Recruiting Vendors with Vision

The Office of Finance is committed to working with diverse suppliers who provide a wide range of services. Diverse suppliers and small businesses help the Office of Finance succeed in its mission to provide the Federal Home Loan Banks with reliable access to low-cost funding and deliver outstanding customer service. 

Diverse suppliers hold a significant role in Office of Finance activities: Between 2021-2023, 50.1 percent of the Office of Finance’s available spend went to diverse suppliers. According to Supplier.io’s 2023 Supplier Diversity Benchmarking Report, companies spend 3.6 percent on average with diverse suppliers. By partnering with these businesses, the Office of Finance helps promote growth and vitality in communities. The Office of Finance's relationships, resources, and coordination with the entire Federal Home Loan Bank System also help these partners pursue new opportunities and grow their businesses. 

Tim Finn, Director of Product Delivery at the Office of Finance, emphasized that working with diverse suppliers not only helps achieve spending goals but also ensures the Office of Finance receives the best services possible. An example is their partnership with the talent acquisition firm Tier4 Group. “There are many unique aspects of the FHLBanks System and the Office of Finance. Tier4 Group took the time to talk to me to make sure they understood what success looks like by learning about the culture, regulatory needs, and specific skills that are in play. They value ongoing partnerships, and so do we, which makes the relationship mutually beneficial.”  

Attending external diverse supplier fairs and hosting a supplier registration portal merely scratch the surface of the ways the Office of Finance supports and promotes supplier diversity. The Federal Home Loan Bank System hosts an annual supplier diversity conference titled “Better Together,” which the Office of Finance participates in each year. Through the conference, diverse vendors can attend matchmaking sessions with all Federal Home Loan Banks and connect to other business opportunities.  

The Office of Finance leverages the latest technologies to create great experiences for the Federal Home Loan Banks. Information technology services make up a significant portion of its supplier spend. Having access to and attracting the most talented people is paramount. 

Tier4 Group is a top supplier of talent to the Office of Finance. Betsy Robinson, CEO and Founder of Tier4 Group, a woman-owned and diversity-certified talent acquisition firm, talked with the Office of Finance about the importance of working with its team, as well as several other Federal Home Loan Banks. Tier4 Group holds a unique position in the industry by being both woman-owned and certified as an LGBT Business Enterprise by the National LGBT Chamber of Commerce. According to the Staffing Industry Analyst's (SIA) 2023 list, Tier4 Group is one of only three firms that are LGBTQ+ owned and operated in the technology, Finance & Accounting, and executive search spaces in the United States. 

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An Interview with Betsy Robinson, CEO of Tier4 Group 

How has working with FHLB been beneficial for your business? 
We benefited a lot from the “Better Together” conference and the relationships we formed there. We connected with not just the hiring teams, but actual leaders in the IT organizations who make decisions about working with us. Kudos to the Federal Home Loan Banks because at their summit, the leaders and decision-makers attended and engaged with participants. All the [Federal Home Loan Banks] and the Office of Finance are walking the walk. They are intentional about working with diverse businesses.  

Some recruiting firms just connect you to candidates based on the job title alone. Not Tier4 Group. Tier4 Group’s process involves really getting to know our needs, and there is so much less back-and-forth. They listen and help identify the nuances of what we’re asking, and this leads to us finding better candidates from the very first round of interviews. I can’t say enough good things.  — Tim Finn, Director of Product Delivery, FHLBanks Office of Finance 

How do you maintain that personal touch in recruiting in an increasingly virtual world? 
It takes time, but to find the right person, you must know the company culture and the people. That’s why we have team members that learn how to best support the organizations we work with, like Larry Leff who is our National Account Director for the entire FHLBanks system. We have all sorts of great AI tools, but it’s our mission that every single candidate gets that human touch. The average recruiter here has 12 years of experience. It’s not about finding a person. It’s about finding the right person. I really do appreciate [the Office of Finance and Federal Home Loan Banks] recognizing that about us, because it is a goal we have: to be an extension of our client’s team and a true partner, not just a vendor.  

What advice would you give to other woman-owned or diversity-certified businesses about providing unique value to clients like the Federal Home Loan Banks? 
Don’t be a one-size-fits-all shop. Your certification is great and will get you to the table, but when you get there, you need to have a unique value proposition that’s specific to your customer. It’s especially important to be specific about values and intentions, measure your results so you can share those stories, and say no to things that don’t put you in a position to fulfill that value add.   

What do you wish large organizations knew about working with woman-owned or diversity-certified businesses
Does your organization look like the customer you serve? You are positively impacting so many other lives and communities when you choose to say yes to working with a diverse business.