Business Analyst, Vendor Management at Federal Reserve Bank (FRB) in Richmond, Virginia

Posted in General Business 12 days ago.

Type: Full-Time

Job Description:

The Richmond Fed is the proud home of the Federal Reserve's National IT organization-a nationwide team delivering technology solutions and support across the Federal Reserve System. Many National IT employees are located in Richmond, while others are based across the U.S. at other Federal locations.

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!

About the Opportunity

As a member of the VMO (Vendor Management Office) team, you will support the management of National IT's Critically Important and other strategic vendors. You will provide research and analysis of data and problems of varying complexity in order to develop recommendations to solve problems and issues; this includes analysis on vendor spend, performance and risk. You will provide guidance in identifying, evaluating and developing processes and procedures that are effective and meet requirements; provides reporting and analysis to assist in executing solutions and may provide consultation to clients, colleagues and management; participate in or may lead cross-functional teams to address business or systems issues; provides leadership or support on moderately complex projects; and determine best practices and suggests how to improve current practices. If you are qualified at the Experienced level, you will bring a moderate level of experience and proficiency in the field of vendor management and/or third-party risk management. The preferred location is Richmond, VA; however, other locations noted above may be considered in limited circumstances with regular travel to Richmond, VA expected.

What You Will Do:

  • Perform detailed analysis of vendor and/or third-party related data including but not limited to vendor spend, third party risk, and vendor performance. Complete risks assessments for monitored vendor relationships including evaluation of financial statements and monitoring of industry trends.
  • Partner with stakeholders including Vendor Management and Procurement to understand vendor relationships and contractual obligations of vendors. Work with stakeholders to ensure all risk assessment and remediation requirements have been met.
  • Create reports and dashboards of varying complexity using data visualization tools (Tableau, PowerBI).
  • Utilize data to draw conclusions and provide actionable recommendations to stakeholders.
  • Prepare and present communications to stakeholders in both verbal and written form.
  • Lead or support cross-functional team initiatives and process improvement projects.
  • Assist in developing and revising procedures, defining processes, and delivery of related training to users and staff.
  • Perform other related duties as assigned.

  • Bachelor's Degree preferred with 3 to 5+ years of relevant work experience.
  • General knowledge pertaining to concepts and principles used in vendor management and third-party risk management disciplines.
  • Demonstrated analytical skills with working knowledge of data collection and visualization techniques.
  • Strong organizational skills with emphasis on attention to detail especially in areas of data integrity and accuracy required.
  • Strong oral and written communication skills. Acts as a team player, is cooperative and encourages collaboration.
  • Self-motivated, quick learner with ability to work independently following established methods and clear-cut policy. Makes decisions when general instructions or established methods indicate action to be taken.
  • Proficiency with Microsoft Office Suite required with emphasis on Excel and PowerPoint skills. Tableau knowledge and experience preferred.

Discover the Reason Why So Many People Love It Here!

When you join Federal Reserve's National IT organization, not only will you find a challenging and purposeful career, you'll also have access to a wide range of benefits and perks that support your health and wealth, including:

  • Great medical benefits
  • Pension and 401(k) with employer match
  • Paid time off
  • Tuition reimbursement
  • Employee resource networks
  • Paid volunteer leave
  • Flexible work options
  • Onsite amenities that make working here fun

Other Requirements and Considerations:

  • Candidates should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions. The Code is available on the About Us, Careers webpage at
  • Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.

    • The selected candidate will be subject to a government security investigation and must meet eligibility requirements for access to classified information. Eligibility for this specific position requires U.S. Citizenship or three or more years of Permanent Resident (Green Card) status.

  • Salary offered will be based on the job responsibilities and the individual's knowledge, skills, and experience as defined in the job qualifications/experience.
  • For candidates not located in Richmond, VA, the salary range will be adjusted for your geographic location.
  • Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by March 2, 2021.

The Federal Reserve Bank of Richmond provides equal opportunity to all individuals without regard to race, sex, color, religion, gender identity or expression, sexual orientation, national origin, age, disability, or genetic information.