FHLB Chicago Reviews | Glassdoor

FHLB Chicago Reviews

Updated August 16, 2017
41 reviews

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3.9
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Matt Feldman
22 Ratings

41 Employee Reviews

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  1. "SVP"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Positive Outlook
    Approves of CEO

    I have been working at FHLB Chicago full-time

    Pros

    Best place for conversations on diversity in Chicago financial services industry

    Cons

    Culture is very soft and tolerant of weak performance


  2. Helpful (1)

    "Management Failure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Engineer in Chicago, IL
    Former Employee - IT Engineer in Chicago, IL
    Doesn't Recommend
    Negative Outlook

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

    Pros

    A good culture of hard-working individuals, outside of technology. The Bank "does good things" for the communities, no doubt.

    Cons

    Management in IT is filled with micro-managers unable to let control go of projects. Teams work in "agile/scrum" methodolagies, but all decisions are constantly micro-managed by PO/manager combinations (yes, frequently a team manager will also be the PO). Management also is not capable of conflict resolution. Finally, there is no holistic direction of technology; it's all what is hot and new.

    Advice to Management

    Fire most assistant-VP and assistant director levels and start fresh. Work on hiring talent based on technical skills, not based on a arbitrary "technical skill test" you proctor to candidates.

  3. "Great Place to Work"

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

    I have been working at FHLB Chicago full-time (Less than a year)

    Pros

    The Federal Home Loan Bank of Chicago is a great place to work. Not only is the company mission-focused, but they really care about employee growth and satisfaction. I feel lucky to work with such intelligent people each day.

    Cons

    I don't think there are any major cons to working at FHLBC.


  4. "I wish more people knew about the FHLBC!"

    StarStarStarStarStar
    • 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

    I have been working at FHLB Chicago full-time

    Pros

    Competitive salary/bonus, fantastic benefits, laid back work environment, super friendly employees. Management truly cares about the employees here.

    Cons

    None that I can think of.


  5. Helpful (1)

    "Superb Employer"

    StarStarStarStarStar
    • 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


  6. Helpful (1)

    "Analyst"

    StarStarStarStarStar
    • 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.


  7. "Member Product and Support Rep"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at FHLB Chicago full-time (More than 10 years)

    Pros

    Good employer and Great benefits.

    Cons

    Not fair in certain areas of the bank.

    Advice to Management

    Also rate people on their experience as well as education.

  8. Helpful (3)

    "Lost Potential"

    StarStarStarStarStar
    • 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.


  9. Helpful (3)

    "Accountant"

    StarStarStarStarStar
    • 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.


  10. Helpful (1)

    "Technology"

    StarStarStarStarStar
    • 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.


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