FHLB Chicago Reviews | Glassdoor

FHLB Chicago Reviews

Updated February 11, 2017
36 reviews

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Full-time Part-time

3.8
Star Star Star Star Star
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Matt Feldman
19 Ratings

36 Employee Reviews

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  1. Featured Review

    Helpful (6)

    "SVP"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Vice President
    Current Employee - Senior Vice President
    Positive Outlook
    Approves of CEO

    I have been working at FHLB Chicago full-time

    Pros

    FHLB Chicago is the leading firm in mortgage finance in Chicago and has extremely low turnover mainly because the pay is banking market level, it has a great pension and the firm does a lot of altruistic work in the community.

    Cons

    Virtually no one knows what the FHLB Chicago does or how large we are and we are often confused with the Federal Reserve Bank of Chicago


  2. "Superb Employer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Operations Analyst in Chicago, IL
    Former Employee - Loan Operations Analyst in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at FHLB Chicago full-time (More than a year)

    Pros

    The bank puts their employees first. The environment provides both that of professionalism/business along with the feeling of a second family. Great place to start, build, and continue a career pending your interest. Wonderful place to learn and explore new opportunities. The culture and people are excellent.

    Cons

    None that I can personally think of.

    Advice to Management

    n/a


  3. "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at FHLB Chicago full-time (More than 3 years)

    Pros

    Work life balance and fair compensation, but it depends on the area you work in with the Bank.

    Cons

    Avoids the need for additional resources, no clear path or encouragement toward promotion

    Advice to Management

    Management needs more development in order to be effective leaders.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    "Lost Potential"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Decline to Say in Chicago, IL
    Former Employee - Decline to Say in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    The companies vision of what it wants to be and what it wants to offer is spot on. It's benefits and work life offering are really good. The company has the potential to be a great place to work if it can remove some major impediments.

    On paper (de jure) this should be one of the best companies to work for in the city.

    Cons

    There are some departments with toxic environments, employees that appear to be disingenuous and management that appears to be detached at times. These dealings significantly damage an otherwise promising company with a superb work life balance.
    Also the HR department is hit or miss much like the management, sometimes very responsive and at other times careless.

    The company as a whole still seems to have culture identity. The defacto reality of the company is very different and actually very unfavorable compared to it's de jure ambitions and on paper benfits.

    Advice to Management

    Mean what you say and say what you mean.
    FHLBC was molded into a very different organization in a very short amount of time. That new organization is far better in dream and reality then what came before it. However there are times when the FHLBC is just "going through the motions" of being a great place to work instead of just being a great place to work.
    I would pay closer attention to documenting your turnovers, regardless of if employees are terminated, laid off or quit. I would conduct exit surveys of every employee and watch out for management politics. A large number of office politics motivated stuff has happened and it creates a hostile work environment.

    Also the IT department leadership is so committed to diversity and inclusion that excludes people with conservative political views. Harsh things have been said about conservatives at FHLBC. It is not a comfortable work environment as pockets of management show clear favoritism at times.

    The Finance team, members and markets and other departments seem to have a better sense of Identity then IT does, hopefully IT sorts out it's culture issues.


  6. Helpful (1)

    "Accountant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Staff Accountant in Chicago, IL
    Current Employee - Staff Accountant in Chicago, IL
    Recommends
    Positive Outlook

    I have been working at FHLB Chicago full-time (More than 3 years)

    Pros

    Benefits/Hours/Ease of Work/Great Managers/People are friendly

    Cons

    No room for advancement. It is all about who you know rather than what you know.

    Advice to Management

    Some managers are amazing. They are there to mentor you; however, your work and development does not matter. Again it is all about who you know rather than what you know.


  7. Helpful (1)

    "Technology"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Positive Outlook
    No opinion of CEO

    I worked at FHLB Chicago full-time (More than 3 years)

    Pros

    Challenging environment and great benefits. Excellent investment in staff through training. Great work life balance.

    Cons

    It's a pretty bureaucratic company with silos and certain areas of the bank favored over shared service organizations. Management somewhat detached.


  8. Helpful (2)

    "Mixed Bag"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    FHLBC has so many dedicated employees. Employees that want to work hard, learn and grow. They hold each other to a high standard. Work life balance is great for most departments, and the company seems to want to stay on top of delivering the best benefits to attract the brightest and best.

    Cons

    The only con- HR. The HR department seems to be a mess. The Business Partners are never around, they are either- on vacation or working from home. When they do happen to be in the office, 9:30 is the earliest you will see them. I have had several hiring issues, and have sent calendar invites for meetings that are completely disregarded.
    The inappropriate conversations, the constant reminder that the companies they left behind did things better, the unprofessional way they speak with employees and the nepotism is beyond anything I have encountered at any other organization.

    Advice to Management

    Look into HR.


  9. Helpful (1)

    "Customer Service"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Approves of CEO

    I worked at FHLB Chicago (More than 10 years)

    Pros

    One of the best companies I ever worked for and they pay you top $$$$.

    Cons

    A lot of favoritism within the department.

    Advice to Management

    Hire more knowledgeable managers!


  10. "Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great benefits, room for advancement, ability to grow.

    Cons

    Creativity isn't valued as much as it should be. You're working in a very highly regulated industry.


  11. "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook

    I worked at FHLB Chicago full-time

    Pros

    Everyone is very friendly and there is a good work life balance. 8-5 with an hour lunch. Pay is standard.

    Cons

    Kind of slow going.



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