Contract Analyst

Redstone Federal Credit Union•Huntsville, AL

2d•Onsite

About The Position

Under the direction of the Vice President / Assistant General Counsel or designee, the Contract Analyst supports the Credit Union’s contract intake, contract risk assessment, and third-party vendor contract review processes. This position assists the Third-Party Risk Management (TPRM) team and works in conjunction with Legal Counsel to identify, assess, escalate, and help mitigate legal, contractual, operational, regulatory, and vendor-related risks associated with third party relationships. The position helps ensure contract terms are reviewed for alignment with Credit Union policies, applicable legal and regulatory requirements, third party risk management standards, and the Credit Union’s risk tolerance. The Contract Analyst also maintains contract records and renewal tracking, supports process improvements, and performs other duties within Legal or TPRM as assigned.

Requirements

4 Year / Bachelors Degree - Business, legal studies, or a related field - Required
2 Years - Contract review, legal document review, legal operations, or related work - Required
Ability to identify and summarize contract risks clearly and escalate issues appropriately.
Working knowledge of common contract provisions, including indemnification, limitation of liability, confidentiality, data security, audit rights, insurance, termination, and governing law.
Ability to apply internal policies, approved procedures, and standardized playbooks while recognizing when legal counsel review is required.
Strong organizational skills and ability to manage multiple contract matters, deadlines, renewals, and priorities.
Strong written and verbal communication skills, including the ability to communicate professionally with business owners, vendors, Procurement, TPRM, Legal, and management.
Ability to use tact and diplomacy in sensitive and confidential matters.
Strong attention to detail, sound judgment, and ability to maintain accurate records and reports.
Ability to learn and apply information related to Credit Union products, services, regulatory requirements, and vendor risk management expectations.
Proficiency with standard business software and ability to learn contract management, vendor management, document management, and AI-enabled contract review tools.
Ability to understand and follow written and oral instructions, work independently, and collaborate effectively across departments.

Nice To Haves

Paralegal certificate, contract management certification, risk management certification, or similar credentials - Preferred
Experience supporting contract administration, vendor management, procurement, legal operations, compliance, third-party risk management, or related functions within a financial institution or other highly regulated industry - Preferred
Experience with contract lifecycle management systems, vendor management platforms, document management systems, or contract AI tools - Preferred

Responsibilities

Assists with contract intake, triage, and tracking, including reviewing submissions for completeness and coordinating with business owners, Procurement, TPRM, and Legal as needed.
Performs initial contract risk assessments and issue-spotting to identify provisions requiring legal review, business-owner input, TPRM review, security/privacy review, or escalation.
Conducts preliminary review of vendor contracts and related documents using approved guidelines and playbooks, and escalates identified legal, regulatory, or contractual issues to Legal Counsel.
Identifies and summarizes contractual risks, including issues involving indemnification, limitation of liability, confidentiality, data security, privacy, audit rights, insurance, termination rights, service levels, regulatory compliance, subcontracting, governing law, and other vendor risk considerations.
Coordinates with TPRM to help ensure contract review is aligned with vendor due diligence, risk ratings, ongoing monitoring requirements, and applicable third-party risk management procedures.
Assists Legal Counsel with drafting, reviewing, and revising contract-related documents, including NDAs, amendments, termination notices, renewal notices, contract summaries, and other correspondence or documentation as requested.
Maintains accurate contract files, contract management system records, renewal and expiration tracking, and related reports to support timely review of renewals, extensions, terminations, and vendor monitoring activities.
Provides contract-related guidance and assistance to Credit Union staff, while escalating legal interpretations, complex risk issues, negotiations, or exceptions to Legal Counsel or other designated approvers.
Assists with development, documentation, and continuous improvement of contract intake workflows, contract review procedures, playbooks, templates, checklists, and other process controls.
Supports implementation, administration, and effective use of contract management tools, contract AI tools, databases, dashboards, and other systems used by Legal, Procurement, or TPRM.
Prepares records, summaries, reports, and management updates related to vendor contracts, contract status, contract risks, renewals, exceptions, and other assigned matters.
Researches contract, vendor management, regulatory, policy, or legal issues as directed by Legal Counsel.
Assists with special projects and other duties within the Legal Department or TPRM function as assigned or requested.
Finds ways to continually improve departmental efficiency, internal service, and quality of support provided to Credit Union staff and members.
Promotes the Credit Union by participating in community involvement and special events, as appropriate.
The role may receive day-to-day direction from the Legal team, TPRM leadership, or other designated stakeholders based on assigned work and business needs.
Maintains a professional image and demeanor at all times, consistently demonstrating Credit Union RISE Values and adhering to the Code of Ethics.
Delivers friendly, caring service to internal and external members.
Complies with all applicable State, Federal and NCUA rules and regulations and all Credit Union policies and procedures.
Follow all physical and online security procedures and maintain strict confidentiality of all member information.
Completes all required regulatory and compliance training and maintains required knowledge of Credit Union products and services.
Works scheduled hours and maintains punctuality.
Performs other related duties as assigned or requested.