At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly ... from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 ...
At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly ... from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 ...
At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly ... from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 ...
At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly ... from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 ...
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... Bank") Third-Party Risk Management Program. This role partners across the first and second lines of defense to ensure risks arising from third-party relationships are effectively identified, assessed ...
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Operational Risk Manager
Bethesda, MD · On-site
$114K - $192K/yr
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Operational Risk Manager
Bethesda, MD · On-site
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Quick apply
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From Home Bank Risk Management information
See salary details
$43.5K - $54.8K
8% of jobs
$54.8K - $66K
14% of jobs
$71.2K is the 25th percentile. Wages below this are outliers.
$66K - $77.3K
6% of jobs
$77.3K - $88.6K
8% of jobs
$88.6K - $99.9K
11% of jobs
The median wage is $102.2K / yr.
$99.9K - $111.1K
13% of jobs
$111.1K - $122.4K
11% of jobs
$125.8K is the 75th percentile. Wages above this are outliers.
$122.4K - $133.7K
15% of jobs
$133.7K - $145K
8% of jobs
$145K - $156.2K
4% of jobs
$156.2K - $167.5K
2% of jobs
$43.5K
$103.7K
$167.5K
How much do from home bank risk management jobs pay per year?
What is the difference between From Home Bank Risk Management vs From Home Bank Credit Analyst?
| Aspect | From Home Bank Risk Management | From Home Bank Credit Analyst |
|---|---|---|
| Primary Focus | Assessing overall risk exposure and developing risk mitigation strategies | Analyzing creditworthiness of individual borrowers and loan applications |
| Required Credentials | Typically requires risk management certifications or finance degrees | Often requires finance, accounting, or related certifications |
| Work Environment | Office-based, often with remote options, within banking or financial institutions | Office-based, with a focus on financial analysis and client assessment |
While both roles are integral to banking operations, From Home Bank Risk Management focuses on overall risk assessment and mitigation strategies, whereas From Home Bank Credit Analyst concentrates on evaluating individual credit applications. Understanding these distinctions helps clarify career paths and job expectations within the banking industry.
What is a Home Bank Risk Management job?
What are the key skills and qualifications needed to thrive as a Home Bank Risk Management professional, and why are they important?
How does working remotely in a bank risk management role affect collaboration with other departments?

Full-time
Medical, Dental, Vision, Retirement, PTO
Posted 11 days ago
Job description
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
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
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 with an allocation of remote days to use as needed throughout the year.
What you'll do
The Manager, Business Risk Management (BRM) leads the Bank's dedicated first-line risk function within the member-facing business, owning product suitability, exception handling, governance and controls, and 7th District Mortgage Partnership Finance (MPF) oversight. As the business's own risk leader-not a second-line reviewer-this role is responsible for developing a first line posture around risk, embeds disciplined, repeatable risk management into day-to-day business activity, ensuring member solutions and transactions are suitable, well-documented, and consistent with the Bank's risk appetite.
The Manager will be responsible for the development and maintenance of an appropriateness framework, adjudicates first-line exceptions, produces key risk indicator (KRI) and first-line risk reporting, and serves as the credible first-line partner to the Second Line of Defense (2LOD), Internal Audit, and regulators. This role also leads and develops a small team, setting priorities and coaching on applied risk management and framework execution.
This position sits within the Member Financial Strategies group, reports to the group's senior leader, and engages cross-functionally with Solutions, Sales, Sales Enablement, Sales Operations, Risk Management, Compliance, and Internal Audit.
How you'll make an impact
Shape the business's risk culture. Establish and lead a dedicated first-line risk function, helping the Bank make sound decisions while supporting strategic growth and member service.
Be a trusted advisor on high-impact decisions. Partner with business leaders to evaluate opportunities, manage risk, and ensure member solutions align with the Bank's risk appetite and regulatory expectations.
Strengthen the future of member-facing business. Surface risk within our strategy, build scalable risk frameworks, governance practices, and oversight processes that enhance transparency, compliance, and long-term organizational resilience.
