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Business Risk Management Analyst

Job in Chicago, Cook County, Illinois, 60601, USA
Listing for: FHLBank Chicago
Full Time position
Listed on 2026-08-21
Job specializations:
  • Finance & Banking
    Risk Manager/Analyst, Financial Compliance, Financial Analyst
Job Description & How to Apply Below

Analyst, Business Risk Management (BRM)

The Analyst, Business Risk Management (BRM) supports the Bank's first-line risk function within the member-facing business, assisting with appropriateness reviews, exception tracking, governance and controls documentation, key risk indicator (KRI) reporting, and 7th District Mortgage Partnership Finance® (MPF®) oversight. Working under the Sr. Manager, Business Risk Management, the Analyst performs the day-to-day analytical, reporting, and documentation activities that help ensure first-line risk management practices are disciplined, timely, well controlled, and audit-ready.

This is a hands-on analytical role for someone who is detail-oriented, organized, and comfortable working with data, documentation, and cross-functional partners. The Analyst will build durable first-line risk skills while supporting a function that is central to the Bank's control environment.

This position sits within the Member Financial Strategies group, reports to the Sr. Manager, Business Risk Management, and partners with Solutions, Sales, Sales Operations, Risk Management, Compliance, and Internal Audit.

How you'll make an 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.

What you can expect:

  • 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
  • Help 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, 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
  • Help 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 fist-line risk activities
  • Contribute to process improvements that increase the accuracy and efficiency of first-line activities

What you'll bring:

  • 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…
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