Federal Home Loan Bank of Chicago · 2 days ago
Depository Risk Analyst
Chicago, IL
Full-time
Hybrid
Entry, Mid Level
$75K/yr - $126K/yr
1+ years expFederal Home Loan Bank of Chicago is a government-sponsored bank focused on providing funding and support to financial institutions in Illinois and Wisconsin. The Depository Risk Analyst will develop and maintain credit risk models, perform credit analysis, and contribute to risk management strategies within the organization.
Banking
Responsibilities
Develop and maintain advanced credit risk models using statistical and econometric techniques to assess member risk profiles, including banks, credit unions, and insurance companies
Design, implement, and enhance models in R (and/or Python) for credit risk measurement, stress testing, benchmarking, and scenario analysis, ensuring compliance with regulatory and internal standards
Leverage Databricks and other cloud-based platforms to process and analyze large-scale financial datasets efficiently, integrating structured and unstructured data sources
Perform data mining, statistical analysis, and predictive modeling to identify trends, correlations, and emerging risks within member portfolios
Automate recurring analytics and controls (e.g., score recalcs, risk rating refreshes, sensitivity checks) using R, SQL, and VBA where appropriate
Conduct statistical analysis and portfolio diagnostics (trend analysis, correlations, concentration, PD inputs where applicable)
Develop clear visualizations and dashboards to communicate model insights and portfolio risk to senior stakeholders
Monitor model performance and drift; propose recalibration or redevelopment based on statistical evidence and business need
Stay current on credit risk modeling practices and regulatory expectations relevant to depository institutions
Perform credit analysis and risk ratings for depository members, including quarterly reviews and ongoing monitoring of financial condition and liquidity/funding profiles
Analyze and recommend approval for new and/or continuing borrowers, aligned with credit policy and risk appetite
Recommend credit and collateral terms for banks and credit unions, incorporating appropriate structures and risk mitigants
Partner with Relationship Managers and borrowers to structure transactions and address risk considerations
Develop, refine, and support credit underwriting standards for depository institutions to ensure consistency and regulatory alignment
Monitor macroeconomic and regulatory developments and assess their impact on member creditworthiness
Prepare and deliver reports and presentations to senior management, regulators, and the Credit Committee
Contribute to credit risk policy updates and cross-functional strategic projects
Identify and implement process improvements to reduce manual work and enhance control and efficiency
Qualification
Required
Bachelor's or Master's degree in Mathematics, Statistics, Quantitative Finance, Econometrics, or a closely related analytical field
1–4 years of experience in credit risk analysis, banking, fixed-income, or institutional underwriting
Demonstrated foundation in statistical modeling, probability, and quantitative methods applied to credit risk
Familiarity with regulatory filings, GAAP, and financial statement analysis for financial institutions
Experience with financial data platforms such as S&P Capital IQ / SNL, Bloomberg, or similar
Advanced quantitative/statistical skills with the ability to build, interpret, and explain credit risk models
Proficiency in R for statistical modeling and analytics; experience with SQL and Databricks for large-scale data processing is a plus
Knowledge of U.S. banking industry dynamics, credit risk principles, and regulatory environment for depository institutions
Strong Excel (including advanced functions; VBA a plus); familiarity with Tableau and Bloomberg helpful
Excellent written and verbal communication skills, with the ability to distill complex analyses for non-technical audiences
High attention to detail, intellectual curiosity, and sound judgment
Effective time management; comfortable working both independently and within a team environment
Benefits
Retirement program (401k and Pension)
Medical, dental and vision insurance
Lifestyle Spending Account
Competitive PTO plan
11 paid holidays per year
Company
Federal Home Loan Bank of Chicago
Our Mission: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for their community investment activities.
201-500 employees
H1B Sponsorship
Federal Home Loan Bank of Chicago has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2024 (1)
2022 (6)
2021 (5)
2020 (8)
Funding
Current Stage
Growth StageLeadership Team
Eric Geiger
Chief Technology Officer
Mike Zeifert, CFA
SVP, Chief Credit Officer
Company data provided by crunchbase