Currency Technology Office Contract & Sourcing Analyst Intemediate to Senior
Federal Reserve Bank of Richmond
April 24, 2018
Full Time - Experienced
Contract, Procurement, Sourcing
4 Year Degree
As part of the nation’s central bank, the Federal Reserve Bank of Richmond is committed to strengthening the economy and our communities. It’s a big job, and that’s why we need a variety of talented, results-driven professionals who care about making a difference. Sound like a challenge? You bet it is. That’s why three important values inspire our culture: Serve with integrity. Lead with courage. Perform with excellence. At the Richmond Fed, our goal is not just to be an employer of choice; we want to be your employer of choice. One of the ways we do that is by offering a total rewards portfolio that includes more than compensation. Our total rewards includes thrift and retirement plans, generous paid time off, health and wellness benefits, insurance to protect you and your loved ones, work/life offerings, and a variety of professional development opportunities.
The Currency Technology Office is hiring a Contract and Sourcing Analyst Intermediate to Senior depending on experience and background. All candidates will be evaluated for both positions. Provides research and analysis of technical data and problems of varying complexity in order to develop recommendations in the areas of procurement, sourcing, contracts and service maintenance. Provides guidance in identifying, evaluating and developing processes and procedures that are effective and meet requirements. Plans and executes sourcing solutions and may provide consultation to clients, colleagues and management. Determines best practices and suggests how to improve current practices.
Candidate should review the FRB Employee Code of Conduct to ensure compliance with issues related to previous employment and prohibited financial interests. The Code is available on the About Us, Careers webpage at www.richmondfed.org.
***Selected candidate is subject to special background check procedures
***The deadline for applying on line is 5:00PM on May 8, 2018
*** The hiring range for position Contract and Sourcing Analyst Intermediate $57,000-$71,700 annually
*** The hiring range for position Contract and Sourcing Analyst Senior $77,400-$96,700 annually
***Salary and position title offered will be based on job responsibilities and individual’s knowledge, skills and experience as defined in the job qualifications/experience.
***Position requires 25% travel
Essential Job Responsibilities (including but not limited to the following)
Develops, monitors and manages relationships with vendors, National Cash Automation (NCA), Currency Technology Office (CTO), and Federal Reserve strategic partners (e.g., National Procurement Office, District Procurements Functions etc.). Facilitates and participates regularly in meetings and discussions between vendors and the appropriate Federal Reserve and/or customer resources
Manages and develops strategies for the Requests for Information & Proposals (RFI/RFP) process related to complex, long-term acquisitions for the NCA and Cash Product Office (CPO), looking for the best solution to meet their needs within the System guidelines. This includes evaluating responses and recommending finalists.
Develops and provides timely communication of documentation needed for business line management pertaining to milestones, project status, and decisions making steps relative to acquisitions.
Manages the development of negotiations and terms of agreement for vendor agreements of varying size (with scope from a few thousand to multi-million dollar contracts) and types (i.e., hardware, software, combined, etc.), including service level agreements.
Conducts market assessments to identify and responds to opportunities to save money and improve quality by utilizing a competitive bid process. Works with finance, procurement and legal to smoothly implement agreements.
Develops relevant contract documents, and business terms, such as statements of work and service level agreements that define customer's service expectation, and sets a service standard for the vendor. Ensures terms and conditions are clearly written and represent the Federal Reserve and CPO's interest. Collaborates with legal counsel to ensure contract is in accordance with local, state, federal, and other laws, rules and regulations.
Collaborates in a cross-functional environment (engineers, operations analyst, trainers, etc.) to address technical or systems related matters as it relates to procurement, sourcing, contracts and asset management.
Conducts risk assessments and financial reviews on vendors, ensuring that vendors have the financial and organizational capabilities to provide the products or perform the services required by the Federal Reserve.
Establishes and implements quantifiable measures to monitor and ensure quality and timely delivery of vendor services, products, and other defined deliverables. Ensures vendor provides services in accordance with contracted terms. Maintains information about third-party vendors and service providers.
Ensures thorough periodic visits and reviews of established quality metrics that resource allocations are as defined and required; training is being utilized as defined; and other services are being provided per vendor agreements. Measures vendor performance both routinely and during crises, including the vendor's ability to define issues, respond appropriately, escalates issues when necessary, involves the relevant executives when required, and solves issues efficiently.
Monitors and evaluates processes and works with the vendor, NCA, CTO and Procurement functions to streamline effective contingency management and on-going support. Ensures expenses are accurate and reflect negotiated agreements.
Serve as a single access point to CPO for sourcing issues and minimizing inconsistencies that occur with managing multiple vendor relationships. Facilitate fair and equal access to opportunities to participate in procurements.
Ensures an exchange of knowledge between vendor, NCA, CTO and Federal Reserve strategic partners by arranging training, ensuring appropriate documentation, and engaging in other appropriate forms of knowledge transfer.
Thorough knowledge of Federal Reserve acquisition methods and Vendor management activities are highly desirable
Thorough knowledge of project management methodologies and high degree of proficiency in diplomacy and liaison techniques to ensure most effective working relationships with vendors
Knowledge of distributed systems and service level data
Knowledge of management requirements to coordinate service level agreements, troubleshoot problem management and change management actions and implement proactive efficient business solutions
Excellent interpersonal and oral/written communication skills to act as a liaison
Working knowledge of audit and control procedures to work with auditors to maintain proper levels of vendor service level quality control.Education & ExperienceIntermediate Bachelor's Degree or an equivalent combination of education and job-related experience equal to 5-9 years; proven experience with vendor or project negotiation tactics and skillsKnowledge & Skills:
Bachelor's Degree or an equivalent combination of education and job-related experience equal to 3 - 5 years; proven experience with vendor or project negotiation tactics and skills
Excellent problem-solving skills, statistical, financial management and contract negotiation skills to recommend complex service agreements and lead/participate in projects dealing with Cash issues
Acute attention to detail with a high level of data integrity and accuracy
Ability to identify critical disparities and/or redundancies in legal documentation and report compliance concerns and provide direction on moderately complex issues to internal groups
Strong oral and written communication
Strong interpersonal skills and ability to work with people at all levels of the organization
Thorough knowledge of the principles of data collection, analysis, and acquisition guidelines
Proficient computer skills including Microsoft Outlook, Word, Excel, and PowerPoint along with various other online applications, as needed for the role
Excellent analytical ability
Internal Number: 255366
About Federal Reserve Bank of Richmond
The Richmond Fed - Part of the Nation's Central Bank
As the nation’s central bank, the Federal Reserve sets monetary policy, supervises and regulates member financial institutions and provides an array of financial services.