Middle Office Support Specialist

Who we are

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

What it’s like to work here

At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.

What you'll do:

The Middle Office Support Specialist is an entry level role, responsible for timely and accurate trade entry into the Bank’s core operating software. The role requires ensuring that there is a continual focus on control throughout the trade process; overseeing the entire trade lifecycle including trade reconciliation, confirmation, and settlement. Products traded range from debt securities, investments, futures, swaps and TBAs.

How you'll make an impact:

• Facilitate the processing of all the Bank’s capital market related transactions which have a direct impact on downstream financial reporting

• Enhancing efficiency through collaboration with multiple stakeholders by continually seeking ways to streamline processes and improving workflows

• Contribute to operational excellence by maintaining a strong control environment throughout the trade lifecycle, reducing errors, and supporting compliance with internal policies

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

• Daily interaction and communication with trading desks on executed trades

• Work closely with accounting to resolve any accounting related breaks

• 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:

• Bachelor's Degree, preferably in Accounting, Finance, or Information Systems or 1-3 years of equivalent experience

• Intermediate MS Office skills in Excel, Word, Outlook. Pivot table analysis and building macros with VBA 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

• Knowledge of financial transactions including fixed income and derivatives

• 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, we believe in rewarding our high performing workforce. 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 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.

Salary Range:

$55,825.00 - $83,725.00

The above represents the expected salary range for this job requisition.  Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc