Business Risk Management Analyst

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 an allocation of remote days to use as needed throughout the year What you'll do 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 Appropriateness & Transaction Support 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 Exception Tracking & Documentation 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 KRI & Risk Reporting 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 elevate 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 Governance, Controls & MPF Oversight Support 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 Cross-Functional & Audit Support 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 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. 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 $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. In addition to the base salary, we offer a comprehensive benefits package which can be found here: #J-18808-Ljbffr The Federal Home Loan Bank of Chicago