Apprentice - MPF
Federal Home Loan Bank of Chicago

Chicago, Illinois


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.

* Medical, dental and vision insurance
* Retirement program (401k and Pension)
* Generous PTO plan
* 10 paid holidays per year
* Work from home options
* Casual dress code


About Federal Home Loan Bank of Chicago: We are a federally chartered corporation and one of 11 Federal Home Loan Banks (FHLBanks) that, with the Office of Finance, comprise the Federal Home Loan Bank System. The FHLBanks were chartered by Congress under the Federal Home Loan Bank Act of 1932 to improve the availability of funds to support home ownership. Each FHLBank is cooperatively owned by member financial institutions in its district and operated as a separate entity with its own management, employees, and board of directors. Our district consists of the states of Illinois and Wisconsin. We are regulated by the Federal Housing Finance Agency, an independent federal agency.

Position Summary: The MPF Operations and Support Apprentice will assist PFIs (Participating Financial Institutions) and the Federal Home Loan Banks in the performance of mortgage pricing and executing mortgage-related financial transactions. He/she will assist with a wide variety of important functions including providing guidance to our PFIs regarding guidelines, performing research, compiling and analyzing mortgage data for reports, performing rate distribution communications and reconciling daily transactions, accounts, and exceptions. The targeted Service Center Position at the end of the Apprentice program will be MPF Operations and Support Specialist.

Specific duties and responsibilities include:

  • Assist with the execution of mortgage related financial transactions and mortgage pricing
  • Act as a liaison between internal departments and external business partners for the support of products and the development of financial institution relationships
  • Apply origination, underwriting, servicing, and Mortgage Banking knowledge to provide resolution to questions and issues that arise with external business partners or internal parties
  • Perform daily and monthly reconciliation of transactions, accounts, and exceptions
  • Complete ongoing mortgage industry and technical skill training
  • Acquire and maintain the foundational skills needed to perform the required Service Center responsibilities


Employer Qualifications and Requirements: employer will describe what qualifications/requirements are needed prior to job posting
  • Enrolled in one of the city Colleges working toward an associates in Finance or another Business discipline with a remainder of one year or less in completing the Associates Degree
  • Quick learner; Attention to detail; Reliable; Organizational skills and capable of meeting required deadlines
  • Excellent verbal and written communication skills to provide the customer service MPF strives to maintain and continually improve on
  • Proficiency in Excel or enrolled in Excel classes
  • Proficiency in Access or enrolled in Access Based classes


Program Qualifications:
  • Be within 15 hours of graduating from any of the City Colleges of Chicago
  • Pursuing an associate's degree in Finance or another Business discipline
  • Available to work 20 hours minimum per week
  • Earn passing grades (of a C or higher) in coursework
  • Excellent communication skills, both verbal and written
  • Agree to participate in all aspects of The Chicagoland Chamber of Commerce Apprenticeship Program (CoCAP), including:
    • File for FAFSA, if applicable
    • Meet with OMD, Career Advancement Coordinator
    • Attend professional development sessions


FHLBank Chicago Maintains a Safe Work Environment With A Mandatory Vaccination Policy For All Employees.

We are committed to providing a safe work environment for all our employees. The FHLBank Chicago requires all employees, except those who may require accommodations under federal or state civil rights laws, to be fully vaccinated.


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