Lead Risk Analyst - Collateral Credit Risk

Risk Management Chicago, Illinois

Join the FHLBC team!

 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.

  • Medical, dental and vision insurance
  • Retirement program (401k and Pension)
  • Generous PTO plan
  • 10 paid holidays per year
  • Work from home options
  • Casual dress code

Position Summary:

The Lead Risk Analyst will have primary responsibility for a team tasked with measuring, monitoring, and analyzing historical trends and external factors impacting the credit risk exposure for securities and mortgage related products. These responsibilities include developing detailed analysis, utilizing sophisticated analytical and financial modeling and statistical techniques to predict, evaluate and manage the credit risk across various asset classes. The responsibilities of this role also include supporting legal negotiations from a credit perspective and supporting Bank systems and tools. The Lead Analyst role will be the point of communication with other Bank departments and is expected to coordinate with other departments on credit initiatives supporting long-term Investments and MPF.

Primary responsibilities include oversight for the following:

  • Leverage knowledge of security and loan markets, regulatory compliance, transaction structures, and mortgage underwriting to evaluate the credit risk of the Bank’s pledged collateral portfolio.
  • Develop and maintain the valuation framework and procedures around the collateral pledged to the Bank including benchmark studies, asset level loss analysis and the setting of asset specific haircuts.
  • Develop and maintain the analytics and risk assessment of whole loan collateral through the use of cash flow modeling and loan level characteristics examinations.
  • Monitor collateral valuation providers and ensure the reasonableness of their methodologies and practices.
  • Develop forward-looking analytics around fixed income securities and the mortgage market.
  • Independently manage the group’s regular processes around collateral valuation and monitoring ensuring accuracy and compliance with all internal and external requirements.
  • Develop coherent and succinct written support for Credit Department decisions.
  • Report to senior management and the Board on credit assessments and collateral.


  • Bachelor’s degree in Finance, Accounting, Management, Economics or other business-related discipline.  MBA or other Master’s level degree preferred.
  • 8-10 years experience in securities and/or mortgage analysis.
  • Exposure to secured lending and/or credit underwriting experience
  • Experience with database management and business intelligence software/tools

Knowledge, Skills, Abilities and Behaviors:

  • Excellent interpersonal communication skills (written, oral, and listening) are required.
  • Strong analytic abilities, including credit underwriting experience and the ability to manipulate large data sets
  • 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
  • Ability to learn quickly.
  • MS Office products
  • Programming experience preferred
  • Bloomberg experience preferred.