ERP Vendor Management Analyst
IT
Boston, MA, USA
Company
Federal Reserve Bank of Kansas CityWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with leading professionals to strengthen and protect our economic, financial and payments systems. We invest in contemporary and emerging technology each year to support the Federal Reserve and our economy, and we’re building a dynamic and diverse team for our future.The Enterprise Resource Planning Support Office’s (ESO) Vendor Manager is a strategic and operational leader responsible for the full supplier lifecycle and service delivery of third-party vendor management across all ERP platforms and services. This entails establishing and driving vendor relationship management, contract negotiation, risk and spend monitoring, and performance measurement practices to ensure alignment with the Federal Reserve System Vendor Management Framework and service-level expectations. This individual partners closely with the ERP business product teams, System Procurement, and the Richmond Fed procurement, legal, risk, and finance areas to support the overall supplier lifecycle and to ensure vendors deliver expected value and performance.
Key Activities
Performs work under limited supervision with extensive autonomy and discretion; plans and arranges short and long-term work for the vendor management function in alignment with the organization’s overall business objectives. Influences timelines, expectations and proactively negotiates within the ERP organization.
Communicates and influences internal and external stakeholders at an operational and strategic level regarding policies, procedures, and practices.
Vendor Strategy
Effectively manage and develop the vendor management process and strategies for the ESO, aligning with local and System policies and industry best practices.
Implement scalable best practices for vendor management lifecycle activities including onboarding, offboarding, contract oversight, performance monitoring, and risk management.
Relationship and Performance Management
Serve as the primary relationship manager for all ERP vendors.
Lead and organize business reviews with key vendors, business product stakeholders, and leadership.
Monitor and evaluate vendor performance against SLAs, KPIs, and business outcomes.
Partner with enterprise risk, information security, and compliance teams to support vendor management audits and/or third-party provider risk assessments and regulatory inquiries.
Perform and accountable for ongoing service delivery activities through the establishment of vendor management plans including relationship management, risk assessment, mitigation, risk monitoring and control, performance scorecard and improvement plans, contingency and crisis management, and leadership and delivery tracking meetings.
Contract and Financial Management
Act as the primary point of contact representing the business during the sourcing and procurement stages of the supplier lifecycle. In collaboration with the National/Local Procurement Office, ensure adherence to and provide support for complying with System Procurement standards and Model Acquisition Guidelines.
Collaborate with System Procurement, legal, information security and business line(s) stakeholders when establishing new and/or renewed contract terms and purchase orders to ensure all contractual terms and conditions comply with FRS standards and meet the needs of the business.
Establish negotiation strategies that result in cost savings and favorable terms and conditions while minimizing risk.
Support and/or author Statement of Work (SOW) for services agreements. Verify performance to each SOW, adherence to timelines, cost management, change control, and corrective actions, as necessary.
Manage contract renewals, amendments, and service-level agreements.
Monitor the ESO’s software budget, monitor vendor spend and cost effectiveness including product usage and cost trend analysis to support budgeting and forecasting activities; validate and ensure vendor invoices are processed in alignments with the applicable contract terms to ensure compliance.
Monitor vendors’ adherence to agreement terms, commitments, and terms and conditions.
Develop, support, and track reporting requirements - Key Performance Indicators (KPIs), Key Risk Indicators (KRIs), and contractual obligations including entitlement usage and trend anaylsisanalysis for technology vendors.
Leadership and Outreach
Participate in local and System workgroups and communities of practice to address complex, multi-functional initiatives, issues, problems, or opportunities for technology vendors.
Supervise and develop Analysts/Specialists supporting vendor management work; assign workload and provide coaching and development opportunities.
Champion a culture of continuous improvement and accountability within the vendor management function and across the ERP.
Qualifications
Education and Experience
Bachelor’s degree in Business, Supply Chain, Finance, or related field (Master’s preferred).
7–10 years of relevant experience in vendor management, strategic sourcing, procurement, or supplier governance.
Demonstrated experience managing high-value, complex third-party/external vendor portfolios and relationships.
Additional experience should include subcontracting, e-sourcing systems, understanding of market-based and cost-based pricing structures and negotiation strategies.
Skills and Competencies
Strong understanding of vendor management best practices, industry trends, and third-party risk management principles and regulatory considerations.
Excellent negotiation, contract management, and vendor relationship management skills including: performance monitoring, problem resolution, and risk management.
Proficient in establishing performance analytics and spend management and monitoring practices, with ability to interpret and act on SLAs, KPIs, and trend analysis.
Effective communicator with ability to influence senior stakeholders and vendors.
Strategic thinker with strong analytical, organizational, and project management skills.
Prudent judgment and decision-making, as well as a creative approach to problem solving.
Strong interpersonal skills and ability to work with and build relationships with individuals at all levels of the organization.
Proficient in Microsoft Office 365 and vendor management or procurement systems.
Additional Information
How We Work:
On-site, full-time with 5 days per month remote work flexibility. Requirements vary by district.
Locations: Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St Louis, Minneapolis, Kansas City, Dallas, San Francisco
Remote Eligible: No
Relocation Assistance: No
Salary:
$94.600 - 122,400 / Senior Level
$108,000 - 139,800 / Advanced Level
$127,900 - 165,600 / Expert-Lead Level
Final offers are determined by factors including the candidate’s qualifications, internal alignment considerations, district assignment, and geographic location.
Screening Requirements: Certain eligibility requirements may apply.
Sponsorship: The Federal Reserve Bank of Kansas City will not sponsor a new applicant for employment authorization for this position. Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.
About Us
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Full Time / Part Time
Full timeRegular / Temporary
RegularJob Exempt (Yes / No)
YesJob Category
Information Technology Family GroupWork Shift
First (United States of America)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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