Sr. Collateral Verification Specialist

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 areFHLBank 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 hereAt 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 doIn this role, you'll be responsible for conducting detailed evaluations of pledged Member collateral and ensure that the collateral complies with the Bank's Credit and Collateral Guidelines. Accurate record keeping, market trend analysis, and effective communication with clients are crucial aspects of this role.How you'll make an impact:

• Reduce financial risk by verifying collateral authenticity, preventing potential losses.
• Streamline processes, reducing turnaround times and enhancing operational efficiency.
• They ensure regulatory compliance, safeguarding the organization from legal issues and penalties.What you can expect:
  • Coordinate and perform evaluations of the qualifying collateral pledged to the Bank to secure indebtedness.
  • Participate in development of collateral procedures and review models that include both quantitative and qualitative analysis for a variety of the collateral types.
  • Prepare summary reports of on-site collateral reviews that include findings, recommendations and comparative analysis to borrowers' Available Collateral Reports (ACR) in order to verify accurate reporting of sufficient qualifying collateral as required in the Bank's Credit and Collateral Guidelines.
  • Present results of the field audit findings and recommendations to the Member and to Bank management.
  • Discuss with the Members the results of the field audit reviews, and work to establish mutually acceptable solutions to any unfavorable findings.
  • Advise the Members and their Auditors regarding the Bank's Credit and Collateral policies and procedures (Guidelines).What you'll bring:
    • Bachelors or Master's degree in Finance, Accounting, or related field.
    • Five to ten years of experience in compliance, auditing or originating 1-4, multi-family, commercial real estate, farm property and small business loans.
    • Requires ability to interpret financial statements and operations of depository institutions.
    • MS Office products (Excel, Outlook, and Word).
    • Excellent interpersonal communication skills (written, oral, and listening) are required.
    • Strong attention to detail.
    • Ability to effectively manage a virtual work assignment.
    • Excellent customer service skills are required.
    • A high degree of professionalism is needed.
    • Time management and an ability to display initiative are necessary.
    • Requires possession of valid driver's license.The PerksAt 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.