Bank Operations Project Manager

Bank Operations Project Manager

Website Federal Home Loan Bank of Boston

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 200 is diverse, 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

Primary focus is to represent Bank Operations on both technology and business driven projects. The incumbent will coordinate and manage Bank Operations resources and identify and drive objectives in collaboration with peers and stakeholders to achieve optimal and timely results.

Subject matter expertise will include technology and processes supporting capital market and Investment management systems and processes while supporting compliance with policies, procedures and programs.  Products supported include investments, borrowing, collateral management, Federal Reserve wire payments, corporate actions, securities clearance/settlement, member owned stock management, deposits, lending, and reporting.

Incumbent may also manage or play a key role in broader Bank projects.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. More time will be encouraged in the office to support onboarding initially. Incumbent must be flexible with schedule to respond to operational events that may interrupt or be outside of normal business hours.

Specific Responsibilities

·       Manage complex project including system enhancements and vendor replacements to ensure the tool has been fully vetted and tested before implementation, coordinate after implementation follow up including resolving production issues and manage ongoing vendor relationship

o   Project efforts immediately in scope are associated with Fedwire and include:

§  Fedwire back-up solution.

§  Multiple technology solutions to enhance operational workflows that impact Fedwire transaction flows.

§  Build out reusable test suite for Fedwire applications – both primary and secondary solutions.

§  In partnership with Technology consultant, automate primary Fedwire application QA and UAT testing

§  Upgrade(s) to primary Fedwire application

§  ISO 20022 readiness

·         Demonstrate broad understanding of the Bank’s mission and related businesses and how it relates to Bank Operations roles and responsibilities

·         Demonstrate a thorough understanding of the department’s strategy and responsibilities

·         Review/revise department procedures in line with regulatory and/or effective workflow requirements. Serve as an expert resource on operation needs for the group

·         Manage the assignment of responsibilities and resources for the effective development of project plans and assure the timely completion of projects

·         Delegate responsibilities and value-added tasks to team members

·         Incumbent will position themselves to mentor others

·         Promote, create and implement policies and procedures

·         Provide coaching and guidance and ensure the departments training/resources needs are addressed

·         Collaborate with stakeholders to effectively identify solutions to develop and manage complex processes

·         Resolve complex issues and respond to requests to assure that responses and associated Bank Operations responsibilities add value to the topic at hand

·         Employ best practices to support a robust operating/control environment in consideration of regulatory and policy requirements

·         Work with other FHLBanks and industry professionals to identify and act on opportunities for collaboration

·         Manage vendor relationships

·         Serve on various committees both internal and external to the Bank

·         Collaborate with stakeholders to ensure department functions  consistently  meet  high-quality standards

·         Develop and maintain culture and work practices aimed at continuous improvement of department functions

·         Demonstrate effective and constructive collaboration with internal/external auditors enterprise risk management personnel, and regulatory examiners.

·         Actively engage in selected initiatives outside of the scope of Bank Operations and remain aware of key initiatives affecting the bank and the Federal Home Loan Bank system

·         Demonstrate sound judgement – even when faced with ambiguity – when making key decisions balancing analysis, experience, and judgement

·         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



·         10+ years’ project and/or staff management experience in financial services operations including wires; Treasury or Capital Markets operations experience preferred

·         Excellent communication skills – written and verbal as demonstrated through clear, concise communication

·         Ability to independently manage multiple operational disciplines/priorities/projects ff Demonstrates emotional intelligence when working independently or in teams

·         Demonstrates an aptitude for learning and development in dynamic operating and technology environments

·         Demonstrates taking initiative to drive for positive results within and/or outside of immediate responsibilities

·         Demonstrates the ability to think creatively and analytically to solve complex problems and identify opportunities to improve or implement processes and controls

·         Demonstrates ability to design and translate requirements into tactical, actionable plans.

·         Strong leadership skills – excellent management/coaching/delegation skills

·         Strong operational control experience – specific understanding and application of industry best practices with regard to effective operational control infrastructures

·         Demonstrate ability to work under pressure to meet time sensitive deadlines



·  Degree or equivalent work experience is required


The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. 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.

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