The Contracts Management Officer is responsible for overseeing the contract administration process, coordination with stakeholders, and compliance with contractual obligations of vendors/suppliers to ensure efficiency, minimize risks, and to foster strong vendor/supplier relationships.
Responsibilities
- Develops and reviews vendor contracts by collaborating with various business units to understand their needs and objectives, ensuring compliance with regulatory requirements, as well as bank policies and standards
- Continuously enhance the bank's contract templates by integrating insights from negotiations, aligning with regulatory updates, and adapting to industry trends
- Negotiate legal and commercial contract terms with vendors, incorporating business unit and service delivery manager requirements to achieve optimal outcomes while fostering and maintaining strategic relationships
- Propose enhancements to policies, standards, and processes to continuously optimize contract management operations, with a focus on improving processing times and strengthening compliance and controls
- Manage and oversee all vendor contracts for the bank, ensuring adherence to agreed terms, conditions, and obligations, including the timely submission of insurance bonds and non-disclosure agreements
- Supervise and mentor the contract management staff to ensure compliance with HR policies, enhance employee engagement, and promote professional development opportunities
- Serve as the Subject Matter Expert for the entire bank on vendor contract terms, provisions, contract management processes, and regulatory compliance. Offer strategic recommendations for overcoming various negotiation challenges
- Prepare and deliver detailed reports to senior management regarding the bank's vendor contractual engagements, compliance status, issue resolutions, and progress on improvement initiatives
Qualifications
- Bachelor's Degree preferably any pre-law course
- 2-3 years experience in banking operations and contract management
- Knowledge of outsourcing and service management concepts
- Understanding of contract law principles, terms, and condition
- Proficiency in oral and written communication
- Leadership, Coaching, and People Management skills
