Full-Time
Solution Architect
Posted on 11/23/2025
FHLBank Chicago
501-1,000 employees
Wholesale lender funding affordable housing programs
Compensation Overview
$125.8k - $221.3k/yr
Chicago, IL, USA
In Person
 Sales & Solution Engineering (1) |
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- Bachelor’s degree in Computer Science, Information Systems, or equivalent education or work experience
- 7+ years of experience in information technology roles, with 1-3 years experience in architecture roles (enterprise or solution architecture)
- Demonstrated ability to communicate the complexities of technical programs
- Experience modeling system diagrams, functional processes and interfaces between systems
- Experience with cloud computing services, particularly Amazon Web Services (AWS)
- Define technology solutions that satisfy the needs of a particular business unit by analyzing business requirements, evaluating existing systems, and proposing optimal architectures to solve business challenges, acting as a bridge between business needs and technical capabilities
- Partner with key business stakeholders, delivery teams, other Solution Architects and Enterprise Architecture to ensure that defined solutions meet the needs of the business while also aligning with enterprise technology strategy (the technology “North Star”), enterprise architectures, and documented patterns and standards
- Contribute to the success of business initiatives and significantly influence the strategic direction of technology projects
- Enhance overall business efficiency and effectiveness
- Ensure consistency and coherence across the Bank's technology landscape
- Develop an understanding of relevant business functions and associated challenges, translate complex business requirements into technical solutions
- Propose architecture solutions to solve business needs, considering factors like cost, performance, scalability and reuse, operational efficiency and security in alignment with enterprise technology strategy and architectures, and documented patterns and standards
- Build prototypes and proof-of-concepts to validate solution feasibility
- Work with business and technology stakeholders, technology vendors and implementation partners to ensure that technologies are selected, designed and implemented in alignment with Bank policies, standards, and enterprise architectures
- Create architecture documentation that successfully describes a proposed solution, effectively communicate the solution to all stakeholders
- Participate in technology governance processes, present proposed solutions to and gain approval by the Architecture Review Board (ARB). Act as technical approver as part of the Change Approval Board (CAB)
- Guide delivery teams during implementation, ensuring alignment with the approved architecture
- Collaborate with cross-functional teams to communicate technical concepts and address concerns
- Provide mentoring and guidance to delivery team members and Architecture teammates on business domain knowledge as well as technical topics
- Experience working in a financial institution is desirable
- Experience working in a regulated industry is desirable
- AWS certifications are a plus
- TOGAF certification is desirable
FHLBank Chicago is a wholesale lender owned by its member financial institutions (banks, credit unions, and insurers in Illinois and Wisconsin). It provides competitively priced funding to these members by accessing global debt markets and offering a range of funding products. Its Community Investment group focuses on financing affordable housing and economic development. Programs like the Affordable Housing Program (AHP) offer forgivable housing grants, and the Downpayment Plus (DPP) program provides down payment assistance to homebuyers. The bank differentiates itself as a member-owned cooperative with a clear focus on community development and housing finance, rather than serving retail consumers directly. Its goal is to supply stable, affordable funding to its members and support initiatives that boost affordable housing and community development.
Company Size
501-1,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Chicago, Illinois
Founded
1932
Simplify's Take
What believers are saying
- 2025 net income rose to $654 million from $620 million on higher advances.
- Funded $3.3 billion Community Advances supporting 14,800 housing units.
- Disbursed $106 million grants aiding 4,500 homebuyers via Downpayment Plus.
What critics are saying
- $55 million Community Advance subsidies erode net interest margins by Q1 2027.
- MPF Habitat subsidies trigger credit losses from LMI defaults by mid-2027.
- Member prepayments compress profitability, sparking exodus by Q3 2026.
What makes FHLBank Chicago unique
- FHLBank Chicago administers MPF Program for six FHLBanks since 1997.
- Community First Fund deploys $50 million revolving loans to CDFIs.
- Launched MPF Habitat for Humanity Program with 250 bps discounts in 2026.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
401(k) Company Match
Unlimited Paid Time Off
Paid Holidays
Hybrid Work Options
Company News
Kaba-Baal LLC and partners expand pathways for emerging affordable housing developers. Grantees. Forward Community Investments (FCI) mission of building strong communities starts by investing in the people who will shape them. Across Wisconsin, emerging developers, students, and community leaders are stepping forward with new ideas for affordable housing, and Forward Community Investments Inc is proud to support the pathways that help them succeed. Today, Forward Community Investments Inc is excited to celebrate Kaba Bah of Kaba-Baal LLC, recipient of the Federal Home Loan Bank of Chicago's Community First(R) Developer Program grants. Through this program, the Federal Home Loan Bank of Chicago awarded $5.9 million in funding across Illinois and Wisconsin, supporting more than 110 fellowships and internships at 28 organizations. These investments are designed to strengthen the pipeline of emerging real estate developers who are committed to expanding access to affordable housing and advancing community development throughout the region. One of those investments is a $241,000 grant awarded by FHLBank Chicago and delivered through Forward Community Investments to support Kaba-Baal LLC, a Madison-based development firm founded by Kaba Bah. His work centers on creating homeownership opportunities that strengthen neighborhood stability and help families build long-term security. With these funds from the Developer Program, Bah will create fellowships and internship opportunities that give emerging professionals hands-on experience in affordable housing development. Participants will gain practical exposure to project management, planning, and community engagement. By supporting these experiences, the program helps open doors for individuals who may not otherwise have access to careers in real estate development. It also strengthens the long-term capacity of the affordable housing field by cultivating a diverse and skilled generation of future leaders. FCI is proud to have served as the member sponsor for the grant application, partnering with organizations that are deeply committed to building stronger, more inclusive communities across Wisconsin. Partnering with organizations like the FHLBank Chicago and Kaba-Baal LLC, Forward Community Investments Inc is helping create opportunities that will shape the future of affordable housing. Interested in becoming an FCI Borrower?
