Contract Manager Job Description
Negotiating, analyzing, preparing and revising contracts is part of the job description of a contract manager. The contracts may involve the sale or purchase of products and services such as supplies, equipment, materials and other items.
The daily work of a contract manager can vary depending on the size of the company and the products or services that are manufactured and sold by the company, but in all cases the contract manager ensures that every contract signed benefits the company.
Essential Duties and Responsibilities of a Contract Manager
- Provides responses to bids, proposals and contract negotiations.
- Prepares requests for proposals for distribution to vendors.
- Develops a set of standard contracts for the company.
- Analyzes all requirements and provisions in contracts, including terms and conditions, to ensure compliance with all laws and regulations and company policies and procedures.
- Ensures that contracts are executed in accordance with corporate guidelines.
- Conducts research prior to writing contracts.
- Audits existing contracts and oversees contract modifications.
- Analyzes a contract’s risk to the business.
- Visits client sites and meets with business partners.
- Monitors the performance of each signed contract.
- Ensures that business goals are accomplished by contract implementation.
- Trains and supervises other contract professionals.
- Communicates contract implementations to subordinates.
- Maintains a computer database for the company’s contract management system.
- Conducts analysis of new laws, regulations and contract trends to determine potential impact on the business.
- Coordinates with the finance department to ensure correct billing and collection of contractual revenues.
- Ensures that contracts are in line with corporate goals and objectives.
- Leads complex contract negotiations and manages all changes in and addendums to existing contracts.
- Identifies potential improvements to existing policies.
- Prepares reports on the status of contracts for management.
- Conducts special projects as assigned.
- Negotiates and oversees leasing agreements.
Required Knowledge, Skills and Abilities
- Possesses a working knowledge of company policies and procedures.
- Has knowledge of international contract law and mergers and acquisitions regulations.
- Demonstrates excellent written and verbal communication skills.
- Exhibits strong analytical and critical thinking abilities.
- Possesses excellent persuasion, negotiation and judgment skills.
- Displays exceptional management skills.
- Has working knowledge of financial analytics and profit and loss implications.
- Demonstrates superior presentation skills.
- Possesses strong leadership skills.
- Has excellent technological knowledge and abilities.
- Exhibits exceptional mathematical abilities
- Possesses extensive knowledge of federal, state and local laws, regulations and codes.
Education and Experience
- Bachelor’s degree in business.
- Master’s degree in business administration.
- Certified Commercial Contracts Manager (CCCM)designation through the National Contract Management Association.
- Certified Professional Contracts Manager (CPCM) designation through the National Contract Management Association.
- Certified Federal Contracts Manager (CFCM) designation through the National Contract Management Association.
- Experience in contract preparation and management.
- Works regular hours of 8:00a.m. to 5:00p.m. Monday through Friday.
- Travels when necessary to branch offices or client sites.
- Spends hours in front of a computer screen in a climate controlled office environment.
- Meets tight deadlines and endures high pressure or stressful situations.
- Participates in lengthy meetings with clients and company management during contract negotiations.
- Salaries for contract managers range from $50,000 to $100,000 depending on the size of the company, the contract manager’s specific responsibilities, degree of education and level of experience.