Senior Strategic Sourcing Specialist at Federal Reserve Bank of Cleveland in Boston, MA

Job Summary:

Coordinate and administer FedNow complex sourcing events, supplier management and contract administration for projects with medium to high risk exposure. These projects require a higher degree of experience, knowledge and administration. You will be assigned responsibility for handling specific relationships which have a significant impact on the procurement operations, such as legal liaison, supplier diversity, vendor management. Additionally, you will provide guidance to other sourcing staff within the procurement function.

Principal Responsibilities:

• Develop strategies for the RFP process related to complex, long-term acquisitions to support District customers, considering the best solution to meet their needs within the System and District guidelines.

• Handle acquisition projects related to IT equipment, enterprise-wide software licensing, application development, facilities and maintenance services, application integration, consulting services and other more complex commodity and service acquisitions.

• Analyze data supplied by the program teams, translating that information into detailed requirements and acceptable bid specifications. Prepare bids, process specifications, tests, reports, and other exhibits for important and complex requirements. Coordinate the vendor selection process. Manage timeline events related to bid/proposal (meetings, amendments, and notifications).

• Collaborate and manage (when needed) business and management workgroups related to the business line when selecting reliable sources, evaluating bids, and ensuring compliance with policies.

• Lead negotiations with suppliers relative to new procurements, changes to existing agreements or conditions and price and service level arrangements. Mindful of the public role of the FRBB, ensures that the Bank obtains goods and services that provide the best value for the Bank. Employ negotiations on behalf of the Bank wherever possible to ensure the best value for the Bank. Consider budget and discretionary effects when considering acquisitions.

• Work on special projects which have a significant impact on the procurement operations, such as legal liaison, supplier diversity, vendor management, NPO liaison support. Partner with customers to promote diversity and inclusion in the acquisitions process to strengthen the Bank's vision. Partner with NPO and serve on teams/work groups.

• Establish relationships with internal stakeholders, NPO and Legal to better work with them in sourcing and contracting opportunities. Develop strategies for internal customers to better understand their role in the process. Develop and provide communication of any documentation needed for business line management review about the milestones, project status and steps relative to each acquisition, providing a cradle to grave timeline for major projects. Provide quarterly training sessions needed for a better understanding of the procurement process. Influence customer on sourcing opportunities and demonstrating the value added. Build relationships with customers and peers in other FRBs. Partner with NPO in national projects.

• Look for opportunities to meet customers' needs and to provide efficient solutions while following procurement policies. May manage multiple complex projects at a time.

• Demonstrate ability to analyze and use rigorous logic and methods to solve difficult problems. Manage complex competitive bidding processes and conduct complex analyses, including price/cost analysis, benefit analysis, and financial analysis. Use spend analysis to look for new sourcing opportunities.

• Develop and monitor metrics. Use technology to locate candidates for inclusion in acquisitions that address small business and supplier diversity needs. Participate in maintenance and support of departmental and System processes such as open requisitions, open PO's contracts database, imaging. Seek opportunities to use technology to enhance work performance.

• Implement vendor management programs to ensure customers receive the best value for their dollar.

Education:

• Bachelor’s degree in any business discipline and 5 or more years of related work experience

Knowledge & Experience:

• Relationship management

• Experience with rigorous bidding processes

• Experience with eProcurement and eSourcing tools

• Knowledge of generally accepted acquisition policies, procedures, contractual terms and conditions

• Expertise in achieving assigned results

• Broad experience across Risk, Legal, Accounting, and PMO

• Payments industry knowledge or technical expertise preferred

• Experience in handling and resolving disputes

• Data skills with some understanding of financial modeling, and knowledge of typical incentive and pricing structures for externally procured services

• Excellent verbal and written correspondence including negotiation, and guidance

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

• Comprehensive healthcare options (Medical, Dental, and Vision)

• 401K match, and a fully funded pension plan

• Paid vacation and holidays; flexible work environment, healthy workflow

• Generously subsidized public transportation

• Annual tuition reimbursement

• Professional development programs, training and conferences

• And more…