Who we are:
FHLBank Chicago partners with financial institutions across Illinois and Wisconsin to provide competitively priced funding, support community investments, and deliver value to our members. Created in 1932 as a government-sponsored enterprise, we are a member-owned bank that empowers our members to reinvest in their communities.

What it’s like to work here:
At FHLBank Chicago, collaboration is at the heart of everything we do. From regular All-Staff meetings to our Buddy Program for onboarding new hires, we focus on fostering a connected and inclusive work environment. Through our Office of Diversity, Equity, and Inclusion (DEI), we host events to celebrate differences, identify volunteer opportunities, and promote a culture of growth and belonging. We also offer professional development programs to support your career journey.

What you'll do:

The Senior Specialist, Payments & Member Support supports the daily reliability and continuous improvement of FHLBank Chicago’s payment capabilities—including Wires, ACH, and internal Book Transfers—and contributes to product ownership activities for these payment rails. This role combines strong payment operations expertise with growing product ownership skills, helping shape enhancements, manage small to mid‑sized initiatives, and advance the member experience.

The ideal candidate brings 3–5 years of experience in payments processing, operations, or product support and is ready to take the next step into owning components of the roadmap, defining requirements, and helping strengthen resiliency and controls.

How you'll make an impact:

• Collaborate with a high-performing team that is at the forefront of an evolving technological landscape in the banking industry.

• Facilitate processing of payments (Wires, ACH, Internal Book transfers), in order to provide liquidity to our members and their local communities.

• Manage the accurate and timely resolution of internal and external questions via Salesforce regarding Bank products, accounts, reports, and reconciliations with a high level of service.

What you can expect:

Product Ownership Support (Wires, ACH, Book Transfers)

• Support the product lifecycle: requirements gathering, user stories, backlog grooming, release readiness, and user acceptance testing.

• Conduct impact assessments, maintain business rules and process documentation, and assist with cross‑functional coordination for system enhancements.

• Help track KPIs, identify trends, and recommend improvements to increase efficiency, accuracy, or member satisfaction.

• Assist in preparing communications, training materials, and internal guidance for new features or operational changes.

Payments Operations

• Perform daily processing and monitoring for Wires, ACH, and Book Transfers, ensuring accuracy, timeliness, and adherence to internal controls.

• Manage payment exceptions, returns, and investigations and support end‑of‑day and cutoff activities.

• Collaborate with Technology partners to address issues, validate fixes, and maintain operational readiness.

Risk, Compliance & Controls

• Follow and help enhance first line controls, including reconciliations, callbacks, entitlements, segregation of duties, and workflow documentation.

• Ensure adherence to applicable rules and guidelines (e.g., NACHA, OFAC, Fedwire Operating Circulars, internal policies).

• Participate in audits, exams, and risk assessments by preparing evidence and supporting remediation activities.

Member & Stakeholder Support

• Act as a payment operations subject matter resource for internal partners and member institutions.

• Support Member Services with payment‑related inquiries, cases, and documentation.

• Help deliver clear, consistent communication to members regarding operational changes, cutoffs, or enhancements.

Continuous Improvement & Projects

• Participate in department process reviews, efficiency initiatives, and operational readiness efforts.

• Contribute to projects involving payment platform enhancements, control improvements, resiliency activities, and change management.

• Assist in developing and maintaining SOPs and playbooks.

What you'll bring:

• 4-7 years of experience in payments operations, treasury operations, or payment product support within a bank, financial institution, or payment provider.

• Working knowledge of Wires (Fedwire), ACH (NACHA), or internal transfer processes, including exceptions and returns.

• Strong attention to detail, operational discipline, and familiarity with risk/control concepts.

• Some experience with requirements gathering, UAT, or change management.

• Strong problem-solving, analytical, and communication skills.

• Ability to work cross‑functionally in a fast‑paced, time‑sensitive environment (especially during cutoffs).

• Experience supporting institutional or wholesale payment operations.

• Exposure to NACHA rules, OFAC workflows, fraud prevention, or BSA/AML processes.

• Familiarity with Tableau, Databricks, or other workflow/analytics tools.

• Certifications (e.g., Lean Six Sigma, Agile training) are a plus.

• Understanding of ISO 20022 formatting is helpful but not required.

• Operational Excellence: Reliable execution and disciplined adherence to procedures.

• Risk Awareness: Understands payment risks and follows control protocols closely.

• Curiosity & Growth Mindset: Actively builds knowledge of payments and product ownership.

• Collaboration: Works effectively across Operations, Technology, Risk, and Member‑facing teams.

• Analytical Mindset: Uses data to identify issues and recommend improvements.

• Clear Communication: Translates payment details into understandable guidance.

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:

$62,775.00 - $104,675.00

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