SUMMARY: The Contract Lifecycle Manager ("CLM") is primarily responsible for monitoring contracts and tracking deliverables, obligations and key milestones by collaborating with department leaders and external vendors in the administration of contracts, vendors and outsourcing bank-wide. The CLM maintains liaison with functional departments for the purposes of obtaining information on new business and providing information on extensions of existing contracts. The CLM is the consistent point of contact for internal employees and external stakeholders and is responsible for gathering all pertinent documents. Upon contract execution, the CLM is responsible for various critical milestones that affect the lifecycle of each contract, such as archiving, triggering the invoicing stage, and creating automated alerts for terminations/renewals.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.
- Work cross-functionally with enterprise-wide stakeholders (frequently with Procurement, Accounting, Finance, Facilities, Human Resources, and Information Technology) to drive comprehensive oversight of the contract lifecycle via the Coupa business spend management software.
- Fulfill contract lifecycle management (CLM) responsibilities, which include understanding the purpose for each purchase contract request, verifying all Coupa datapoints, facilitating DocuSign execution, and completing post-execution tasks.
- Perform contract request initial assessment of order forms, statements of work, agreements (primarily master services, professional services, consulting, staffing, recruiter, lease, and license agreements), and a myriad of other purchase contracts.
- Meet SLAs as set forth by the standard operating procedures.
- Escalate to commercial attorney team members to initiate contract drafting, negotiation, and review and collaborate with the team as needed.
- Manage the e-signature process for contract execution.
- Create project summaries detailing a full explanation of the technology and business needs.
- Maintain an up-to-date contract lifecycle checklist, which serves as a guide to help CLM to carefully review and finalize purchase contracts in their entirety prior to execution.
- Complete Coupa workflow for each contract request and ensure that all records are accurate and up to date.
- Build productive and collaborative relationships with internal and external stakeholders as a trusted CLM subject matter expert.
- Attend meetings to assess progress on projects which are in motion, and take detailed notes to share with stakeholders.
- Create regular status reports regarding progress on projects.
- Analyze contracts to ensure compliance with state and federal laws and regulations.
- Enhance Coupa functionality and continually improve process by working with the procurement team, external Coupa account managers, and the relevant Coupa software development stakeholders.
- Maintain appropriate levels of knowledge related to Contract and Vendor Management industry trends through training, industry--related articles and trade magazines.
- Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
- Adheres to Bank policies and procedures and completes required training.
- Identifies and reports suspicious activity.
EDUCATION
Bachelor's Degree required
EXPERIENCE
- 1-3 Years related experience preferred
KNOWLEDGE, SKILLS AND ABILITIES
- Excellent negotiations skills and experience negotiating contracts or related role
- Strong interpersonal skills and experience in interacting with all levels of internal personnel, as well as with legal counsel and outside contractors/vendors.
- Excellent problem-solving skills particularly as relates to contract-related problems.
- Excellent verbal and written skills.
- Must have excellent analytical thinking skills and problem solving abilities.
- Possesses superior attention to detail in order to spot inconsistencies in contracts
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BankUnited
Jan 06, 2025