FedNow Procurement & Vendor Management Director - Boston, Massachusetts, United States, 02101
Institution in the Banking sector.
- Proactively work to understand the acquisition of program needs.
- Meets with vendors for purpose of sourcing individual area and program needs, or System needs, ensuring that vendors meet program and System standards according to the Model Acquisition Guidelines.
- Manages, develops, coordinates and conducts formal bidding process. Reviews and consults on bid specifications and documents to ensure inclusion of terms most favorable to program and to ensure compliance with guidelines.
- Provides negotiation, contract and supplier management advice.
- Researches and interprets broader contractual rights and obligations and communicates findings to user and/or vendor.
- Seeks to lower the cost of products and services through consolidation, standardization and value engineering; leverages existing supplier relationships and rationalizes the supplier base; utilizes supplier technology to shorten purchasing cycle.
- Targets annual procurement cost savings and cost avoidance metrics. Implements plan to meet or exceed procurement cost savings and avoidance metrics. Reports on results.
- Consults with business and program leads in developing legal documents pursuant to Federal Reserve System Acquisition Guidelines (i.e., Invitation for Bids, Request for Proposals, award letters, and determinations of non-responsibility).
- Provides consultation to program management to ensure compliance with guidelines regarding Procurement.
- Ensures that key suppliers meet their service level agreements and financial obligations; promotes continuous supplier improvement; works with System staff and suppliers to develop performance metrics and reports; functions as liaison between program areas and suppliers to resolve problems.
- Establishes and maintains an active relationship with internal stakeholders, NPO and Legal in sourcing and contracting opportunities. Develops strategies for internal customers to better understand their role in the process. Develops and provides timely communication of any documentation needed for business line management review pertaining to milestones, project status, and decision making steps relative to each acquisition, providing a cradle to grave timeline for major projects. Provides quarterly training sessions for customers, allowing them to receive any training needed for them to develop a better understanding of the procurement process. Influences customer on sourcing opportunities and demonstrating the value added. Actively seeks to building relationships with customers and peers in other FRBs.
- Acts as intermediary between program areas, Legal and vendors in negotiating and administering contracts.
- Ensures compliance with Bank and System policies, standards and procedures. Writes, maintains and updates internal documentation supporting competitive purchasing and contract process.
- Partners with program areas to promote diversity and inclusion in the acquisition process to strengthen the Bank's supplier diversity vision.
- Presents program education seminars on procurements and presides over vendor and user meetings.
- Assists in National Purchasing Office (NPO) related work as necessary.
- Acts as an effective leader and contributes to teamwork within area of responsibility and across the department. Develops performance goals for employees. Throughout the year conducts performance/development discussions with employees. Takes action to develop, correct or discipline staff as appropriate.
- Performs other duties as assigned including: Setting strategic direction and developing performance measures, audit and board reviews; ERM assessments; time reporting and staff allocation, and staff development and recognition.
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's Degree in business management, finance, operations or related field / Procurement certification, and a minimum of 7 to 10 years of related experience.
10 plus years of direct experience may serve in lieu of educational requirement.
Project Management and vendor management experience; technology contract experience preferred.
Experience in strategic sourcing and contract negotiation.
Experience in design and implementation of procurement information systems, supplier management programs, etc.
Certified Professional Purchasing Manager or similar credential preferred.
Required Competencies: 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; Self-Management.
Demonstrated skills in supplier management and negotiation.
Ability to apply critical thinking in dealings with business areas and vendors.
Extensive and demonstrated knowledge of procurement, benchmarking methodologies and purchasing best practices.
Detail oriented, excellent proof reading and editing skills.
Extensive contract knowledge and working knowledge of Uniform Commercial Code (UCC).
Highly proficient use of computer software applications and a broad knowledge of computer databases.
Broad knowledge of Bank's standards, policies and procedures.
Demonstrated purchasing expertise and knowledge in two or more distinct purchasing markets such as information technology, building construction, office supplies, etc.