Contracts Specialist

Contracts Specialist-38307University StaffDescriptionUniversity of Colorado Anschutz Medical CampusDepartment: Emergency MedicineJob Title: Contracts SpecialistPosition #00824466: – Requisition #: 38307Job Summary:The Contracts Specialist plays a critical role in the development, management, and oversight of departmental contracts. Operating independently and collaboratively within a dynamic and diverse professional environment, this position ensures the integrity and compliance of all contractual processes. The Contracts Specialist is expected to perform duties at an advanced and expert level, maintaining full accountability for contract review, approval, and monitoring, while contributing to the strategic growth and success of departmental goals.Key Responsibilities:Contract Development and ManagementServes as the Subject Matter Expert in contracts development and management and responsible for articulating complex contract issues and communicates effectively to diverse stakeholders including faculty, staff and leadership (Chair and Vice Chair for Finance and Administration).Responsible for working with CU Medicine and other funding agencies for the creation and management of external contracts.Study the legalities of contracts and help to negotiate terms and conditions with faculty and third parties, before drafting agreements to outline terms of service and project deliverables.Provide contract analysis and summaries and ensure contract execution accomplished in accordance with company policy.Maintain a comprehensive knowledge of all University and CU Medicine regulations, rules, and laws governing the procurement and contracting processDevelop departmental tax allocation process on all clinical and contract income.Craft, evaluate, negotiate and execute a wide variety of different contracts covering a range of transactions.Create and maintain relationships with partners and university personnel and serve as the singular point of contact for matters concerning contracts.Maintain records for correspondence and documentation in relation to established contracts and those in progress.Monitor contracts and move forward with close-out, extension or renewal.Solve any contract-related problems that may arise with other parties and internally within the department.Update and maintain internal tracking database with detailed descriptions of the agreement with financial terms and actionable dates.Work with procurement team to ensure timeliness of supplier setup and payment schedules.Provide support to procurement team with processing of contract agreements and supporting documentation.Provide direction on necessary steps needed to finalize agreements and outline all expenses related to the agreement.Provide expertise to faculty members related to compensation and scope for agreements.Collect hours for monthly payments and process compensation in a timely manner.Bill internal and external entities based on terms of arrangement.Investigating and identifying solutions for contractual issuesNegotiating contractual terms and conditionsOversee contracts from drafting all the way to executionKey point of contact between a business and third parties to ensure timely review and approval of any variationsStreamlining communication and automating processesEnsure that all contracts adhere to university and state laws, thereby preventing legal complications down the line.Utilizing digital tools and platforms, streamline workflows, making the contract process more efficient and less time-consumingProvide detailed accounting for faculty and finance staff to outline current status of agreements and balance information on a scheduled and ad-hoc basis.Uphold university policies and procedures for all agreements and communicate with all parties to remain compliant.Developing and implementing procedures and policiesPerform other duties as assigned.Financial Analysis & ReportingAnalyze financial data to identify trends, variances, and opportunities for improvement.Ensure accuracy and timeliness of financial reporting in compliance with University and State policies and guidelinesProvide financial guidance and recommendations to support strategic decision-making.Account Monitoring & ComplianceReview and monitor all departmental accounts for valid and allowable expenditures.Ensure financial transactions comply with institutional policies and federal guidelines.Investigate discrepancies and resolve issues related to account activity.Maintain documentation and audit trails for all financial transactions.Maintain accurate records and financial databases.Collaborate with cross-functional teams including procurement, grants, and research administration.Work Location:Hybrid – this role is eligible for a hybrid schedule of 3 days per week on campus and as needed for in-person meetings.Why Join Us