Loan Administration Specialist

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

  ​

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

The Loan Administration Specialist will serve and support vendors, MPF banks, members, or PFI’s as well as other areas of the Bank (Treasury, Banking Operations, Legal, or Credit).

How you'll make an impact

• Strategic Alignment: You will play a key role in aligning MPF Loan Administration projects with our strategic objectives, ensuring that our process improvement investments directly contribute to our growth and competitiveness, within MPF.

• Process Efficiency: By identifying, running, and improving manual processes, you will help streamline the loan administration processes for PFIs and enhance the efficiency of our MPF Loan Administration area.

• Effective Collaboration: Your involvement in the oversight of the Program Master Servicer and the improvement and knowledge of the PFIs, will foster collaboration between PFIs and the Program Master Servicer, leading to ease of use for the PFIs and reduced follow up for the internal staff.

What you can expect

• Responsible for processing loan transactions and reconciliations with minimal supervision.

• Provide assistance in managing MPF projects.

• General Ledger entries and Cash management responsibilities

• Act as liaison or customer support for customers with any issues or inquiries.

• Charged with the resolution of general issues.

• Compile and develop periodic (weekly, monthly, and quarterly) reports on status tracking and exceptions.

• Cross-train and develop skills in other areas of the MPF Provider as needed.

• May be called upon to backup the functions in other areas of MPF Provider.

• Recasts, Loss Mitigation Modifications, and other duties as assigned.

• Research loan exceptions with internal and external stakeholders.

• Work closely with Investor Reporting on various duties/projects as assigned.

What you'll bring

• MS Office product (notably Outlook, Word, Excel, and Access) knowledge.

• Prefer at least 2 years experience working with Government Sponsored Entites.

• 2-5 years of relevant experience in a mortgage, banking, of financial services environment.

• 3-5 years customer service experience.

• Bachelors Degree

• Solid customer service orientation.

• Must have good communication (verbal, written, and listening) and presentation skills.

• General understanding of system/technical concepts.

• Will require the ability to work with minimal supervision and to see tasks through from beginning to end.

• A high level of integrity and dependability are necessary to perform this role.

• Strong attention to detail.

• Ability to deal with and resolve ambiguous situations.

• History of effective time management and priority setting is needed.

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.