Manager Financial Planning & Analysis - Information Technology

The Federal Home Loan Bank of Chicago; Chicago (IL); On-site; USD 126,000 - 221,000; Full time

Benefits offered by this job

Retirement program (401k and Pension)

Medical, dental and vision insurance

Lifestyle Spending Account

Competitive PTO plan

11 paid holidays per year

Job summary

The Federal Home Loan Bank of Chicago is seeking an FP&A Manager for Information Technology to lead budgeting, forecasting, and performance management for the IT organization. You will partner with IT leadership to translate strategy into financial targets and ensure cost transparency and strong reporting.

In this role you will drive scenario analysis, monitor variances, and support investment decisions while aligning IT spend with strategic priorities.

Qualifications

• Bachelor's degree required; MBA/CPA/CFA preferred.
• Experience leading budgets and forecasts in IT
• Strong financial modeling and Excel skills
• Ability to communicate financial concepts to IT leaders and project managers

Responsibilities

• Lead FP&A for IT, including budgeting and forecasting.
• Partner with IT leadership to translate technology strategy into targets and roadmaps.
• Provide variance analysis and cost transparency for IT spend.
• Support executive-level reporting and decision making.
• Strengthen financial discipline and standardize budgeting/forecasting processes.

Skills

Budgeting

Forecasting

Financial modeling

IT finance

Excel

Communication

BI tools

IT cost control

Vendor spend

Scenario analysis

Education

Bachelor's degree in Finance, Accounting, Economics, Information Systems

MBA/ CPA/ CFA preferred

Tools

BI tools

Job description

Benefits

• Collaborative, in-office operating model
• Retirement program (401k and Pension)
• Medical, dental and vision insurance
• Lifestyle Spending Account
• Competitive PTO plan
• 11 paid holidays per year

Who we are

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

What it's like to work here

At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.

What you'll do

The FP&A Manager - Information Technology is responsible for leading financial planning, forecasting, and performance management in support of the Bank's IT organization. This role partners closely with IT leadership to translate technology strategy, operating plans, and delivery roadmaps into disciplined financial targets, while ensuring strong cost transparency, data integrity, and actionable insights. The role serves as the primary finance business partner for IT, supporting investment decisions, resource allocation, and executive level reporting in a regulated financial institution.

How you'll make an impact

• Drives informed IT investment decisions by delivering clear budget-to-actual and forecast variance analysis, identifying key cost drivers, trends, and emerging risks across technology spend.
• Provides forward looking insights through scenario and sensitivity analysis to support prioritization of IT initiatives, capacity planning, and funding trade offs.
• Acts as a trusted finance partner to IT leadership, advising on cost management, vendor spend, project timing, and run the bank versus change the bank investments.
• Strengthens accountability by linking financial results to IT operational drivers, project delivery milestones, and service outcomes.
• Enables executive and Board visibility into IT financial performance through consistent, high-quality management and executive reporting.
• Improves financial discipline and transparency by standardizing IT budgeting and forecasting assumptions, methodologies, and documentation.
• Ensures alignment across Finance by partnering with Accounting on capitalization, expense treatment, and reconciliation between planning outputs and financial reporting.
• Enhances efficiency and control by identifying automation opportunities and improving FP&A processes supporting IT.

What you can expect

• Lead the annual budget and planning process, including timeline management, assumption development, and cost center inputs, with a focus on establishing a framework that supports in-year funding decisions through quarterly reviews and scenario-based tradeoff analysis.
• Conduct regular technology spend and funding reviews with IT, leveraging actuals, forecasts, and prioritization discussions to inform ongoing investment decisions and reallocation.
• Partner with initiative owners to define measures of success associated with business case definition for cost benefit evaluation and assess return on investment actuals.
• Develop and maintain IT forecasts, incorporating actual performance, project delivery timing, vendor billing patterns, and emerging risks.
• Partner with IT cost center owners to challenge assumptions, identify risks and opportunities, and align technology spend with strategic priorities, aligning cost center budgets to evolving resource and contract assumptions that support quarterly capacity allocation decisions.
• Monitor and explain variances related to software, cloud services, infrastructure, cybersecurity, vendors, and IT labor.

What you'll bring

• Bachelor's degree in Finance, Accounting, Economics, Information Systems, or a related field (MBA, CPA, or CFA preferred).
• 5-10 years of experience in FP&A, finance, or accounting, including direct support of an IT or technology organization.
• Hands on experience leading budgets and forecasts.
• Experience supporting technology spend, including software, cloud services, vendor contracts, and IT projects.
• Strong financial modeling, Excel, and analytical skills.
• Ability to communicate financial concepts clearly to non-finance stakeholders, particularly IT leaders and project managers.
• Strong understanding of IT financial concepts, including rolling forecasting practices, workforce and project cost planning, and the economic drivers of IT labor and vendor spend.
• Evaluates and leverages AI capabilities to strengthen FP&A decision support, scenario analysis, and investment planning for Information Technology initiatives.
• Strategic thinker with strong attention to detail and data integrity.
• Ability to challenge assumptions constructively and translate technical activity into financial insights.
• Strong collaboration and stakeholder management skills, enabling effective partnership and influence with senior IT leadership.
• Comfort managing competing priorities and supporting fast moving initiatives.
• High accountability for deadlines, accuracy, and quality of deliverables.
• Must have proven ability using various BI tools.

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

$125,825.00 - $221,275.00

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