The Federal Home Loan Bank of Chicago is a $81.8 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to improve the availability of funds to support home ownership. The FHLB Chicago is a member-owned cooperative serving members in our district of Illinois and Wisconsin. All federally insured depository institutions, insurance companies engaged in residential housing finance, credit unions, and community development financial institutions located in our district are eligible to apply for membership. Today, the FHLBank System, which is regulated by the Federal Housing Finance Agency, has more than 7,200 members. The Compliance Analyst will be responsible for coordinating and/or performing Risk Management Group activities around documentation, related to compliance and other risk initiatives. In addition to assisting the Business Continuity Manager and the Model Risk Management Department, the Compliance Analyst will work with the rest of the Risk Management Group on other departmental initiatives as necessary. Primary Duties: Facilitate regular policy and procedure review to assure compliance, monitor implementation deliverables such as tools, templates, and reports. Detects and advises management of potential risk and may recommend changes and/or enhancements to improve efficiencies in procedures. Monitor and ensure the effective remediation of action plans for the Risk Management Group as issue coordinator in Metric Stream; assist Model Risk Management Department with input and tracking of findings and risk/control reporting. Responsible for the creation, coordination and/or retention of Risk Management Group documentation, including but not limited to oversight and Board committee materials, contracts, procedures, manuals, risk limits registry, testing results, security roles/permissions and other documentation as assigned. Build and recommend enhancements to the Risk Management Group and committee SharePoint site(s) and workflow tools. Responsible for coordinating the effective and efficient tracking of Model Risk Management Department documentation and compliance related activities such as model validations and reviews, inventory maintenance, performance monitoring, risk assessments, risk aggregation reporting and attestation/certification results. Responsible to maintain the review checklist and documentation between Internal Audit and model validator and provide clear and objective review notes. Coordinate regular updates and on-site visits for external validators and other consultants hired by Model Risk Management. Perform control testing and process audit, including SOX audits, operational process reviews and review of system implementations and applications Champion process re-engineering by challenging the status quo of current processes and suggesting improvements or alternatives Communicate with model owners on the importance of controls, an effective control environment Maintain Record Retention schedule and procedures and ensure accurate implementation. Responds to internal and external inquiries and requests for information whether from internal audit, FHFA, other departments within Risk Management Group, Legal or the SOX group. May recommend appropriate procedural changes. Responsible for the tracking of required compliance and regulatory related activity for the Risk Management Group. Demonstrate an understanding of business processes, policies and procedures, governance practices, and regulatory requirements. Attends seminars to maintain up-to-date knowledge of new issues and regulatory developments. Other duties as assigned. Requirements: Bachelor's Degree At least 3 years of prior audit, risk and/or compliance experience preferred Preferred knowledge of SharePoint, Metric Stream and Assurenet Must be able to learn and apply new technology quickly and accurately Intermediate to Advanced Microsoft Office Skills, including Power Point, Excel, Outlook, Word Highly organize
The Federal Home Loan Bank of Chicago is a $72.0 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to improve the availability of funds to support home ownership. The FHLB Chicago is a member-owned cooperative serving members in our district of Illinois and Wisconsin. All federally insured depository institutions, insurance companies engaged in residential ...housing finance, credit unions, and community development financial institutions located in our district are eligible to apply for membership. Today, the FHLB System, which is regulated by the Federal Housing Finance Agency, has more than 7,500 members.
The FHLB Chicago strives to be a valuable partner to our member financial institutions in Illinois and Wisconsin during all phases of financial and economic cycles. The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
The Federal Home Loan Bank of Chicago is committed to diversity at all levels of our organization from the employees we hire to the programs, institutions, and businesses we support. Our goal is to recruit, hire, and develop talented staff and to offer a work environment that allows them to do their best work.