Member Funding Desk Internship (6 months)

Member Funding Desk Internship (6 months)

Location Boston

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To apply for this position, please read the instructions for the Employment History section. Make sure to enter SCHOOL as an employment option to help you account for the required work history, if necessary.

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 225 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.

Internship Summary

This internship is scheduled for up to 6 months. Applicants available on a full- or part-time basis for this period will be considered.

Interact with Bank members to support their requests for information and transactions as part of the Bank's Member Funding Desk. This small team is comprised of 3 full-time employees and some rotational back-up coverage. This hands-on role requires someone comfortable managing heavy call-volume throughout the day.

This internship is ideal for a current student or recent/new degree holder. Training will be offered. The core functions of this internship, in addition to providing professional work experience, are as follows:

• Customer service activities

• All aspects of the marketing of advance products

• Technical resource

We do not sponsor work authorization for internships.

This position is classified as sensitive. A credit check will be performed as part of a background check.

This role may have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. Interns are encouraged to work in the office as much as possible to enhance their overall experience and learning.

Anticipated Pay Range

The hourly pay rate for this role is $30 per hour (Undergraduate education level) or $35 per hour (Graduate education level). This role is classified as non-exempt.

This role is based in Boston with weekly in-office expectations. The base pay posted represents the hourly wage range that we offer for this job opportunity.

Bank-paid temporary positions, such as Internships, are eligible to participate in limited benefit offerings following 90 days of employment.

For more information on the Bank’s Total Rewards, visit Careers - FHLBank Boston (https://www.fhlbboston.com/about-us/careers/)

Specific Responsibilities

Sales and Marketing duties:

• Direct marketing of advance products to members

• Interact with active borrowing members (heavy phone work)

• Gather insight into members funding requirements

• Identify potential sales opportunities

• Recommend FHLB credit products as competitive alternative to wholesale and retail funding sources

• Communicate member funding need

Serve as a Technical Resource for our Member Institutions:

• Serve as a market information resource for the member

• Handle technical questions

Market Research duties:

• Maintain product and member databases for the purpose of tracking product demand, credit product sales and competitive funding strategies

Principal Accountabilities:

• Interact with the Bank’s active borrowing members via telephone / e-mail. Active involvement in all aspects of the marketing of advances products, take advances orders, work directly with related FHLB staff to communicate member needs and product profiles.

• Support market research efforts to update and maintain product and member databases and related market research efforts. Work with the Member Funding Desk Manager and Relationship Managers to develop and make effective communications/ presentations to members on profitable uses of FHLB credit products.

• Provide technical support to the Member Funding Desk and Sales and Development Staff and support all Member Funding Desk activities.

• Other duties, as assigned.

Qualifications

Education

• Recent or newly awarded, or pursuing a degree in a relevant field of study is strongly preferred. Applicants with a demonstrated interest and aptitude for the work we do are invited to apply.

Knowledge/Skills

• Financial services / banking industry experience required. (Prior internship or co-op experience counts)

• Experience/comfort working in a time-sensitive, high-volume work environment.

• Experience/comfort with significant inbound/outbound call activity is strongly desired.

• Effective, clear communication skills are required.

• Strong computer proficiency is required.

• Strong detail-orientation required.

• Experience with capital markets and/or asset liability management a plus.

The highest priority is to find someone who can communicate, is comfortable with job responsibilities including phone calls and has strong computer proficiency. The majority of the need will be reactive, especially out of the gate. Should the individual show an ability or interest to be involved with the outbound calling and strategic initiatives, then we would consider supporting this over time.

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.

Applications are being accepted on the Careers page of our website: www.fhlbboston.com

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