A diverse supplier base is critical to the success of our business and an important part of our culture of inclusion.
Citizens Supplier Diversity initiative creates meaningful and measurable progress in advancing inclusion across the company and the communities we do business with and serve.
We believe that the performance of our suppliers has a direct impact on the quality of our products and services. As such, we select suppliers based on quality, service, and value. Working with a diverse supply base strengthens our supply chain while maintaining both economic and social benefits. We believe it is important that our supplier base reflects the diversity of the communities in which we live, work, and trade.
Citizens partners with national and regional organizations that provide third-party certifications. Some of the organizations listed below are approved to provide certifications, while others partner with advocacy groups to provide a full set of member services. Certifications from other similar organizations may be accepted on a case-by-case basis, but restrictions may apply.
In addition to our Partner Organizations (and their certifications) listed above, we also recognize certifications issued by State and Federal Agencies.
To qualify as a diverse supplier, the business must be headquartered in the US and be at least 51% owned, operated, and managed by someone who fits in one or more of following categories:
We constantly seek new and innovative ways to deliver more value to our customers while strengthening communities where we do business. Diverse-owned businesses are encouraged to register with Supplier.io, our partner for diverse-vendor management. Registering with Supplier.io, allows Citizens to easily find the company when searching for vendors to meet the needs of the bank.
Registration is not a guarantee of business or that a company will be selected for inclusion for bidding. Once a vendor is identified for an opportunity, they will be contacted and given further direction on our RFP process.
Citizens seeks to amplify the positive impact of supplier diversity by asking our suppliers (companies that sell directly to our firm) to also do business with diverse companies. Our firm tracks the dollars of our suppliers spend with diverse businesses. We refer to this as Tier 2 spend. Tier 2 spend dollars can be measured in two ways: Direct and Indirect.
Direct Spend
When suppliers engage diverse businesses directly on Citizens contracts and report the amount paid to diverse suppliers, we consider this Direct spend. Each 2nd tier dollar can be traced back to a specific diverse supplier and to a specific project.
Indirect Spend
Indirect spend is calculated by prorating the supplier's company-wide diverse spend with the percentage of its total business represented by Citizens' business.
We have a dedicated reporting system to enable our suppliers to report their diverse spend on a quarterly basis.
Here are the reporting schedule due dates:
Quarter | Month | Report Due Date |
---|---|---|
First Quarter | January - March | May 15th |
Second Quarter | April - June | August 15th |
Third Quarter | July - September | November 15th |
Fourth Quarter | October - December | February 15th |
Prime/Tier I suppliers should report Tier II Supplier spend here.
Have questions? Email supplierdiversity@citizensbank.com for more information.
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