Federal Home Loan Bank of Chicago - Chicago, IL

posted 2 months ago

Full-time - Mid Level
Hybrid - Chicago, IL
Credit Intermediation and Related Activities

About the position

The Federal Home Loan Bank of Chicago is seeking a pivotal member for its enterprise risk management team, focusing on operational risk and compliance. This role involves providing guidance on regulatory compliance for mission programs and housing products, supporting external customer-facing business units, and acting as a subject matter expert on fair housing and fair lending laws. The position emphasizes innovative thinking and the ability to influence decision-making on fair lending practices.

Responsibilities

  • Support operational risk and compliance teams by providing guidance on regulatory compliance aspects of mission programs and housing products.
  • Provide ongoing compliance advice and facilitate periodic fair lending risk assessments.
  • Review mission programs and housing products from a regulatory compliance perspective.
  • Interface with members, regulatory agencies, and key stakeholders to influence decision-making on fair lending practices.
  • Perform periodic fair lending risk assessments, including enterprise-level and pilot program assessments.
  • Stay informed about changes in fair lending regulations and communicate updates to relevant stakeholders.
  • Advocate for the Bank's fair lending and UDAP compliance initiatives during regulatory meetings and discussions.
  • Assist in performing gap analyses and implementing new regulatory guidance across the Bank.
  • Review and provide guidance on the mission framework, including policies and marketing plans.
  • Monitor fair lending compliance and reporting, addressing gaps in bank-wide activities.
  • Evaluate remediation plans related to fair lending and provide credible challenge.
  • Promote a culture of compliance and participate in solutions to address identified gaps.
  • Advise business units on the development of compliance controls and partner with operational risk and compliance units.

Requirements

  • Bachelor's degree in finance, economics, risk management, or a related field.
  • 8-12 years of work experience in compliance management, focusing on fair housing and fair lending.
  • Minimum of 5-8 years of specialized experience in fair lending compliance or prior experience as a regulatory examiner.
  • Comprehensive knowledge of key fair lending laws and regulations, including ECOA, FHA, HMDA, and CRA.
  • Experience in developing and executing fair lending programs.
  • Familiarity with data reporting and analytics related to fair lending.
  • MS Office products proficiency (Excel, Outlook, PowerPoint, Word); Tableau preferred.
  • Strong problem-solving and decision-making abilities.

Nice-to-haves

  • Certified Regulatory Compliance Manager (CRCM) or similar certification preferred.
  • Regulatory affairs experience, particularly with agencies like CFPB or FHFA, is a plus.
  • Experience mentoring peers and teammates.

Benefits

  • Highly competitive compensation and bonus package.
  • Retirement program including 401(k) and pension plan.
  • Medical, dental, and vision insurance.
  • Generous PTO plan providing five weeks of vacation and 11 paid holidays per year.
  • Lifestyle Spending Account for wellbeing activities.
  • Hybrid working model.
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