Explore the critical requirements, core duties, primary responsibilities, and key skills that should be included in a comprehensive Contract Administrator job description.
What does a Contract Administrator do?
A contract administrator is responsible for managing a company's contracts, such as rental, sales, purchase, new business proposal, and employment contracts. They work for different types of companies, such as engineering firms, educational institutions, and insurance companies. They are also known as contract managers.
Job Description
We are looking for an analytical contract administrator to handle the drafting and revision of our company's contracts. The contract administrator will analyze and interpret various types of documentation. They will also negotiate contract terms and conditions between different parties. Their duties will include maintaining files for contracts, clarifying employment contract terms with staff, and ensuring compliance with all relevant laws.
To be successful in this role, you need to have a keen eye for detecting errors and inconsistencies in contracts, as well as a thorough understanding of the laws related to specific contracts. Ideal candidates are detail-oriented, accountable, and skilled at multitasking.
Job Duties and Responsibilities
- Collaborating with staff at all levels of the company to determine the best contract strategy.
- Creating standardized language and guidelines for contracts.
- Reviewing contracts to ensure compliance with language guidelines.
- Working with internal procurement, legal, and human resources teams to ensure contract compliance.
- Clarifying contract processes, conditions, and details with management, business partners, and employees.
- Gathering contract-related information from relevant parties.
- Reviewing contracts for accuracy and resolving any discrepancies according to company rules and guidelines.
- Ensuring all necessary documentation is included with contracts and maintaining both digital and hard copies of relevant documents.
- Acting as a liaison between parties during contract development and negotiations, and making any necessary revisions.
- Identifying potential risks that contract changes may pose to the company.
Requirements and Qualifications
- Bachelor's degree in business administration, mathematics, accounting, or economics (master's degree preferred).
- At least 2 years of related experience.
- Thorough knowledge of legal requirements related to contracts.
- Experience with SAP/ERP preferred.
- Proficiency with MS Office, including Excel, Word, and PowerPoint.
- Strong organizational skills.
- Excellent written and verbal communication skills.
- Strong reading and comprehension abilities.
- Ability to detect errors and inconsistencies.
Contract Administrator Salary
The earning potential of a Contract Administrator can vary significantly based on factors such as geographic location, industry, professional experience, educational background, and the specific employer. On average, the annual salary for an Contract Administrator in the United States is approximately $69036.
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