Patrick Coster
About Patrick Coster
Patrick Coster serves as the Senior Vice President and Chief Procurement Officer at the Federal Reserve Bank of New York, where he has worked since 2018. He has extensive experience in procurement, strategic sourcing, and supplier risk management, having previously held senior roles at Lehman Brothers and Scotiabank.
Work at Federal Reserve Bank of New York
Patrick Coster serves as the Senior Vice President and Chief Procurement Officer at the Federal Reserve Bank of New York. He has held this position since 2018, contributing to the bank's procurement strategies and initiatives. His role involves overseeing procurement operations, managing supplier relationships, and ensuring compliance with regulatory requirements. Coster's leadership in this capacity focuses on enhancing efficiency and effectiveness in procurement processes.
Previous Experience at Lehman Brothers
Prior to his current role, Patrick Coster worked at Lehman Brothers as Senior Vice President of Global Sourcing and Demand Management from 2004 to 2009. During his five years in this position, he was responsible for strategic sourcing initiatives aimed at achieving cost savings. His experience at Lehman Brothers provided him with a solid foundation in procurement and supply chain management.
Consultancy Role at Scotiabank
Patrick Coster served as an independent consultant for Scotiabank, focusing on third-party risk management from 2017 to 2018. This ten-month role involved assessing and managing supplier risks, which is essential for maintaining robust supply chains. His consultancy experience added to his expertise in vendor management and corporate logistics.
Education and Expertise
Patrick Coster earned a Bachelor of Science in Business Administration from Old Dominion University, studying from 1988 to 1992. He also attended Millfield School in Somerset, U.K., where he studied Business Studies and Engineering Drawing from 1986 to 1988. His educational background supports his extensive experience in procurement, strategic sourcing, and risk management.
Skills in Procurement and Risk Management
Patrick Coster possesses a proven track record in achieving cost savings through strategic sourcing and procurement initiatives. He has demonstrated the ability to lead corporate-wide initiatives and drive organizational change. His skills also extend to travel management, real estate, and facilities management, which complement his procurement expertise and enhance his understanding of corporate logistics.