Risk Analyst Income Simulation

Job Title

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.

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

In this role you will interact with stakeholders across the organization, such as business development and balance sheet management teams, to model the future income of the Bank. Key responsibilities include overseeing, monitoring, and reporting on the Bank's income forecast, retained earnings growth, dividend ability and balance sheet compliance. You will perform income at risk modeling and analysis, limits monitoring and reporting.

How you'll make an impact

• Enable strategic decision-making by delivering robust income at risk modeling, forecasting, and scenario analysis to support the Bank's balance sheet strategy and CFO-led planning processes.
• Strengthen financial resilience and risk oversight by monitoring income forecasts, retained earnings, and risk exposures, ensuring alignment with regulatory expectations and management objectives.
• Drive cross-functional insights and process efficiency by partnering with business units to refine assumptions, evaluate new products and hedging strategies, and improve forecasting and modeling processes.

What you can expect

• Support income forecasting and risk analysis processes, to model the Bank's income at risk, risk exposures and sensitivity to each.
• Lead the preparation and development of reporting and presentation for various internal committees and Board meetings.
• Collaborate with business units to understand and refresh assumptions on future member activity and investment capacity.
• Support the CFO in the annual Strategic Planning process by incorporating additional risk/stress scenarios in the income forecast process and risk analysis framework.
• Collaborate with internal stakeholder on modelling changes and version upgrades to implement changes and assess income impact.
• Collaborate with other departments on new product development, new investment consideration and hedge strategy implementation to assess income impact.
• Assist in process re-engineering, model documentation and EUC(End-User Computing) maintenance
• Other duties as assigned.

What you'll bring

• 3-5 years of experience in ALM, risk management, risk modeling or fixed income capital markets.
• Bachelor's degree in Accounting or a quantitative field (Mathematical Finance, Computational Finance, Computer Science, Finance, Statistics, and Mathematics). Master's degree preferred.
• A designation of CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager) is a plus.
• Strong written and verbal communication skills, including the ability to convey complex concepts.
• Detail oriented, with strong problem-solving abilities and quantitative/analytical skills.
• The ability to self-manage and work on multiple deliverables concurrently.
• Proficient in Microsoft Office products such as Excel, PowerPoint, and Word.
• Knowledge of VBA and one other programming language (Python, R) is a PLUS
• Asset/Liability Management experience and exposure to fixed income securities and derivatives

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