Mortgage Loan Servicing Director jobs in Chicago, IL

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. 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 do

The Managing Director, Mortgage Technology position is a pivotal role within the Bank's IT Group, tasked with spearheading the technology architecture and systems development for the Mortgage Partnership Finance ("MPF") Program. MPF, a key product line at FHLBank Chicago. It is a secondary mortgage market function that serves the FHLB system. This position plays a crucial role in shaping the MPF Program's long-term technology strategy, creating detailed architecture roadmaps, and fostering the development of MPF solutions.

Collaborating closely with our technology partners and Program investors, this individual will stay well-informed about trends and solutions of competitors in the mortgage space, especially for secondary mortgage solutions. The focus is to ensure that the MPF systems are robust, adaptable, and capable of fulfilling the requirements of the FHLBank Systems' financial institutions and investors.

This role will blend the demands of business relationship management with architectural planning, and execution of strategic initiatives. It involves a close partnership with business teams to understand their objectives along with technology vendor capabilities, and technology development needs in support of those objectives. The role requires effective collaboration with both technology team members and business resiliency colleagues, ensuring consistent delivery on needs through a blend of enterprise and project architecture leadership, project execution, and ongoing operations.

How you'll make an impact:

• Align MPF technology risk with the Bank's overall technology risk appetite.
• Responsible for the applicable IT budget and oversight of vendor contracts, SOWs, and expenses.
• Present to the MPF Governing Council and subcommittees on MPF and general mortgage IT issues as needed

What you can expect:

• Provide cross functional leadership in strategic and operational planning processes as a member of the IT 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.
• Integrate architecture practices into the DevSecOps 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.
• Cultivate and manage a dynamic network with key industry stakeholders, including Loan Origination System providers and Fintech companies, 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.
• Develop a strong relationship with our managed services provider and oversee the relationship and use of them. Lead the strategy for use of key mortgage industry technology vendors in addition to our managed services provider.
• Assess current state capabilities of the MPF systems against other alternatives provided by other vendors.
• Balance the use of in house and outsourced solutions and continue to manage and adjust the staffing model, a mix of managed services and employees.

What you'll bring:

• Bachelor's degree related to technology field and minimum of 10 years' experience with mortgage technology, with substantial management experience. Experience should include 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

The Perks

At 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. We offer work from home options and a casual dress code at our beautiful new space in the Old Post Office. Step into your future with us. #LI-Hybrid