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Contract Specialist

1 month ago

Richardson, United States Dynamic Access LLC Full time
Job DescriptionJob Description

Job Overview: As a Contract Specialist, you will be responsible for overseeing and managing contractual agreements between our organization and its vendors, clients, or partners. Your role will involve ensuring that contracts are drafted, negotiated, and executed efficiently and effectively, while minimizing risks and maximizing operational value.

Key Responsibilities:

  1. Contract Drafting and Review: Prepare, review, and analyze contracts, ensuring they comply with company policies, legal requirements, and industry standards; acquisition integration of contracts; Define Master Services Agreement (MSA); build transition plan to convert acquired and existing contracts to MSA
  1. Negotiation: Participate in contract negotiations with external parties, aiming to secure favorable terms and conditions that mitigate risks and align with organizational objectives.
  2. Contract Administration: Manage contract lifecycle activities from initiation to close-out, including amendments, extensions, and renewals. Identify contractual challenges/deviations and identify business and process implications
  3. Risk Management: Identify potential contractual risks and propose mitigation strategies to protect the organization's interests.
  4. Compliance: Ensure contracts adhere to regulatory requirements and internal policies, collaborating with legal and compliance teams as necessary.
  5. Relationship Management: Build and maintain relationships with stakeholders, including vendors, clients, and internal departments, to facilitate effective contract management and resolution of issues.
  6. Performance Monitoring: Monitor contract performance against agreed-upon metrics and milestones, addressing deviations and implementing corrective actions as needed.
  7. Documentation and Reporting: Maintain accurate contract records and documentation, preparing reports and summaries for management review and audits including routine reporting of contract party and other critical metrics.
  8. Other duties as assigned

Skills and Qualifications:

  • Bachelor’s degree in Business Administration, Law, Finance, or related field (a Master’s degree or certification in Contract Management may be preferred).
  • Proven experience as a Contract Specialist or in a similar role, with a solid understanding of contract law and negotiations; minimum 3 years of experience.
  • Strong analytical and problem-solving skills, with the ability to assess risks and recommend appropriate actions.
  • Excellent communication and interpersonal skills, capable of building relationships and influencing stakeholders.
  • Attention to detail and organizational skills, with the ability to manage multiple contracts simultaneously.
  • Proficiency in contract management software and Microsoft Office Suite.
  • Experience with SalesForce
  • Familiarity with Sage Intacct a plus
  • Health care services experience a plus
  • Advanced Excel skills

Additional Requirements:

  • Knowledge of industry-specific regulations and standards (depending on the sector).
  • Familiarity with government contracting processes (if applicable).
  • Ability to work independently and as part of a team, with a commitment to meeting deadlines and achieving results.

Working Conditions:

  • Typical office environment with regular hours, though some flexibility may be required during peak periods or for urgent contract negotiations.