Manager, Operational Risk

Chicago, IL, United States

Join the FHLBC team!

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.

* Retirement program (401k and Pension) * Medical, dental and vision insurance * Lifestyle Spending Account

* Generous PTO plan

* 11 paid holidays per year

* Hybrid working model Who we are:

FHLBank Chicago partners 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. We are one of 11 Federal Home Loan Banks created by Congress in 1932 as a government sponsored enterprise to support mortgage lending and community investment. We are member owned and member focused. Our members include banks, credit unions, insurance companies and CDFIs.

What it's like to work here:

At FHLBank Chicago, we bring people together. Our regular All-Staff meetings keep employees informed and our values drive the work that we do. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our Employee Value Proposition is honed by listening and identifying the needs and priorities of our valued employees. Through CommuniTeam, we volunteer and identify ways to strengthen our communities. Our Office of Diversity, Equity, and Inclusion (DEI) hosts signature and employee-led events for continued learning; and Employee Resource Groups (ERGs) and culture clubs create connections around shared interests and experiences. We offer live and on-demand professional development opportunities to grow your skillset and your career.

What you'll do:

Lead the execution the Banks Operational Risk programs oversight including the Operational Risk Management Framework (ORMF) which comprises the identification, assessments, measurement, reporting, and risk decision making in accordance with operational risk related policies, operational risk tools and regulatory expectations. Demonstrate process leadership and ability to use and coach others in best practices to improve process efficiency and effectiveness. Continue to mature and continuously improve operational risk metrics and reporting. This position has direct reports.

How you'll make an impact:

Lead the team in the day-to-day operation, maintenance and improvement of the operational risk management framework and supporting operational risk programs.

Work collaboratively and cooperatively across the three lines of defense (i.e., business units, support functions, and internal audit).

Serve as trusted advisor to business leadership while balancing independence to fulfill oversight responsibilities.

What you can expect:

Lead bank wide execution of operational risk management framework comprising the identification, evaluation, measurement, mitigation and reporting of operational risk to senior leadership.

Experiences in application of advanced quantitative methods in operational risk measurement (e.g., Monte Carlo simulations).

Manage continuous improvement of operational risk programs including risk assessments, enterprise metrics, risks and controls, operational risk events, and risk decisions.

Perform qualitative and quantitative analysis, collection and reporting operational risk event data and utilizing operational risk data and other internal data sources, as well as external data to evaluate and reports the Banks operational risk exposure.

Develop, collect, maintain, monitor, and report operation risk metrics (i.e., key risk indicators and key performance indicators) utilized to monitor the Banks operations risk exposure.

Provide coaching to direct reports with objective of developing a high performing team.

Manage the review and periodic update of the operational risk policies, standards, and related operational risk procedures.

Lead enterprise-wide view and oversight of the Banks operational risk including vendor risk management, business resiliency, financial reporting, affordable housing/ community investment activities, etc.

Continuously improve operational risk management tools (e.g., loss events, metrics, risk assessments, risk acceptances, etc.) and reporting on the operational risks within in the business lines.

What you'll bring:

10+ years' experience executing or leading operation risk management at financial institution(s)

Influence, guide and credibly challenge stakeholders in relation to the operational risks.

Bachelor's degree in finance, accounting, or business

Master's or professional degree desired (e.g., MBA, JD, Accounting, etc.)

Professional certifications desired (e.g., FRM, PRM, etc.)

MS Office products (Excel, Outlook, PowerPoint, and Word)

Tableau preferred.

Experience with GRC systems (e.g., Archer, Riskonnect, Thompson Reuters, etc.)

Ability to manage ambiguity and changing priorities in fast paced dynamic environment.

Must be self-directed with high energy level.

Strong presentation skills

Detail-oriented with the ability to multi-task and meet deadlines with minimal supervision.

Strong, effective communication resulting in an understanding of the message from others.

Strong problem solving and decision-making abilities.

Displays effective leadership (e.g., empathy, initiative, coaching)

Lean Six Sigma Green or Black Belt

Strong people management skills

Ability to influence others.

Desire to take on leadership responsibilities.

Experience leading cross functional projects or teams.

Strong collaboration and business acumen skills

The perks:

At FHLBank Chicago, employees come first. 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 401K and Pension. Our generous PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year. Join us at our beautiful new space in the Old Post Office. Step into your future with us. #LI-Hybrid

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