What you can expect
Appropriateness & Member Solution Risk
Own, maintain, and continuously improve the member appropriateness framework governing advances, letters of credit, community investment products, derivatives and structured funding and hedging solutions
Review proposed member transactions and solution designs for suitability, appropriate risk/return characterization, and alignment with member objectives and the Bank's risk appetite
Partner with Solutions and Sales to embed suitability checkpoints into the member engagement and transaction lifecycle without compromising responsiveness
Document suitability determinations with clear, audit-ready rationale and conditions
Exception Handling & Governance
Adjudicate first-line exceptions, documenting rationale, conditions, approvals, and escalation paths with audit-ready clarity
Maintain governance and control documentation-policies, procedures, and control inventories-for first-line activities
Track, age, and report open exceptions and remediation items to leadership and the Second Line of Defense
Identify control gaps and drive practical remediation that strengthens the control environment without impeding the business
Risk Monitoring, KRIs & Reporting
Design, produce, and interpret KRI and first-line risk reporting, surfacing emerging exposures, trends, and limit pressures
Conduct exposure analysis and apply quantitative risk fundamentals to first-line decisions
Translate risk data into concise, decision-ready reporting for leadership, 2LOD, and applicable committees
Monitor adherence to limits, policies, and risk appetite, escalating breaches promptly
7th District MPF Oversight
Provide first-line oversight of 7th District MPF activity, ensuring program execution aligns with guidelines, controls, and risk standards
Coordinate with MPF Sales and Risk Management to monitor program risk and resolve issues
Maintain oversight documentation and reporting that withstands audit and regulatory review
Second-Line Partnership & Regulatory Engagement
Serve as the credible first-line counterpart to the Second Line of Defense, Internal Audit, and Regulators
Translate supervisory expectations and the three-lines-of-defense model into practical first-line controls and execution discipline
Respond to audit and examination requests with timely, complete, and well-organized documentation
Team Leadership & Talent Development
Directly manage and develop the BRM Analyst: set priorities, allocate workloads, and maintain high standards of analytical rigor
Coach team members on applied risk management, KRI construction, exposure analysis, and framework execution
Review and quality-control all first-line documentation and reporting prior to distribution
What you'll bring
Bachelor's degree in Finance, Economics, Accounting, Risk Management, Mathematics, or a related field. Advanced degree or relevant professional certification (FRM, CFA, PRM, CRCM) preferred.
7+ years of professional experience in risk management, controls, audit, compliance, or a first- or second-line risk function at a bank, FHLBank, broker-dealer, or financial institution, including 1-3 years of people leadership experience.
Demonstrated experience designing or executing risk frameworks-suitability, exception, KRI, or controls frameworks-within a business or risk function.
Familiarity with FHLBank products (advances, letters of credit, interest rate derivatives) and/or the MPF program preferred.
Prior experience interfacing with second-line risk, Internal Audit, and regulators.
Applied first-line risk management within business operations, with the judgment to embed effective controls without unnecessarily impeding the business.
Strong quantitative risk fundamentals, including KRIs, exposure analysis, and limit monitoring.
Regulatory and supervisory fluency, including the three-lines-of-defense model, FHFA expectations, and applicable safety-and-soundness standards.
Framework design and execution discipline, with consistently audit-ready documentation.
Credibility and partnership with the Second Line of Defense, Internal Audit, members, and examiners.
Sound, defensible judgment under ambiguity, particularly in adjudicating exceptions.
Exceptional written and verbal communication skills, with the ability to present risk positions clearly to leadership and control partners.
Proven ability to set direction, manage workloads, and develop talent within an analytical team.
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. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.
Salary Range:
$125,825.00 - $221,275.00The 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
About Federal Home Loan Bank of Chicago
Sourced by ZipRecruiter
Industry
Commercial banking
Company size
201 - 500 Employees
Headquarters location
Chicago, IL, US
Year founded
1932