partners with members in Illinois and Wisconsin to provide competitively priced funding, a reasonable return on investment, and support for community investment activities. We are a bank for banks and other financial institutions, focused on strategic partnership and reinvestment in our communities both urban and rural.

• Manage market risk, including liquidity and income‑at‑risk oversight.
• Design and implement a market and income‑at‑risk management framework, ensuring sound governance, identification, assessment, and mitigation.
• Provide second‑line oversight, sophisticated analysis, and challenge on balance‑sheet, liquidity, and earnings risks to strengthen risk governance and financial resilience.
• Lead teams of model developers and analytics staff in model maintenance, calibration, performance monitoring, and controls for valuation, forecasting, and risk modelling.
• Sign off on new product implementations from a valuation, forecasting, and risk modelling perspective; oversee user acceptance testing.
• Prepare and present independent risk and attribution analyses to senior management and the board, and collaborate on scenarios, stress testing, and strategic planning.
• Develop and monitor key risk indicators and provide early warnings of potential issues.
• Act as the primary contact for regulators regarding market and income‑at‑risk matters.
• Deliver market‑risk training for the board and foster a culture of continuous learning.
• Lead process workflow automation and application modernization initiatives.

• 15+ years of experience in risk management, risk modelling, or fixed‑income capital markets.
• 5–10 years of mortgage finance or banking operations experience.
• 8+ years of management experience.
• Advanced degree in finance, mathematics, or science; FRM, CFA, or other designation preferred.
• Strong communication (verbal and written), analytical, strategic thinking, and initiative‑taking skills.
• Knowledge of fixed‑income products.

• Competitive compensation and bonus package.
• Retirement program (401(k) and pension plan).
• Medical, dental, and vision insurance.
• Lifestyle Spending Account.
• Competitive PTO: five weeks of vacation for new employees and 11 paid holidays per year.
• Remote flexibility with an allocation of remote days.
• Professional development support: mentorship programs, tuition reimbursement, and upskilling opportunities.

Salary range: $ – $ (based on experience and other job‑related factors).