Manager, Payment Operations

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.

• Retirement program (401k and Pension)
• Medical, dental and vision insurance
• Lifestyle Spending Account
• Generous PTO plan
• 11 paid holidays per year
• Hybrid working model

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. 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. Through our Office of Diversity, Equity and Inclusion (DEI), we host signature and employee-led events to celebrate our differences and learn from each other and identify volunteer opportunities to strengthen our communities;

and Employee Resource Groups (ERGs) and culture teams 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 :

As our Manager of Payment Operations, you'll be at the forefront of our financial operations, ensuring seamless cash management across the Bank.

This role will primarily be responsible for monitoring, reconciling, and managing all cash movements in and out of the Bank.

You'll collaborate with Treasury, Accounting, and Bank Operations to streamline cash flows and modernize our cash processing systems.

This role is an opportunity to shape the future of our cash management processes at the Bank.

How you'll make an impact :

• The candidate who fills this role will plug a knowledge gap the Bank currently has regarding the optimization of our payment systems, processes, and innovative methods to adapt to the changing technological landscape
• This candidate will guide the Bank toward more efficient ways of executing payments in and out of the Bank and can be a model for other HLB's in their cash management journey
• This candidate will make daily operational life easier for Bank Operations as cash management processes will be streamlined and standardized

What you can expect :

• Take ownership of all cash management related processes and policies, ensuring their efficiency and effectiveness
• Manage and enhance all cash reports, working closely with other departments to meet their cash reporting needs
• Oversee automated cash reconciliations, troubleshoot issues, and ensure smooth operations
• Define and implement the function and necessary production organization to carry out business objectives
• Drive new ideas and thought leadership to advance the cash management function and contribute to FHLBank Chicago's success
• Update and modernize cash processes in line with evolving vendor technologies and industry trends
• Collaborate with Sales Directors to ensure member satisfaction and transparency of all their cash flows
• Serve as the key contact for cash-related examinationsand audits,
• Serve as the key contact for vendors associated with cash, i.e., wires, ACH, safekeeping, etc.
• Oversee all metrics and controls associated with cash flows, ensuring alignment with industry standards
• Ensure changes match industry trends and client expectations in terms of partnering with technology and service delivery

What you'll bring :

• 7+ years of experience in banking or financial services
• 1-3 years of leadership experience
• Experience contributing to the development of functional / operational long-term strategy and developing business plans to ensure alignment
• Strong process and operations management with the ability to lead across the organization
• Broad Cash Management industry knowledge and awareness to drive financial performance
• Excellent communicator with strong collaborative skills, capable of engaging with stakeholders at all levels
• Requires deep functional knowledge of the entire Payments ecosystem, including but not limited to : Payments and Cash, Wires, ACH
• Demonstrated ability to lead across various functions and drive process improvements
• Extensive experience in process and operations management, with the ability to establish robust controls and documentation
• Proven thought leadership and the ability to introduce and implement transformative ideas in cash management

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 generous 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.

Step into a brighter future with us. #LI-Hybrid