Contract Specialist or Sr. Contract Specialist

Job Posted 5/19/2022
Ent Credit Union
11550 Ent Parkway
Colorado Springs, CO 80921
United States
Category Banking
Employee
Full-Time
Experience Required
Degree Required
Industry
Banking / Financial Services
Pay
$60,507.20 to $94,182.10 Per Year
Job Description

The Contract Review Specialist reviews all new vendor contracts and maintains all existing vendor contracts. This position carries out and/or coordinates due diligence duties on all vendors. This position is crucial in supporting key Third Party risk management requirements (i.e. monitoring, audit, contract owner training etc.) and may assist the General Counsel with additional duties such as document delivery/pickup, drafting of contract related correspondence or other administrative legal functions as needed.

Essential Functions:

  • Review, draft, and negotiate all new vendor contracts to meet the needs of Ent. Review, analyze, amend, and /or re-negotiate existing contracts as appropriate. Provides actionable recommendations to leadership and business units.
  • Administration of the vendor management software, including maintenance of the vendor management database. Ensures all necessary vendor / contract documentation is tracked, stored, and managed appropriately. Ensures proper contract execution based on established limits of authority.
  • Performs and/or coordinates vendor due diligence in support of Third Party Risk Management and business unit needs.
  • Bank Secrecy Act: Remains cognizant of and adheres to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Qualifications

Minimum Formal Education Required for both Positions:

  • Bachelor's Degree in Business, Project Management, Business Law, or other similar experience.

Minimum Work Experience for Contract Specialist:

  • 2+ years' work experience evaluating/managing/drafting/negotiating vendor contracts, administering vendor due diligence, or other related work experience required during contract analysis, review, drafting, negotiation and management. required

Minimum Work Experience for Contract Specialist Sr.:

  • 5+ years’ work experience evaluating/managing/drafting/negotiating vendor contracts, administering vendor due diligence, or other related work experience requiring contract analysis, review, and authorization.

Technical or Specialized Knowledge/ Skills:

  • Demonstrates strength analyzing new regulations and determining the possible impact on the organization as it relates to contracts.
  • Exceptional ability to analyze and create written documents (contracts primarily).
  • Excellent attention to detail and problem solving ability.
  • Ability to operate well with all levels of corporate professionals.
  • Able to adjust communication style to match the audience being addressed.
  • Able to explain complex legal concepts and terms in relatable ways to build understanding and acceptance of regulatory changes that may be required.
  • Energetic individual with unusual initiative.
  • Commitment to outstanding performance.
  • Demonstrates a strong orientation towards customer service.

Certifications Required:

  • None
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