Procurement Specialist vacancy in Federal Reserve Bank of Philadelphia Philadelphia, PA

Website Federal Reserve Bank of Philadelphia

This Jobsfunter Listing is about Federal Reserve Bank of Philadelphia in Philadelphia, PA 2022

About the job


Federal Reserve Bank of Philadelphia

Reporting to the Procurement and Vendor Relations Manager; the Procurement Specialist role will manage Bank data acquisitions and provide high level analysis on the bidding, pricing analysis and vendor selection/evaluation process. Serves

as a business liaison in the preparation and review of plans and schedules for Bank data acquisitions as assigned. Ensures a strong customer focus with demonstrated ability to listen to, understand and synthesize client needs. Monitors and ensures compliance to the Federal Reserve System’s Model Acquisition Guidelines, Delegation of Authority, Small Business Policy, Federal Reserve Administrative Manual, and other procurement policies and procedures. Works as a team member to support other procurement and financial management colleagues and procurement stakeholders across the Bank. Adheres to ethical practices and relevant laws and regulations.

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Data Services

  • Lead cross-functional and cross-organizational teams for all assigned analytical and strategic sourcing initiatives while providing vendor management support to support the business unit through the procurement sourcing process, focusing on all of the bank’s data acquisitions.
  • Actively listens to all stakeholders in the procurement process to ensure that programs are effectively supported, and the needs of the business unit are met.
  • Optimize data sourcing strategies using existing frameworks and exploring options to continuously improve and innovate.
  • Consult with business areas to ensure procurement policies, processes, and procedures are followed to minimize potential financial or contractual risk.
  • Establish relationship with Legal and Risk Management to ensure all contractual terms and conditions comply with standard or other contract changes are formally reviewed and approved by legalisk management.
  • Ensure compliance to sourcing and contracting policies and procedures, including spend and insurance requirements for all data contracts.

Vendor Management

  • Effectively manage the vendor management process and develops vendor management strategies and processes, using the Federal Reserve System’s standard technology tools.
  • Ensure vendor services and related contracts support District business objectives.
  • Provide leadership, guidance, and training to assist all Bank stakeholders in meeting vendor management responsibilities and adopting best practices.
  • Ensure District-wide needs for reporting and continuing vendor monitoring are accomplished.
  • Lead and organize quarterly and annual vendor management reviews.
  • Support the Bank’s Enterprise Risk Management program (which currently includes vendor management as a key risk)

Required Skills & Abilities:

  • Experience with automated procurement solutions for contract administration, bid process, and vendor management.
  • Willingness and ability to back-up and support other procurement team members.
  • Motivated to grow and perform in a high-performance organization, to evolve processes for continuous improvement.
  • Ability to manage multiple high-level projects simultaneously.
  • Ability to work independently.
  • Ability to communicate with all levels of Bank management.
  • Excellent Inter-personal skills, Organizational skills, Strong Analytical Ability and Project Management skills.
  • Fulfill job duties and responsibilities in conformance with sound safety practices.
  • Perform other related duties as assigned.

Subordinates: None.

Scope Measurement: Bank-wide Contracts – $40 million.

Education and Experience:

  • Bachelor’s degree or related work experience.
  • Minimum five years’ experience in procurement administration, vendor management including: performance monitoring, problem resolution, contract administration, subcontracting, procure to pay strategies, pricing strategies, and market- based and cost-based pricing.

Knowledge and Skills:

  • Ariba Experience preferred

Other Requirements:

  • Some travel may be required.

Physical Requirements:

  • Ability to sit, enter, and verify data at the Personal Computer (PC) for extended periods of time.

We offer a great benefits package that features:

  • Medical (4 options), Prescription, Dental (3 options), and Vision Insurance
  • 401k/Thrift Plan with generous employer match
  • Employer-funded Pension Plan
  • Paid Vacation/Sick Time & Holidays
  • Monthly Commuter Allowance
  • Flexible Spending Accounts and Healthcare Spending Accounts
  • Flexible Work Schedule available in most departments
  • Tuition Reimbursement
  • Parental Leave
  • Onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
  • Onsite Cafeteria & Coffee Shop
  • Additional Convenience Benefits, Discounts and More…

Additional Information:

  • The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer seven employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
  • We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
  • A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.
  • All Federal Reserve Bank of Philadelphia employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities, and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as “safety sensitive” will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
  • All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
  • Certain eligibility rules apply. You will provide work authorization to prove their eligibility to work in the United States.
  • The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
  • Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

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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Company: Federal Reserve Bank of Philadelphia

Vacancy Type: Full-time · Mid-Senior level 

Job Location: Philadelphia, PA

Application Deadline: N/A

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