Bank Operations Manager Jobs in Massachusetts (NOW HIRING)

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.
Our highly skilled team of 220 is innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.
Position Summary
The internal job title will be (Senior) Bank Operations Specialist. This position is classified as sensitive. Sensitive positions are subject to a credit check as part of the background verification.
The focus of this recruiting effort is a Senior Bank Operations Specialist, yet we will consider hiring at the Bank Operations Specialist level.
Our dynamic small Bank Operations function offers the opportunity for an experienced professional to be cross trained to cover multiple product lines. This role adheres to a rotational schedule for all Bank Operations Specialists to support training, to deepen skill and product line knowledge. The incumbent will demonstrate operations subject matter expertise with regard to responsibilities that include the execution and/or management of the operation and assuring the integrity of the Bank's Investment, funding, member, correspondent services activities. In addition to product knowledge, a Senior Bank Operations Specialist will also demonstrate effective independent critical thinking skills and effective communication and interpersonal skills for a hybrid work environment.
The incumbent performs work both independently with regard to accomplishing all responsibilities as part of a team in a highly collaborative manner and with key stakeholders. The role may focus on resolution of complex problems or transactions where expertise is required to interpret against policies, guidelines or processes. This team operates with a rotational schedule across disciplines (inquiry management, cash management, security management and derivative management) in 3-month intervals based on experience, to build broad expertise.
Responsibilities include some combination of the following: Capital Market and Investment Management Operations (e.g. transaction management, collateral management, payments, corporate actions, securities clearance/settlement, fixed income and derivatives, member owned stock management and reporting), the Business Continuity Program and the Records Management Program.
The incumbent may be designated as having primary responsibility for Bank Operations related project initiatives or programs and may have a leadership role in broader based project initiatives as a subject matter expert.
The incumbent may also have responsibility for compliance/control/reporting related functions that include business resumption administration/planning, KRI/operating metrics reporting, records management, and other overarching Bank Operations related responsibilities.
The standard work hours are 40 hours per week, additional hours may be required. This role will have a hybrid work schedule in our Boston office, however, will require more time in office than the general requirements of the Bank's Hybrid Work Program to support onboarding/training and occasionally for business needs.
Anticipated Pay Range
The anticipated base pay range for the Senior Specialist role is $80,500 - $132,250.
The anticipated base pay range for the Specialist role is $62,050 - $94,900. This role is classified as non-exempt.
This role is based in Boston with weekly in-office expectations. The base pay posted represents the annual base pay range or hourly wage range that we expect to offer for this job opportunity. The actual base salary offer will depend on a variety of factors including relevant experience, required skills and other relevant factors. The range noted here is not indicative of all positions in the job grade within which this position falls.
All Bank full-time positions are eligible to participate in our annual incentive program and our robust total rewards offerings, in addition to the base pay.
For more information, visit Careers - FHLBank Boston
Senior Specialist Responsibilities

• Demonstrate broad understanding of the Bank's mission and related businesses and how it relates to Bank Operations roles and responsibilities.
• Demonstrate subject matter expertise in multiple Bank Operations roles/responsibilities as each team member is cross trained to cover multiple product lines.
• Serve as an expert resource on operational needs for the group and Bank.
• Analyze processes and establish and document operating procedures in consideration of best practices and in collaboration with subject matter experts.
• Collaborate with stakeholders to effectively identify solutions to develop and manage complex processes. Apply analytical approach to resolve issues and respond to requests to assure that responses and associated Bank Operations responsibilities add value to the topic at hand.
• Escalate issues that impact workflow/resources; identify and propose solutions; initiate and act on appropriate course of action to complete/resolve.
• Identify and manage exceptions to resolution. Identify exception root cause, present and implement solutions as appropriate to mitigate risk.
• Understand, participate in, and work in accordance with Bank Operations operating strategy.
• Analyze operating KRI/metrics for trends and anomalies - follow up as appropriate to assure complete reporting and escalation.
• Engage in projects as identified by self and/or as approved by appropriate management and/or committee as defined by operating policies and procedures.
• May take on team lead or project lead responsibilities.
• Proactively seek opportunities for their own self-development leveraging tools, training, and resources both internally and externally available to them for their own professional growth.
• Other duties as assigned.

Knowledge/Skills

• Must be comfortable and confident in a role where work assignments or focus will/may change periodically given the rotational structure in place for this team.
• Familiarity with custody and securities servicing operations, including trade lifecycle events such as settlement, corporate actions, asset servicing, and/or cash processing.
• Demonstrated aptitude for attention to detail and accuracy.
• Demonstrated ability to think creatively and analytically to solve complex problems and identify opportunities to improve existing management, processes and controls.
• Proactive in driving improvements and streamlining processes.
• Demonstrated effective communication and interpersonal skills for a hybrid work environment, especially clear, concise communication skills in both written and verbal forms
• Ability to independently manage completion of multiple priorities in accordance with timeframes and expectations.
• Demonstrate emotional intelligence when working independently or in teams.
• Demonstrates an aptitude for learning and development in dynamic operating and technology environments.
• Demonstrate competencies with new and/or existing technologies/platforms.

Experience

• We are willing to provide training for someone who brings the right foundation to this role. We are seeking appropriate or transferable technical and interpersonal skills as part of the foundation.
• For the Senior title, a minimum of 5 years work experience is required, in a relevant banking operations environment is strongly preferred.
• Demonstrated experience or success being able to pivot work responsibilities or assignments or working in a rotational schedule/structure is critical to success in this role.
• To be considered at the Specialist level, at least 3 years of experience working in financial services; Treasury or Capital Markets operations experience preferred and operational control experience is required.

As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.