Federal Reserve Bank of Minneapolis
CompanyFederal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.
About the Opportunity
The National Procurement Office (NPO) has an immediate opening for a Category Manager. In this role, you will transform the traditional procurement model by forging value-added partnerships with stakeholders across the Federal Reserve System. Bringing your knowledge of market trends and experience negotiating complex, mission-critical sourcing opportunities, you will serve as a thought partner delivering value-added solutions. You will lead the sourcing lifecycle, executing targeted sourcing strategies for business partners and assigned product categories. You’ll collaborate across the NPO and with Legal and Vendor Management teams to develop contracts meeting stakeholder requirements and achieve organizational cost savings goals. You will work independently and serve as an ambassador and single point of contact for assigned business partners. You will use your experience and strategic sourcing best practices to balance value, demand management, risk reduction, supplier performance, and contract and category management. You will report to a Senior Manager.
What You Will Do:
- Build and maintain deep understanding of business priorities, risks and responsibilities for assigned business lines to identify key strategic sourcing opportunities.
- Serve as NPO point of contact and a thought partner, communicating value-added recommendations and solutions leveraging current and future spend across the Federal Reserve System.
- Identify effective sourcing and category management strategies for assigned categories through a variety of procurement tools and best practices, including spend analysis, market analysis and business intelligence.
- Lead the sourcing lifecycle (requirements gathering, RFI, RFP, contract negotiation) for System-wide acquisitions of financial market and news databases, curated news content/subscriptions and other data information sources, human resources, facilities and maintenance services, consulting services, IT equipment, software licensing, and other more complex category and service acquisitions in alignment with the System’s Model Acquisition Guidelines and the Richmond Fed's acquisition guidelines.
- Advance supplier diversity initiatives increasing access, outreach, accountability, and education in order to meet System diversity goals.
- Engage the Vendor Management organization in monitoring of vendor performance to ensure services meet or exceed expectations, taking feedback on vendor performance into account during current and future negotiations.
- Partner with key stakeholders to understand internal requirements, review supplier performance, and build sourcing and renewal strategies to achieve targeted savings goals.
- Collaborate across the NPO, leveraging NPO-developed analytics and reporting data to identify trends, contract consolidation and cost savings opportunities across business partners.
- Serve as an ambassador for the System Procurement Strategic Plan, fulfilling service-level commitments to stakeholders and the System procurement community.
- Collaborate with Legal to develop and refine contracts.
- Bachelor’s degree in business administration, supply chain management, accounting / finance, or related discipline; and
- Minimum 5 years of strategic sourcing/procurement experience, project management and contract negotiation experience.
- Experience in a Category Management driven procurement organization
- Proven track record of delivering value through successful contract negotiations
- Experience working collaboratively and supporting multiple sourcing initiatives
- Experience managing and maintaining strong supplier relationships.
- Experience using procurement data to identify strategic opportunities to improve value
- Experience providing consultative sourcing support to internal stakeholders
- Outstanding interpersonal, customer relationship and communication skills
- Proven ability to be a self-starter and drive for results with minimal supervision
Discover the Reason Why So Many People Love It Here!
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including:
- Great medical benefits
- Pension and 401(k) with employer match
- Paid time off
- Tuition reimbursement
- Employee resource networks
- Paid volunteer leave
- Flexible work options
- Onsite amenities that make working here fun
Other Requirements and Considerations:
- Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
- If you need assistance or an accommodation due to a disability, please notify firstname.lastname@example.org.
- Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
- Sponsorship is not available for this position.
- Selected candidate is subject to special background check procedures.
- The hiring range of the Analyst – Cont $ Sourc- Intermediate is $69,500 - $86,900 annually.
- The hiring range of the Analyst – Cont $ Sourc- Senior is $86,600 - $108,300 annually.
- Job title and salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.
- Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by February 15, 2024.
- The Fifth District provides a hybrid work environment. This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Job CategoryProcurement/Vendor Management
Work ShiftFirst (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.