Contracts and Strategic Sourcing Analyst

Company

Federal Reserve Bank of Richmond

At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities.

We take great pride in what we do and it impacts everyday people every day.

When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.

Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth.

It’s all part of what makes #MyRichmondFed a great place to work!

The Federal Reserve Bank of Richmond has an immediate opening for a Contracts and Sourcing Analyst within the local District Procurement organization.

You will support or lead the strategic sourcing lifecycle, executing targeted sourcing strategies for business partners and assigned product categories.

 In this role, you will help to transform the traditional procurement model by forging value-added partnerships with business stakeholders.

You will also collaborate with the National Procurement Office, Legal, Vendor Management, and Supplier Diversity teams to develop contracts that meet stakeholder requirements and achieve organizational cost savings goals.

 You will work independently and serve as an ambassador and primary point of contact for assigned business partners.

You will use 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:


* Support procurement, sourcing and contract management activities including the review and development of contract specifications, bid documents (i.e.

RFIs, RFQs, RFPs), and negotiation strategies for District acquisitions in categories such as facilities and maintenance services, construction, human resources related services, consulting services, IT equipment, software licensing, and other services.


* Serve as a point of contact to assigned internal business lines.  Build and maintain a deep understanding of the business line priorities, risks, and responsibilities to identify key strategic sourcing opportunities.  Partner with key stakeholders to understand internal requirements, review supplier performance, and build sourcing and renewal strategies to achieve targeted savings goals.


* Maintain knowledge of related policies and procedures and answers inquiries regarding procedural guidelines, contract statuses, approvals, and supporting documentation.


* Track contract/procurement schedules and time constraints to ensure compliance.  Review and analyze related financial/budgetary items, generate required and ad hoc reports, identify and report disparities, and research relevant information.


* Assist in performing price/cost analysis.


* Perform basic contract administ...