Contract Risk Specialist
About The Position
The Contract Risk Specialist protects the company by reviewing contracts for quality and ensuring they remain aligned with changing business needs. The position supports the contract lifecycle through agreement review, documentation of key terms, risk identification, drafting redlines, negotiation support, contract reporting, and contract-governance processes. It works closely with Corporate Legal, Enterprise Resource Planning, business stakeholders, and third parties. The primary focus is third-party contracts, technology agreements, negotiations, renewals, and contractual risk management, while supporting all Risk Management teams. The role reviews and summarizes a broad range of third-party and other company agreements, identifies and escalates contractual risks, proposes contract language, coordinates negotiations, and maintains contract records, including in the Oracle Contract Module. It monitors obligations and renewals, prepares summaries and reporting for leadership, and develops documentation and repeatable processes for contract review and management. The position also partners with ERP and reporting resources to improve contract data, dashboards, and reporting; supports contract-management software and process improvements; and assists the Third Party Risk team with vendor due diligence, renewals, documentation, and related risk projects. The role is hybrid, with three days remote and two days in the office, and requires minimal travel.
Responsibilities
- Review, analyze, and summarize third-party and other company agreements to identify contractual, operational, financial, regulatory, information-security, and reputational risks.
- Identify contract provisions that may create financial exposure, operational dependency, regulatory or security risk, vendor concentration risk, business continuity risk, or reputational risk, and escalate concerns appropriately.
- Draft and propose contract redlines using approved company templates, playbooks, and risk-management standards.
- Lead or coordinate negotiations on provisions such as indemnification, liability limits, confidentiality, information security, privacy, incident notification, audit rights, insurance, business continuity, service levels, pricing, termination, and regulatory compliance.
- Prepare contract-risk summaries, negotiation issue logs, recommended language, and briefing materials for leadership, Corporate Legal, and business stakeholders.
- Track and maintain contract records, amendments, statements of work, and other documents, including in the Oracle Contract Module.
- Identify and summarize key contract terms, including renewal dates, notice requirements, termination rights, pricing obligations, fees, service levels, data security, indemnification, and liability limits.
- Evaluate vendor contract language and propose amendments; provide documentation and summaries to support negotiations and renewal decisions.
- Monitor contracts for compliance, facilitate execution, and maintain nondisclosure agreements as needed.
- Research contract requirements and coordinate with business owners to ensure obligations are understood, documented, and monitored.
- Report contract volume, renewal status and timelines, negotiation progress, open issues, and contractual risk trends to leadership and senior management.
- Develop and maintain contract checklists, summaries, templates, intake documents, and process documentation.
- Verify compliance with executed agreements and help business owners identify follow-up items needed to meet contractual requirements.
- Work with ERP and reporting resources to develop Oracle reporting that improves visibility into contractual risks, renewal timing, termination windows, pricing commitments, vendor minimums, and other obligations.
- Maintain contract data fields, trackers, dashboards, and reporting inputs; develop queries, manipulate and validate data, improve reporting processes, and support special projects.
- Assist with discovery and implementation of third-party risk management software and contract lifecycle management processes, including enhancements, data cleanup, and process improvements.
- Help develop repeatable contract-management policies and processes for intake, review coordination, term capture, renewal reminders, escalation, and reporting.
- Assist the Third Party Risk Manager and Supervisor with technology vendors, renewals, contract documentation, vendor-risk reporting, and contract-related follow-up.
- Support third-party due diligence, document collection, and projects, including third-party cybersecurity and incident response.
- Perform other duties as assigned.
Benefits
- Medical and dental plans with prescription coverage and vision.
- 401(k) with a 100% company match on the first 4%.
- Paid time off and holidays.
- Maternity and paternity leave.
- Volunteer paid time off.
- Tuition assistance for a first degree.
- Onsite fitness facility with a full gym, workout classes, volleyball and basketball courts, ping-pong, and a disc golf course.
- Onsite restaurant.
- Wellness programs covering emotional, social, spiritual, intellectual, environmental, physical, and financial well-being.
- Professional development and promotional opportunities.
- Competitive bonus programs.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
