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.

Collaborative, in-office operating model

Retirement program (401k and Pension)

Medical, dental and vision insurance

Lifestyle Spending Account

Competitive PTO plan

11 paid holidays per year

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 (Community Development Financial Institution).

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:

The Senior Director, MPF Operations and Technology will have broad responsibility for the strategy, design, implementation, and maintenance of key technology, systems, and general operations for the Mortgage Partnership Finance (MPF) Program, a secondary market channel used by FHLBank Member institutions. This leadership role will partner closely with internal stakeholders, external investors, industry partners, technology vendors, and Operations and IT colleagues across the Bank to lead the vision, strategy and execution of the technology solutions supporting key processes for the MPF business. This role requires a strategic thinker with excellent leadership, communication, and organizational skills with deep knowledge of modern technology solutions within the mortgage industry, experience with secondary market pricing, funding, and loan data delivery best practices, and familiarity with servicing, and cash management platforms and processes. The individual will oversee teams with responsibilities for system solutions and implementation, operational excellence, process optimization, data governance, quality assurance, and will manage critical relationships with third party technology business partners and vendors. The ideal candidate will have experience or knowledge across the lender, seller/servicer, and secondary market investor sides of the industry, and will be a strong collaborator with a focus on continuous improvement as the MPF Program evolves in size and scope.

How you’ll make an impact:

Operations Enabled by Technology: You will collaborate with MPF business colleagues and internal and external stakeholders in close connection with the Bank’s Operations and IT organizations to drive success against this core strategic pillar. Success in this space is vital to our ability to evolve the business and build the MPF Program of the future, with an ultimate goal of making the mortgage process less cumbersome, less expensive, and more certain for our customers.
Process Optimization: You will have responsibility for ensuring that MPF Program seller/servicers and key stakeholders across the FHLBanks are positioned for success with business processes, data collection and management, cash transactions, and other core operational processes optimized to most effectively meet customer and stakeholder needs.
Vendor Strategy and Oversight: You will manage and continuously evaluate a support model that significantly leverages an outside technology vendor. This includes overseeing how external vendors are utilized currently and, in the future, ensuring that vendor relationships are optimized for success. This skill is crucial for maintaining operational excellence and achieving strategic goals.
Evolve Standards and Best Practices: You will enhance the approach to strategic initiatives, governance, and board and regulatory level engagement on important operational and technology related topics. You will own the project and technology roadmap for the business and communicate effectively to drive buy-in across stakeholders in direct alignment with the Bank’s strategies, technology, and project standards and protocols.

What you can expect:

Contribute to and maintain alignment with the Bank’s strategic business plans, ensuring technology initiatives across both mortgage technology and enterprise business systems are closely integrated with overall organizational strategy
Provide cross functional leadership in strategic and operational planning processes as a member of the MPF Program management team
Cultivate a forward-thinking and dynamic partnership with the business leadership team, dedicated to effectively aligning project priorities seamlessly with the FHLBank Chicago’s and MPF Program strategy and architecture. This role is instrumental in nurturing a collaborative environment that bridges business objectives with technological innovation
Oversees the integration of architecture practices into the Bank’s development model by partnering throughout the technology and product management organizations
Proactively stay informed of evolving trends, technological advancements, and key players in the mortgage industry, encompassing suppliers, competitors and pricing dynamics. This role requires a keen understanding of the industry’s landscape to guide strategic decisions and maintain a competitive edge in current technologies and market movements
Oversees a network with key industry stakeholders, including Loan Origination System (LOS) providers, Product and Pricing Engines (PPE), and servicing platforms to stay at the forefront of mortgage technology trends. Provide strategic guidance to business management on evolving mortgage system-related challenges and opportunities, ensuring alignment with industry advancements and operational needs
Responsible for planning and identifying opportunities for appropriate and cost-effective investment in IT systems in alignment with budget requirements
Oversee the assessment of current state capabilities of MPF systems against alternative solutions, with a focus on adapting to best practices and industry standards
Responsible for the applicable MPF IT budget and oversight of MPF IT related technology partner and vendor relationships, including responsibility for contracts, SOWs, and expenses
Assess, communicate, and manage risks associated with MPF IT investments and operations, ensuring alignment with the Bank’s technology risk appetite and strategic objectives
Balance the use of in-house and outsourced solutions, managing staffing models to support both enterprise and mortgage technology effectively
Take on a leadership role in leading critical discussion and communication with board, regulatory, customer, and other governance stakeholders
Promote a strong risk culture within the team. Oversee the development and maintenance of a strong control and risk reporting framework and a robust inventory of policies and procedures

Partner with training, learning, and development stakeholders to contribute to Program-wide training and education efforts on operational and technology solutions
Coordinate with business, operations, and IT stakeholders to ensure initiatives are properly planned, prioritized, and managed
Manage all staffing duties for the MPF Operations and Technology teams, including hiring/separations, performance management, staff development and day-to-day employee related issues
Manage and allocate work across teams to promote efficiency and ensure the core responsibilities of each team are fulfilled

What you’ll bring:

Bachelor's degree related to technology field and minimum of 10 years' experience with technology, with substantial management experience
Familiarity with supporting a secondary mortgage operation including loan origination, loan on-boarding, master servicing, loan accounting, and investor reporting
Breadth of technology leadership experience in application development, enterprise and software architecture, and operations management; experience with a hybrid buy/build integration of software platforms
Strong overall knowledge of the mortgage industry
Strong familiarity with Software Development Life Cycles such as Agile
Excellent communication skills (both verbal and written)
Strong team management, coaching, mentoring, and professional development skills
Strong team player with ability to collaborate with colleagues and positively influence outcomes
Ability to work at ease with both technical and non-technical users
Proven ability to successfully recruit, lead, and motivate a high performing team; ability to communicate with and inspire the group to achieve organizational goals
Flexibility, ability to prioritize, find creative solutions, develop solutions, and meet deadlines
10+ years of experience in financial services and residential mortgage servicing. Experience with both the servicing and secondary investor side of the industry preferred
Deep understanding of mortgage industry regulations and compliance requirements
Proven leadership skills with a track record of managing large teams and achieving operational and strategic goals
Strong analytical skills and business acumen to make informed, data driven decisions
Excellent communication and interpersonal skills to effectively interact with customers, vendors, investors, and internal stakeholders

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. Step into a brighter future with us.

Salary Range:

$217,550.00 - $382,325.00

The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

Federal Home Loan Bank of Chicago

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