Sourcing/Contract Specialist

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Atlanta, GA, USA
Posted on Tuesday, May 2, 2023


Federal Reserve Bank of AtlantaAs an employee of the Atlanta Fed, you will help support our mission of promoting the stability and efficiency of the U.S. economy and financial system. Your work will affect the economy of the Southeast, the United States, and the world. The work we do here is important, and how we do it is just as important as what we do. We live our values of integrity, excellence, and respect every day. We do the right thing, we do things right, and we treat people right. A career at the Federal Reserve Bank of Atlanta gives you the chance to do work that touches lives and helps communities prosper.

Position Summary:

Executes enterprise-wide operations for the procurement of critical goods and services, and the development and fulfillment of contract requirements on behalf of the Sixth District. Prepares Request for Proposal, Request for Quotes, bid analysis, negotiates contract terms and conditions, recommends/awards to the customer, and awards contracts. Completes projects and special assignments. Provides effective customer service covering a range of procurement or purchasing questions or problems.

Key Responsibilities:

  • Responsible for all aspects of the procurement proposal process, drafting proposals, negotiating with vendors, awarding contracts, monitoring contract progress, and conflict resolution.

  • Responsible for developing contract requirements through interaction with business areas and legal counsel on the purchase of complex, sophisticated and critical materials, supplies, equipment, software platforms or services of substantial importance to the organization. Must have a fundamental understanding of legal contract terms and conditions.

  • Ensures compliance with procurement policies and procedures through maintenance of procurement record retention process, input and updating of record, and resolution of discrepancies.

  • Manages and measures supplier performance and continuous improvement through scheduled reviews. Negotiates cash discounts, product warranties, performance guarantees. Manages individual workload and contract expirations to ensure current insurance and wage determination records are on file and up to date.

  • Ensures agreements comply with established Bank policies and procedures as well as the Model Acquisition Guidelines (MAG) and Federal Reserve Administrative Manual (FRAM).

  • Prepares reports, analyzes data, and makes sound recommendations for the purpose of monitoring and tracking operational results.

  • Supports internal and external customers by ensuring department management and analysts receive appropriate and relevant procurement data. Educates and trains customers on guidelines or processes as needed.

  • Completes special projects and ad hoc assignments. Conducts procurement-related research and analysis, assists with the implementation of department goals and objectives and/or operational improvements, and reviews/updates operational procedures. Trains coworkers on changes or enhancements to operations.

  • Executes procurement card operations. Investigates and reports irregularities in pcard transactions and recommends action plan for resolution. Resolves problems as it relates to pcard activity, application, or merchant relations. Serves as a liaison between cardholders and the Bank.

Education: Bachelor's Degree or 4 years equivalent experience

Experience: Two to five years preferred

Knowledge Areas:

  • Expense/Cost Accounting

  • Contract Managment

  • Accounts Payable processes and concepts

Technical Skills:

  • Microsoft Office Suite

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

  • Generously subsidized public transportation

  • Annual tuition reimbursement

  • Professional development programs, training and conferences

  • And more…

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change (e.g. emergencies, rush jobs, change in workload or technological developments).

The Federal Reserve Bank of Atlanta is an equal opportunity employer.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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