Middle Office Support Specialist

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
* 11 paid holidays per year
* Hybrid working model (effective February 22, 2022)
* Casual dress code

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

In this entry level role as a Middle Office Support Specialist, you'll be responsible for ensuring that there is a continual focus on control throughout the trade process; monitoring trades and amendments to ensure they are booked correctly. Products traded range from debt securities, short and long term investments, futures, swaps and TBAs.

How you'll make an impact:

• Ensuring timely and accurate trade and hedge entry has a direct effect on downstream financial reporting for the Bank
• Contribute to a high performing team that is continuously striving to improve on operational excellence in their day to day responsibilities

What you can expect:

• Work with other Middle Office team members to ensure the timely, accurate entry and verification of all trades entered into the Summit system
• Perform necessary Middle Office tasks to ensure stability of work and have direct contribution to operational control framework
• Amend positions in systems (including input, cancellations, edits of trades, etc) according to the defined procedure and event
• Perform and review necessary reconciliations and investigate any outstanding reconciling items, which may include communicating with external counterparties
• Monitor compliance with policies and limits
• Daily interaction and communication with trading desks on executed trades
• Understand system flow and front to back operations of trade processing, including settlements and confirms
• Investigate transaction issues and ensure all issues are dealt with effectively and resolved accordingly in a timely manner
• Ongoing enhancement of existing processes and procedures
• Assist with ad hoc inquiries

What you'll bring:

• A Bachelor's Degree, preferably in Accounting, Finance, or Information Systems is strongly preferred
• Advanced knowledge of Microsoft Excel. Experience converting existing Excel based reports and tools into more formal, controlled operational reports in SSRS. Knowledge of Microsoft Access queries a plus
• Experience in SQL coding, data analysis, strong understanding of relational database design a plus
• Knowledge of Summit system experience, understanding of Summit trade configuration and setup a plus
• Programming background in VBA, a plus
• Strong communication skills and comfortable cultivating relationships with peers and all levels of management
• Detailed-oriented with the ability to independently prioritize and manage competing priorities, identify and resolve issues with limited supervision
• Analytical and quantitative aptitude
• Adaptability to learn new tasks & demonstrate willingness to understand the details of a process
• Ability to examine a process and explain it to others
• A trusted, reliable and creative team member

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.

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