Middle Office Support Specialist

Middle Office Support Specialist

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.

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.

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.

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.

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

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

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

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.

Salary Range : $55,825.00 - $83,725.00