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Contract Administrator
2 weeks ago
As a Contracts Manager, the role involves overseeing the entire lifecycle of a contract, from initiation and drafting to execution, management, and closeout. Your key objective is to ensure that all contractual obligations are met, risks are minimized, and the project runs efficiently within legal, financial, and operational boundaries.
Responsibilities and Tasks:
1. Pre-Award Stage (Contract Preparation and Negotiation)
o Review and Draft Contracts:
Support the preparation and review of contracts (e.g., Service Agreements, NDAs, purchase agreements) to ensure alignment with company policies and legal standards.
Identify and incorporate project scope, deliverables, terms, and conditions.
o Risk Assessment:
Assess potential risks (financial, operational, legal) and propose mitigation strategies.
Highlight any deviations from standard terms.
o Negotiate Contract Terms:
Lead or assist in negotiating commercial and legal terms to achieve a mutually beneficial outcome.
Ensure clarity on obligations, liabilities, and performance criteria.
o Stakeholder Collaboration:
Work closely with the legal, finance, technical, and procurement teams to incorporate their inputs during contract drafting.
Ensure that internal approvals are secured before finalizing contracts.
2. Post-Award Stage (Contract Management and Execution)
o Contract Execution and Administration:
Ensure timely signature and proper execution of contracts by authorized parties.
Distribute fully executed agreements to relevant stakeholders.
o Performance Monitoring:
Track milestones, deliverables, and obligations to ensure compliance with contract terms.
Identify and monitor key performance indicators (KPIs) for contractors, vendors, or internal teams.
Approve CVs of resources being onboarded.
Track and monitor weekly timesheets submitted by contractors.
Prepare analysis and comparison statements and present them to internal stakeholders.
o Change Management:
Manage change orders or variations when there are modifications to the scope, schedule, or price.
Document and negotiate any amendments to the original contract.
o Issue and Dispute Management:
Address conflicts or disputes arising from non-performance, ambiguities, or delays.
Follow formal escalation and dispute resolution procedures as outlined in the contract.
3. Compliance and Risk Management
o Contract Compliance:
Ensure all parties meet their contractual obligations, including quality, delivery, and payment timelines.
Verify adherence to applicable laws, regulations, and internal policies.
o Risk Mitigation:
Identify and manage potential contractual risks (e.g., penalties, indemnities, liabilities).
Work with legal teams to minimize exposure to claims or disputes.
o Insurance and Bonding:
Ensure relevant insurances (e.g., Professional Liability, Workers Compensation) or performance bonds are in place as per the contract requirements.
4. Financial and Documentation Management
o Payment Certification and Tracking:
Support the certification of contractor invoices with support from the project team.
Certification of expense incurred and the invoice.
Monitor invoicing and payment schedules to ensure timely payments and resolve billing disputes.
Track milestones linked to payments (e.g., progress payments or retention).
Prepare and manage the SAP system entries and approvals for processing the payments.
o Record Keeping and Documentation:
Maintain an organized repository of contracts, amendments, correspondence, and approvals.
Ensure version control and document confidentiality.
o Reporting:
Prepare regular reports on contract performance, risks, or compliance issues for senior management.
Highlight any deviations from contractual terms and recommend corrective actions.
5. Closeout and Lessons Learned
o Contract Closeout:
Ensure all contractual obligations are fulfilled, including final payments, deliverables, and warranties.
Obtain formal sign-off or closeout certification from the client or vendor.
o Lessons Learned:
Conduct reviews to identify successes, failures, and areas for improvement in future contracts.
Document lessons learned for future reference.
6. Skills and Qualities Required:
o Understanding of contract law and industry-specific regulations.
o Excellent negotiation, communication, and stakeholder management skills.
o Analytical mindset for assessing risks and solving disputes.
o Attention to detail to identify discrepancies in contract terms.
o Organizational skills for managing multiple contracts simultaneously.
o Proficiency in contract management software or tools (e.g., SAP, Oracle, Procore).
