Mbs Trading Jobs (NOW HIRING)

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 an allocation of remote days to use as needed throughout the year.

What you'll do

This role is a hybrid portfolio manager and quantitative pricing specialist embedded within the Mortgage Capital Markets (MCM) desk. The position combines hands-on pricing and trading for MPF mortgage products and the MBS/CMO investment portfolio with robust financial modeling and analytics.The role applies quantitative insight directly to pricing, securitization, and portfolio investment decisions, working closely with other traders, Sales, Balance Sheet Management, Risk, Accounting, and Middle Office teams.

How you'll make an impact

• Make realtime market impact:You'll play a handson role in daily pricing, hedging, and securitization decisions that directly affect how mortgages are priced, executed, and delivered to the market.

• Influence portfolio strategy and investment outcomes:Your analysis will help shape MBS and CMO investment decisions, portfolio construction, and risk management.

• Be a trusted quantitative partner across the Bank:You'll translate complex models and market dynamics into clear, actionable insights used by senior management, committees, and regulators, helping drive smarter, wellgoverned decisions.

What you can expect

The MCM Portfolio & Pricing Manager will support the Mortgage Capital Markets Trading Desk as follows:

MPF Pricing & Securitization:

• Participate directly in daily pricing for MPF products, onbalancesheet purchases, hedging strategies, and securitization execution decisions.

• Develop and maintain pricing analytics to evaluate loan economics, credit enhancement, profitability and member value implications of various execution alternatives.

• Support Sales and Product teams by clearly explaining pricing drivers, execution differences, and market conditions.

MBS / CMO Investment Portfolio Management:

• Active management and acquisition of the MBS and CMO investment portfolio, including relative value analysis across pass-throughs and structured products.

• Assist with trade idea generation, investment analytics, and execution.

• Monitor ongoing portfolio performance and risk characteristics, including prepayment behavior, convexity, and benchmark comparisons.

• Prepare analysis and materials for ALCO and other internal committees

Pricing Models, Analytics & Risk Insight:

• Build andmaintainfinancial models supporting MPF pricing, pipeline hedging applications, securitization economics, and models supporting investment portfolio decisions.

• Perform scenario, sensitivity, and attribution analysis to explain pricing and portfolio outcomes.

• Monitor internal and third-party models and escalate limitations or concerns toappropriate riskpartners.

• Recommend model and analytical enhancements based on observed performance and desk needs.

Cross-Functional Engagement & Governance:

• Partner closely with Balance Sheet Management, Market Risk, Model Risk Management, Accounting Policy, Information Technology and Middle Office teams.

• Support audit, regulatory, and exam requests related to pricingmethodology, MPF economics, and investment portfolio analysis.

• Translate quantitative analysis into clear, decision-ready insights for senior management and stakeholders.

What you'll bring

• BA or BS degree in finance, mathematics or other related quantitative field; MS, MBA and/or CFA preferred;

• Minimum 7+ years of mortgage capital markets, MBS/structured products, GSE or bank-related experience;

• Bloomberg, LSEG Workspace, TradeWeb and Tableau experience is preferred;

• Programming ability in advanced Excel, SQL, VB, R, C# .Net, PowerShell is desired

• Solid understanding of financial modeling and statistical analysis; Ability to work in a trading desk hours and environment

• Excellent interpersonal communication skills (written, oral, and listening) are required.

• Displays a high degree of professionalism judgement, collaboration skills and work ethic

• Planning, delegating, problem solving and decision making skills.

• Highly analytical and strategic thinker

• Extraordinary attention to detail

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:

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