FHLBank Chicago launches the Mortgage Partnership Finance(R) Habitat for Humanity(R) Program to expand the supply of affordable housing across Illinois and Wisconsin. New program delivers mortgage rates approximately 250 basis points below market and flexible underwriting to help member institutions support Habitat affiliates and low-to-moderate income homebuyers CHICAGO-(BUSINESS WIRE)-The Federal Home Loan Bank of Chicago (FHLBank Chicago) has launched its Mortgage Partnership Finance(R)(MPF(R) Habitat for Humanity(R) Program, a new community lending offering designed to help member financial institutions partner with Habitat for Humanity affiliates across Illinois and Wisconsin to deliver below-market mortgage financing to low-to-moderate income homebuyers. Through the program, FHLBank Chicago approved members can deliver mortgage loans originated for homebuyers working with Habitat for Humanity affiliates at interest rates approximately 250 basis points below prevailing market rates, with the rate discount funded by FHLBank Chicago, while still receiving premium pricing to help offset the cost of loan origination. The program is backed by $2.5 million in interest rate subsidies, supporting $20-25 million in funded unpaid principal balance in 2026. Program Features and Benefits The MPF Habitat for Humanity Program introduces a standardized, scalable pathway for members to deepen their Habitat partnerships while strengthening their community investment footprint. Key features include expanded underwriting flexibility and seamless integration with existing MPF delivery commitment and funding processes. Accelerating Habitat's Mission Under the traditional Habitat for Humanity model, affiliates return to fundraising after each home delivery, creating delays before the next construction cycle can begin. By selling loans to the MPF Program at below-market rates, members can expand first-mortgage financing capacity, return more capital to Habitat affiliates, and help accelerate the start of the next construction cycle - growing housing supply and enabling more families to achieve homeownership. Why It Matters "Affordable homeownership is one of the most powerful drivers of long-term financial stability for families and communities. Through this program, we're giving our member institutions a meaningful tool to deepen their Habitat partnerships and help more low-to-moderate income families across Illinois and Wisconsin achieve the dream of owning a home," said Patrick Sullivan, Executive Vice President, Group Head, MPF Program. "By delivering mortgage rates approximately 250 basis points below market, we're not just making homeownership more accessible - we're helping Habitat affiliates accelerate their construction cycles and serve more families, faster." "Access to flexible, affordable mortgage financing is essential to helping more families move from paying rent to building equity through homeownership," said Sarah Brachle Wagner, Chief Executive Officer, Chicagoland Habitat for Humanity. "By expanding access to affordable rates and more flexible underwriting, this program strengthens our ability to reach more qualified homebuyers, recycle capital faster, and support more Habitat builds - accelerating stability for families and momentum for the communities we serve," said Peter Lewandowski, Chief Executive Officer, Habitat for Humanity of Wisconsin. The MPF Habitat for Humanity Program complements other existing FHLBank Chicago offerings, including the Downpayment Plus(R)(DPP(R) Program - which provides grants of up to $10,000 for down payment and closing cost assistance - and the Community Advance product, which offers discounted advances of 200 basis points below regular rates for funding affordable housing. Members are encouraged to leverage these offerings together to maximize their community impact. For more information, on the MPF Habitat for Humanity Program, visit fhlbc.com or contact MPF Sales at [email protected]. About the Federal Home Loan Bank of Chicago FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. "Mortgage Partnership Finance" and "MPF" are registered trademarks of the Federal Home Loan Bank of Chicago. To learn more about FHLBank Chicago, please visit fhlbc.com.
The Federal Home Loan Bank of Chicago reported preliminary 2025 results showing net income of $654 million, up from $620 million in 2024. The increase was primarily driven by lower noninterest expenses due to changes in timing and member utilisation of community investment programmes. Total assets grew to $141.2 billion from $129.1 billion at year-end 2024, mainly due to increased advances and investment debt securities. Advances outstanding rose to $61.1 billion from $55.8 billion, driven by increased borrowings from insurance company and depository members. Mortgage loans held through the Mortgage Partnership Finance Programme increased to $14.7 billion from $13.3 billion. FHLBank Chicago accrued $73 million to its Affordable Housing Programme and contributed an additional $27 million towards affordable housing grants and $33 million in community development subsidies.
