Sr. Director, MPF Operations and Technology

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 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 (Community Development Financial Institution).

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. Through our Office of Diversity, Equity and Inclusion (DEI), we host signature and employee-led events to celebrate our differences and learn from each other and identify volunteer opportunities to strengthen our communities; and Employee Resource Groups (ERGs) and culture teams 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:

The Senior Director, MPF Operations and Technology will have broad responsibility for the strategy, design, implementation, and maintenance of key technology, systems, and general operations for the Mortgage Partnership Finance (MPF) Program, a secondary market channel used by FHLBank Member institutions.  This leadership role will partner closely with internal stakeholders, external investors, industry partners, technology vendors, and Operations and IT colleagues across the Bank to lead the vision, strategy and execution of the technology solutions supporting key processes for the MPF business.  This role requires a strategic thinker with excellent leadership, communication, and organizational skills with deep knowledge of modern technology solutions within the mortgage industry, experience with secondary market pricing, funding, and loan data delivery best practices, and familiarity with servicing, and cash management platforms and processes.  The individual will oversee teams with responsibilities for system solutions and implementation, operational excellence, process optimization, data governance, quality assurance, and will manage critical relationships with third party technology business partners and vendors.  The ideal candidate will have experience or knowledge across the lender, seller/servicer, and secondary market investor sides of the industry, and will be a strong collaborator with a focus on continuous improvement as the MPF Program evolves in size and scope.

How you’ll make an impact:

• Operations Enabled by Technology:  You will collaborate with MPF business colleagues and internal and external stakeholders in close connection with the Bank’s Operations and IT organizations to drive success against this core strategic pillar.  Success in this space is vital to our ability to evolve the business and build the MPF Program of the future, with an ultimate goal of making the mortgage process less cumbersome, less expensive, and more certain for our customers.
• Process Optimization: You will have responsibility for ensuring that MPF Program seller/servicers and key stakeholders across the FHLBanks are positioned for success with business processes, data collection and management, cash transactions, and other core operational processes optimized to most effectively meet customer and stakeholder needs. 
• Vendor Strategy and Oversight: You will manage and continuously evaluate a support model that significantly leverages an outside technology vendor. This includes overseeing how external vendors are utilized currently and, in the future, ensuring that vendor relationships are optimized for success. This skill is crucial for maintaining operational excellence and achieving strategic goals.
• Evolve Standards and Best Practices: You will enhance the approach to strategic initiatives, governance, and board and regulatory level engagement on important operational and technology related topics.  You will own the project and technology roadmap for the business and communicate effectively to drive buy-in across stakeholders in direct alignment with the Bank’s strategies, technology, and project standards and protocols.

What you can expect:

• Contribute to and maintain alignment with the Bank’s strategic business plans, ensuring technology initiatives across both mortgage technology and enterprise business systems are closely integrated with overall organizational strategy
• Provide cross functional leadership in strategic and operational planning processes as a member of the MPF Program management team 
• Cultivate a forward-thinking and dynamic partnership with the business leadership team, dedicated to effectively aligning project priorities seamlessly with the FHLBank Chicago’s and MPF Program strategy and architecture. This role is instrumental in nurturing a collaborative environment that bridges business objectives with technological innovation
• Oversees the integration of architecture practices into the Bank’s development model by partnering throughout the technology and product management organizations
• Proactively stay informed of evolving trends, technological advancements, and key players in the mortgage industry, encompassing suppliers, competitors and pricing dynamics. This role requires a keen understanding of the industry’s landscape to guide strategic decisions and maintain a competitive edge in current technologies and market movements
• Oversees a network with key industry stakeholders, including Loan Origination System (LOS) providers, Product and Pricing Engines (PPE), and servicing platforms to stay at the forefront of mortgage technology trends. Provide strategic guidance to business management on evolving mortgage system-related challenges and opportunities, ensuring alignment with industry advancements and operational needs
• Responsible for planning and identifying opportunities for appropriate and cost-effective investment in IT systems in alignment with budget requirements
• Oversee the assessment of current state capabilities of MPF systems against alternative solutions, with a focus on adapting to best practices and industry standards
• Responsible for the applicable MPF IT budget and oversight of MPF IT related technology partner and vendor relationships, including responsibility for contracts, SOWs, and expenses 
• Assess, communicate, and manage risks associated with MPF IT investments and operations, ensuring alignment with the Bank’s technology risk appetite and strategic objectives 
• Balance the use of in-house and outsourced solutions, managing staffing models to support both enterprise and mortgage technology effectively
• Take on a leadership role in leading critical discussion and communication with board, regulatory, customer, and other governance stakeholders
• Promote a strong risk culture within the team.  Oversee the development and maintenance of a strong control and risk reporting framework and a robust inventory of policies and procedures

• Partner with training, learning, and development stakeholders to contribute to Program-wide training and education efforts on operational and technology solutions
• Coordinate with business, operations, and IT stakeholders to ensure initiatives are properly planned, prioritized, and managed
• Manage all staffing duties for the MPF Operations and Technology teams, including hiring/separations, performance management, staff development and day-to-day employee related issues
• Manage and allocate work across teams to promote efficiency and ensure the core responsibilities of each team are fulfilled

What you’ll bring:

• Bachelor's degree related to technology field and minimum of 10 years' experience with technology, with substantial management experience
• Familiarity with supporting a secondary mortgage operation including loan origination, loan on-boarding, master servicing, loan accounting, and investor reporting
• Breadth of technology leadership experience in application development, enterprise and software architecture, and operations management; experience with a hybrid buy/build integration of software platforms
• Strong overall knowledge of the mortgage industry
• Strong familiarity with Software Development Life Cycles such as Agile 
• Excellent communication skills (both verbal and written)
• Strong team management, coaching, mentoring, and professional development skills
• Strong team player with ability to collaborate with colleagues and positively influence outcomes
• Ability to work at ease with both technical and non-technical users 
• Proven ability to successfully recruit, lead, and motivate a high performing team; ability to communicate with and inspire the group to achieve organizational goals
• Flexibility, ability to prioritize, find creative solutions, develop solutions, and meet deadlines
• 10+ years of experience in financial services and residential mortgage servicing.  Experience with both the servicing and secondary investor side of the industry preferred
• Deep understanding of mortgage industry regulations and compliance requirements
• Proven leadership skills with a track record of managing large teams and achieving operational and strategic goals
• Strong analytical skills and business acumen to make informed, data driven decisions
• Excellent communication and interpersonal skills to effectively interact with customers, vendors, investors, and internal stakeholders

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 generous 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. Step into a brighter future with us. #LI-Hybrid