Project Analyst, Bank Operations

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. As a cooperative, we are owned by banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding annually. Our funds help members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

About the role

Primary focus is to represent Bank Operations on both technology and business-driven projects. The incumbent will drive objectives in collaboration with internal stakeholders to achieve optimal and timely results. This role involves assessing and documenting gap analysis of current processes and pain points to ensure insights are incorporated into system, process, or workflow improvements. Additional responsibilities include requirements documentation, UAT testing, defect identification, solutioning, reporting, and leading go-live readiness and execution.

Subject matter includes technology and processes supporting capital market and investment management systems, while assisting 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. This role may also manage or play a key role in broader Bank projects.

This position is classified as sensitive and is subject to a credit check. The role has a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program, with more time expected in the office initially to support onboarding.

Responsibilities

• Drive complex wire system upgrades and enhancements.
• Demonstrate broad understanding of transaction management processes to translate vendor changes and appropriately isolate test case inventory.
• Execute all UAT testing through completion.
• Translate business objectives related to BAU systems into actionable project plans for vendor projects and provide status updates to Bank Ops leadership.
• Document GAP analysis based on system changes to ensure all STP and non-STP functions are considered.
• Administer information sessions with BAU SMEs to assess system changes relative to business objectives.
• Accountability for defect identification and solutioning with vendors to ensure timely root cause analysis and resolution.
• Demonstrate critical thinking to resolve complex issues or bespoke processes and present recommendations to vendors and/or management.
• Consult and inform BAU team with high-confidence testing results and provide training sessions on changes to BAU procedures, training guides, and FAQs.
• Conduct handover office hours for the BAU team.
• Deliver go-live readiness on projects, including timely communication to internal stakeholders through final execution.
• Accountability for go-live production issues with relevant stakeholders, such as vendors and internal technology, driving through to solution or workaround identification.
• Participate in the analysis of potential vendor replacements by performing gap analysis of potential vendor functionality versus current STP wire system capabilities.
• Demonstrate broad understanding of the Bank’s mission and related businesses and how it relates to Bank Operations roles and responsibilities.
• Review/revise department procedures in line with regulatory and/or effective workflow requirements.
• Serve as an expert resource on operational needs for the group.
• Collaborate with stakeholders to effectively identify solutions for developing and managing complex processes.
• 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.
• Collaborate with stakeholders to ensure department functions consistently deliver high-quality standards.
• Develop and maintain a culture and work practices aimed at continuous improvement of department functions.
• Participate in initiatives outside the scope of Bank Operations as requested.
• Demonstrate sound judgment—even when faced with ambiguity—when making key decisions balancing analysis, experience, and judgment.
• Proactively seek opportunities for self-development by leveraging tools, training, and resources for professional growth.
• Other duties as assigned. Hours may vary based on project deadlines, requiring flexibility to ensure deliverables are met.

Requirements

• Bachelor’s degree or equivalent.
• 5-10+ years’ operations experience with project analysis and implementation experience in financial services operations related to wires; Treasury or Capital Markets operations experience preferred.

Skills

• Excellent communication skills—written and verbal—as demonstrated through clear, concise communication.
• Experience with Azure/DevOps platform.
• Ability to independently manage multiple operational disciplines, priorities, and projects.
• Demonstrates emotional intelligence when working independently or in teams.
• Exhibits an aptitude for learning and development in dynamic operating and technology environments.
• Takes initiative to drive positive results within and/or outside of immediate responsibilities.
• Ability to think creatively and analytically to solve complex problems and identify opportunities to improve or implement processes and controls.
• Ability to design and translate requirements into tactical, actionable plans.
• Strong leadership skills—excellent management, coaching, and delegation skills.
• Strong operational control experience—specific understanding and application of industry best practices regarding effective operational control infrastructures.
• Demonstrated ability to work under pressure to meet time-sensitive deadlines.

Pay

The anticipated base pay range for this role is $80,500 - $132,250 annually. The actual base salary offer will depend on factors including relevant experience, required skills, and other considerations. This role is based in Boston with weekly in-office expectations.

Benefits

All Bank full-time positions are eligible to participate in our annual incentive program and robust total rewards offerings, in addition to the base pay. For more information, visit Careers - FHLBank Boston.