Contract Analyst

Job Description

Job Description

The Contract Analyst serves as an internal consultant, collaborating with assigned business units to optimize contractual agreements in both business and legal terms. This role supports the full contracting project lifecycle, including:

• Stakeholder Engagement
• Existing Contract Review and Assessment
• Market/Industry Research
• Spend Analysis and Contract Redline Drafting/Management
• Negotiation Planning
• Internal/External Communications
• Proposal Analysis
• Price, Product, Service, and Legal Term Negotiations
• Formal Presentation/Recommendation
• Contract Executive Summary Drafting and Execution
• Project Closeout
• Some travel may be required.

Duties and Responsibilities:

• Engage relevant stakeholders to define, clarify, and refine specifications and scopes of work.
• Meet regularly with suppliers and stakeholders to identify opportunities for creating additional value in existing contracts.
• Address past vendor performance concerns by proactively enhancing Service Level Agreement commitments.
• Analyze historical spend data to develop forecasts and identify expected trends.
• Mitigate risk by incorporating contractual protections based on market and industry trends, as well as vendor insights.
• Negotiate and draft contract renewals, amendments, addendums, terminations, and rebates.
• Lead contract redlining processes in collaboration with stakeholders and legal partners.
• Provide business recommendations based on the optimal value generated during contract renewal review and negotiations.
• Manage multiple concurrent project timelines and eliminate barriers to prevent derailments.
• Present complex information in a concise and easily understandable manner to diverse audiences.

Preferred Work Experience & Education:

• Bachelor's degree from a four-year university or equivalent.
• Experience in contract management, procurement, or supply chain management.
• Previous involvement in contract legal review processes.
• Proficiency in Microsoft Office, particularly Word and PowerPoint.
• Knowledge of contract terminology and best practices.
• Experience in reviewing, managing, and interpreting large or complex data sets.
• Exposure to handling multiple concurrent contract negotiations.
• Proven ability to build impactful relationships with internal and external business partners.

Success Criteria:

• Approachability As a customer-facing role and vendor point of contact, approachability is essential. The ideal candidate should be open and welcoming to stakeholder and vendor inquiries, proactive in gathering information, and capable of establishing positive professional relationships.
• Communication This role requires relaying information to various audiences, including business units, leadership teams, vendor representatives, and legal teams. The ability to condense complex information and communicate it clearly is crucial.
• Dealing with Ambiguity The necessary information may not always be readily available. Success in this role requires the ability to navigate uncertainty and define unknowns effectively.
• Patience Contract management involves maintaining long-term relationships over several years. Patience is essential for fostering productive, sustainable interactions.
• Perseverance Contract renewals and supplier relationship management deadlines may encounter setbacks. The right candidate must demonstrate resilience and professionalism in overcoming challenges.
• Problem Solving The ability to assess problems holistically and develop creative solutions, even when immediate answers are unclear, is essential. This role requires critical thinking and a problem-solving mindset.