Procurement Specialist

About the role

The Procurement Specialist is a key member of the Centralized Operational Resources (COR) team, supporting the Manager, Procurement in executing our FHLBank procurement strategy. This role facilitates the end‑to‑end procurement lifecycle, including vendor selection, onboarding, contract administration, vendor performance monitoring, and reporting. The position closely collaborates with internal stakeholders to ensure adherence to policies and procedures, mitigate risk, and drive efficiency in procurement processes. The role partners with Audit, Enterprise Risk Management, Legal, Technology, and Operations leadership to implement appropriate first‑line controls and provides direction to business partners throughout the procurement life cycle.

Responsibilities

• Ensure compliance with related policies, procedures, regulations, and laws alongside business line Vendor Owners and the Procurement Manager.
• Support strategic initiatives to mature procurement processes; contribute ideas for efficiency and risk mitigation and see them through to implementation.
• Facilitate vendor search and onboarding while considering supplier diversity; maintain accurate vendor data for regulatory reporting purposes.
• Support contract administration processes by guiding contract and vendor owners, maintaining qualifying vendor data, supporting the RFP/RFQ process, and learning relevant IT systems.
• Perform vendor background and compliance checks using credit.net, OFAC screening, and the FHFA suspended counterparty dashboard.
• Facilitate the communication of purchase orders to vendors.
• Review and input vendor information and key data in systems of record, ensuring data accuracy for reporting and compliance.
• Create formal presentations for leadership, board, and committee meetings.
• Use vendor lifecycle tools and ERP systems (e.g., JD Edwards).
• Support the annual review of vendors and identify/remove inactive vendor contracts.
• Facilitate bank‑wide monitoring of key contract terms and partner with vendor owners and vendors as appropriate.
• Partner with vendor owners and Enterprise Risk Management to assess and document potential risks of new and renewing vendors (data transmissions, AI use, data location, fourth‑party risk, etc.).
• Create and conduct training and awareness activities to educate managers and employees about the Bank’s procurement policies and procedures.
• Work with the manager to apply industry best practices, implement process improvements, and identify future responsibilities for the team.
• Leverage and enhance procurement technology platforms to streamline workflows, strengthen operational controls, and drive measurable efficiency across the procurement lifecycle.
• Develop strategic standardization and organization of vendor and contract data—ensuring agreements are accurately updated, fully aligned, and systematically filed for reliable governance, audit readiness, and effortless retrieval.

Requirements

• Bachelor’s degree required, preferably in Business, Finance, or Information Technology, or equivalent industry experience.
• 3+ years of experience in procurement, vendor management, contract administration, or a related field; experience in financial services or banking is preferred.
• Thorough understanding of contract types (MSAs, SOWs, License Agreements) and contract lifecycle management.
• Ability to interpret and apply procurement policies and compliance requirements.
• Familiarity with procurement lifecycle tools and ERP systems (e.g., JD Edwards) is a plus.
• Tableau / data management experience is a plus.
• Knowledge of vendor risk management tools and processes.

Skills

• Proficiency in PC‑based software programs, including Microsoft Excel, Word, and PowerPoint; ability to create spreadsheets, reports, and presentations.
• Skilled at building robust slide decks and presentations as communication tools, tailoring them to different audiences including key stakeholders and executive leadership.
• Ability to collaborate effectively with cross‑functional teams and maintain strong stakeholder relationships.
• Strong verbal and written communication skills.
• Strong analytical, critical‑thinking, and independent problem‑solving abilities.
• Detail‑oriented with strong organizational skills.