As part of the Central bank of the United States, the Boston Fed works to promote sound growth and financial stability in New England and the nation. We contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Procurement function of the Boston Fed works diligently to safeguard the fairness and consistency of all major Bank purchases and contracts. This dynamic team partners with all areas of the Bank and are proven experts in strategic sourcing, contracts administration and vendor/supplier management.
This position is responsible for coordinating and administering large, complex, long-term sourcing events with risk exposure. These projects require a higher degree of experience, knowledge, and professionalism in strategic sourcing. The Specialist will manage multiple projects at a time, often on behalf of multiple internal stakeholders. Additionally, this position will be assigned responsibility for handling specific relationships impacting the procurement process. The work conducted by the Specialist is assigned and reviewed by procurement management but is generally conducted independently.
- Manages and develops strategies for the RFX process related to complex, long-term acquisitions in support of Boston Fed customers, looking for the best solution to meet their needs within existing guidelines.
- Collaborates with internal stakeholders to be aware of and properly plan for business lines procurement needs. Utilizes spend analysis to look for new sourcing opportunities and to leverage non-contract spend.
- Completes end-to-end acquisitions related to indirect categories such as, facilities and maintenance services, IT, professional services, and other capital or expense projects.
Analyzes and synthesizes data supplied by business areas and translates that information into detailed requirements and acceptable bid specifications.
- Prepares and owns RFXs, process specifications, tests, reports, and other exhibits for critical and complex requirements. Plays a critical role in the vendor selection process. Manages timeline events related to bid/proposal (meetings, amendments, and notifications).
- Collaborates and coordinate with business lines management on all aspects of the acquisition.
Develops effective strategies for internal customers and provide effective and timely communication pertaining to milestones, project status, and decision-making steps relative to each acquisition, providing a cradle to grave timeline for major projects.
- Leads negotiations with suppliers relative to new procurements, changes to existing agreements or conditions and price and service level arrangements. considering budget and discretionary implications.
- Establishes and maintains effective relationships with internal stakeholders, NPO and Legal.
Provides training sessions for customers creating awareness and partnership throughout the procurement lifecycle and influences customers on sourcing opportunities, demonstrating the value add of a strong, consultative approach.
- Works on special projects which have a significant impact on the procurement operations, such as initiatives under the National Procurement Office (NPO). Partners with stakeholders to promote diversity and inclusion in the acquisitions process to strengthen the Bank's vision.
- Actively seeks to building relationships with stakeholders and peers across the Federal Reserve System.
- Utilizes technology to locate candidates for inclusion in acquisitions that address small business and supplier diversity needs. Participates in maintenance and support of applications. Seeks opportunities to use technology to enhance work performance.
- Supports vendor management, when applicable, by collaborating with stakeholders to maintain or improve performance, as appropriate.
- Minimum of 3 years’ experience in direct operations, logistics engineering, consulting, or supply chain startup, or equivalent education
- Completion of Bachelor’s degree in a related field required.
- 5+ years of related Procurement and strategic sourcing experience; preferably in a fast-paced environment with requirements to adhere to existing compliance guidelines.
- Experience with RFX development, processes, and set up.
- Knowledge of generally accepted contractual terms and conditions for sourcing contract and acquisitions.
- Working knowledge of pricing, market conditions, and product functionality.
- Project management experience within a matrix environment and multiple stakeholders. Ability to multi-task projects and keep all parties informed at all times.
- Job knowledge and results; Project Management; Vendor Management; Negotiation skills; Strategic thinking; Group Leadership skills; Interpersonal and customer relations skills; Analysis and decision making; Communication; Analysis; System affinity and experience in different ERP systems and procurement tools.
- Demonstrated purchasing expertise and knowledge in indirect sourcing categories.
- Independent Judgment/Complexity - Prioritizes projects well both independently and with some direction and guidance from management. Must be comfortable working in and guiding cross functional teams of subject matter experts.
- Able to manage PMs, Directors and Management level productively and effectively
- Work in industry-standard procurement systems such as Infor/Lawson preferred; knowledge of ERP/ systems helpful.
- Advanced MS office skills with strong MS Excel skills
- Knowledge of P2P automation is helpful
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. Principals Only.