Mortgage Capital Markets Associate Portfolio Manager
Federal Home Loan Bank of Chicago
Location: Chicago, Illinois
Internal Number: R2300278
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.
* Medical, dental and vision insurance * Retirement program (401k and Pension) * Generous PTO plan * 11 paid holidays per year * Hybrid working model (effective February 22, 2022) * Casual dress code
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:
An associate portfolio manager will play a key role on the Mortgage Capital Markets (MCM) trading desk interacting daily with both internal and external stakeholders and counterparties. A successful associate portfolio manager on the MCM desk will participate in daily pricing activities for the mortgage loan portfolio, will assist in the analysis of trades for the long term investment portfolio and also learn to price, hedge and securitize our GNMA MBS eligible loans. You will provide support to our sales and member banks and communicate daily with our balance sheet management and middle office teams and collaborate with our risk groups.
How you'll make an impact:
Participate in daily mortgage pricing input for whole loan acquisitions, pipeline management and securitizations
Analyze bonds for our investment portfolio that directly impacts the Bank's net income
Collaborate with cross functional teams as the business liaison to support daily trading and risk activities as well software development and testing
What you can expect:
Participate in the morning loan balance sheet and securitization pricing process to create daily price grid/rate sheets
Work side by side with mortgage traders on pricing, pipeline hedging and securitizations
Assist in analyzing potential bond (MBS, RMBS, CMBS) portfolio acquisitions
Model and analyze complex topics related to Federal Home Loan Bank mortgage products in comparison to Fannie Mae, Freddie Mac, Ginnie Mae and non-agency loan products and pricing
Perform pricing tasks related to the Mortgage Partnership Finance program MPF Traditional, MPF Xtra, MPF Government MBS products
Model and analyze complex topics related to prepayment risk, interest-rate risk and pipeline management
Interface with various Risk Departments such as Market Risk and Model Risk Management on a frequent basis
Complete market pricing comparisons
Serve as a backup trader and interact with Middle Office group
Serve at times as part of an agile development team, helping to build enterprise grade software systems, potentially helping to explain business side needs, assisting in the design, development, testing, and support of a suite of financial Intranet web applications and distributed systems.
What you'll bring:
BA or BS degree in finance or a quantitative field; MS, MBA or CFA preferred;
Minimum 1-year of mortgage, fixed-income, GSE or bank-related experience;
Excel, Access, Bloomberg and Tableau experience is preferred;
Programming ability in advanced Excel, SQL, VB, R, C# .Net, PowerShell is desired
Basic understanding of financial modeling and statistical analysis;
Ability to work in a trading desk environment and in a diverse and inclusive environment
Excellent interpersonal communication skills (written, oral, and listening) are required.
Customer service attitude.
Displays a high degree of professionalism.
Planning, delegating, problem solving and decision making skills.
Extraordinary attention to detail
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. We offer work from home options and a casual dress code at our beautiful new space in the Old Post Office. Step into your future with us. #LI-Hybrid
The Federal Home Loan Bank of Chicago is a $100 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to support mortgage lending and community investment. Each FHLBank operates as an independent organization and is governed by a board of directors elected by its member institutions. As a cooperative, we provide reliable liquidity to our member banks, credit unions, insurance companies, and community development financial institutions located in Illinois and Wisconsin, focusing on the distinct needs of their individual businesses and communities.
We offer products and services to help our members fund loans and investments held in portfolio, manage liquidity, fund mortgages into the secondary market, secure third party agreements, and achieve asset liability management goals. Through our Community Investment and Affordable Housing programs, we also help our members to provide affordable housing and economic development in the communities they serve.
FHLBank Chicago is a place, where everyone can make a difference—both for our organization and for the communities we serve through our member financial institutions. We aim to create a diverse... and inclusive environment where employees are fully engaged and positioned to do their best work. Teamwork is valued, and even entry-level hires may find themselves working side-by-side with senior-level executives.