Welcome to the new FHLBank Chicago website. Federal Home Loan Bank of Chicago is excited to introduce the newly redesigned FHLBank Chicago website - a refreshed, streamlined digital experience built to make it easier than ever for members, partners, and stakeholders to find information, access applications, and stay connected with Federal Home Loan Bank of Chicago. From intuitive navigation to improved search tools and enhanced member resources, the new site is designed around what you've told Federal Home Loan Bank of Chicago matters most. A more intuitive homepage. Its new homepage offers a clear and simple starting point for your journey. Here, you'll find direct pathways to: Whether you're looking for program details, recent updates, or insights from across Illinois and Wisconsin, the homepage now brings all the important info front and center. Centralized access to all applications. One of the most significant enhancements in this redesign is the login experience, directing authorized users to a single, centralized hub with access to any applications you are authorized to access, including: * eBanking * DPP Online * Community Advance * AHP Online (for members and sponsors) * MPF applications Smarter navigation & search. The site's enhanced search capabilities, paired with a more structured layout, help you easily locate program materials, resources, and important information. The new navigation also brings clarity to complex content, giving you faster, more reliable results exactly when you need them. A standout improvement is the unified Products & Programs section, which gathers all lending products as well as housing and community development grant programs into a single, streamlined section. Showcasing impact & member stories. Its new Impact section highlights the tangible results of the work Federal Home Loan Bank of Chicago do together across its district. * Stories and testimonials * Key metrics and data visualizations * Videos and real-world examples of affordable housing, community development, and economic resilience This section brings the human side of its mission to life, celebrating the outcomes made possible through strong partnerships. Member resources - all in one place. Members now have a dedicated hub that brings together: Everything designed to help you stay informed, engaged, and supported. A more powerful news & updates hub. * Bank announcements * Program updates * Community stories * Key insights Simplified filtering makes it easy to find exactly what you're looking for. You'll also find helpful resources like its Media Kit and a Tell Your Story form - an easy way to share your successes with Federal Home Loan Bank of Chicago so Federal Home Loan Bank of Chicago can help amplify your impact. A fresh look at who Federal Home Loan Bank of Chicago is. The updated About Us section provides clearer access to information about its mission, financials, governance, leadership, and the work Federal Home Loan Bank of Chicago do to support its members and their communities. A major highlight is the dynamic Member Directory, which now allows filtering by keyword, location, and charter type - moving beyond static lists to a more functional, user-friendly tool. The Careers area has also been transformed, giving job seekers a deeper look into its culture, open opportunities, and a dedicated page for early-career programs. Explore the new fhlbc.com. Together, these updates create a more modern, connected digital experience for every member and partner Federal Home Loan Bank of Chicago serve. And whenever you need assistance, the Contact Us page - accessible from the upper right corner - is there to guide you to the right support.
FHLBank Chicago launches enhanced Community Advance to boost affordable housing supply and local Development. Streamlined solution delivers faster approvals, expanded eligibility and up to 200 basis points in savings for community projects. The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced the launch of its enhanced Community Advance product, backed by $10 million in interest rates subsidies for 2025 to help member institutions fund affordable housing, support small businesses, and expand access to capital in underserved communities. Responding to member feedback, FHLBank Chicago has consolidated multiple products into one streamlined offering with an improved application experience and expanded eligibility. The enhanced Community Advance provides significant benefits, including: * $10 million in subsidies available for 2025 * Interest rate discounts of up to 200 basis points * Faster approvals through a frictionless online application * No match funding or retention requirements * Expanded eligibility for housing, small business loans, and partnerships with Community Development Financial Institutions (CDFIs) What's new. Members can finance loan originations to, or purchases of loans from, non-depository Community Development Financial Institutions (CDFIs) and nonprofit mortgage originators. All eligible small business loan originations now qualify with no area median income limit. Expanded eligibility also now includes mortgage-backed securities, mortgage revenue bonds and low-income housing tax credits. This product offers tiered subsidized discounts based on financing type, including housing construction and rehabilitation loans, and funding for non-depository CDFIs and nonprofit mortgage originators. Advances are available in both floating and fixed rate advances, with no match funding requirements. Why it matters. "The enhanced product reflects our commitment to being a responsive partner," said Michael Ericson, President and CEO, FHLBank Chicago. "By streamlining our approach and expanding eligibility, we're ensuring our members have the tools and flexibility to make meaningful investments that strengthen communities across Illinois and Wisconsin." The Community Advance also complements other existing FHLBank Chicago products, including the Downpayment Plus(R)(DPP(R) Program and Housing Impact Grid within the Mortgage Partnership Finance(R)(MPF(R) Traditional Program, creating greater value and community-building benefits for members and their communities. Get started. Members can use the online subsidy calculator to estimate their available discount when applying. For more details, visit FHLBank Chicago's Community Advance page. This $10 million investment underscores FHLBank Chicago's ongoing commitment to innovative funding solutions that help member institutions bolster affordable housing supply and strengthen communities across its region.