What does a contract manager do?
A contract manager is someone, who manages the entire contract lifecycle for a company. The contract management services include negotiation, implementation and administration of contracts. With accuracy as the primary benchmark, a contract manager ensures that the contracts are drawn and executed in compliance with the company’s policies and regulations. Besides curating and executing the contracts, the contract manager’s role entails managing the enforcement of the contract by ensuring that all parties involved adhere to the terms stipulated in the contract. High accuracy and negotiation skills are indispensable qualities that are vital to the contract manager job role.
You might hire a contract manager to:
- Prepare the contracts, keeping in mind the stipulations and negotiations made by the two parties
- Partake in the review, analysis and renewal of the contracts
- Create a contract management system internally in order to simplify the workflow related to contracts
- Ensure that all parties adhere to the policies and regulations made in the contract
- Impart legal advice and resolve issues legally for those who are involved in the contract
- Work in a contract administrative role and ensure that the paperwork is drafted and implemented as per national and company-wide policy compliance
Introduction
At [Company X], we believe in empowering our clients and stakeholders by evoking their rights and responsibilities through concise contracts. In order to seamlessly negotiate and execute contracts, we are seeking a highly skilled and certified contract manager. The candidate must be hands-on in every stage of the contract lifecycle, from drafting and negotiation to implementation and renewal. Our company firmly believes in operating within the regulations set by the government and the board of directors, so the contract manager in question must be knowledgeable regarding the laws and regulations surrounding each particular contract. By helping both parties meet the contractual obligations and stipulations, the ideal contract manager must look at the contract lifecycle from a holistic point of view, with accuracy, objectivity and integrity.
Objectives of this role
- Draft, execute and manage the entire contract lifecycle, in a way that is neutral, beneficial and fair to both parties involved
- Ensure that all contractual accountability and duties are met by both the parties signing it
- Perform periodic reviews of the contracts in place and provide resolution services whenever a situation arises
- Educate the stakeholders about their rights and responsibilities as per the conditions laid in the contract
- Establish a contract management system to regulate the contract management workflow
Responsibilities
- Draft, monitor and review contracts across various verticals and scales
- Provide essential contract management services, by resolving conflicts, providing legal advice and renewing and redrafting contracts
- Supervise the performance of the contract and work towards compliance with the terms and conditions mentioned in it
- Prepare reports and documentation on the contract performance and run them by the senior contract manager (if any)
- Update and revise contracts as per the dynamic national legal regulations
- Communicate with internal and external stakeholders on the status of the contracts
Required skills and qualifications
- Bachelor’s degree in finance, law, business administration, or a similar discipline
- Proficiency in contract law
- Prior experience working as a contract manager or a related job role
- Contract drafting and negotiation skills
- Accuracy and high attention to detail
Preferred skills and qualifications
- Certification or specialisation in contract law
- Working knowledge of contract management systems or software
- Ability to multi-task and work independently
