Published: August 16, 2024 - The Contract Management Specialist manages risk functions such as client acceptance, contract reviews, and engagement compliance, ensuring alignment with internal policies and AFS requirements. This role involves preparing and optimizing financial proposals, including tax and FX treatments, and maintaining accurate Salesforce records for all contracts and sub-contracts. The specialist also conducts contract negotiations with clients and continuously improves proposal materials, CVs, and project citations to enhance the quality of submissions.
An Introduction to Professional Skills and Functions for Contract Management Specialist with a Cover Letter
1. Product Knowledge Overview for Contract Management Specialist Cover Letter
- Assist in the preparation of accurate monthly management accounts in line with set deadlines
- Support in the preparation of monthly reporting updates including commercial packs, ensuring these add real value to business stakeholders
- Integral to the development and analysis of financial insight, to help drive the business forward
- Act as a finance business partner to key stakeholders, including fair but robust challenge, being a finance subject matter expert
- Build solid relationships with stakeholders via excellent communication skills and provide financial support including delivery of departmental cost analysis
- Tracking actual spending vs budget in a month, with a full understanding of the variances
- Continually looking to improve processes and challenge the status quo
- Ownership for the reconciliation and management of key balance sheet codes, ensuring the Financial Accountant is updated at all times
- Support the department in meeting audit requirements
- Ensure compliance at all times with all relevant regulatory accounting policies, along with the practices and procedures of Gymshark
- Maintain a high standard of work adhering to all regulatory legislation and accounting standards
Skills: Financial Reporting, Commercial Analysis, Financial Insight Development, Finance Business Partnering, Stakeholder Communication, Budget Tracking, Process Improvement, Balance Sheet Reconciliation
2. Relationship-building Techniques for Contract Management Specialist Cover Letter
- Prepare monthly billing for service contracts
- Manage contract portfolio and lead governance meetings, deliverables, risk & issues, and formal correspondence processes
- Prepare presentations for contract meetings, taking meeting minutes
- Analyze Contracts and handle Contract changes
- Advise business counterparts (PE, DPE, CU Leader) on the treatment of the respective event, act as a focal point for audit and business controls reviews
- Calls with Project executive, Delivery Project Executive, Client CFO, Accounting
- Prepare invoices on a timely basis in a way that is likely to facilitate prompt payment.
- Review deliverables for compliance with firm policies eg branding, disclaimers, risk mitigation language, and quality standards.
- Ensure the client has received invoices and requested a payment date.
- In case of project delays, propose relevant changes to milestones.
- Manage sub-contractor payments.
Skills: Contract Management, Billing Preparation, Governance Meeting Coordination, Contract Analysis, Audit Support, Invoice Preparation, Compliance Review, Sub-contractor Payment Management
3. Cross-functional Collaboration for Contract Management Specialist Cover Letter
- Lead contract automation process and suggest improvements to the current contracting process at Arriello.
- Suggest changes to Arriello’s standard contractual language and manage standard paragraphs to help us achieve growth with risks minimized.
- Coordinate preparation of contracts from initiation to signing, including confidentiality agreements, master service agreements, project-specific agreements, and data processing agreements.
- Prepare the first contract draft based on the available template after receiving input from the Sales/PM/Vendor Management departments.
- Conduct the legal review of a contract received from a client/vendor and request input from the Sales / PM / Vendor Management departments.
- Participate in negotiation of contract terms to ensure the result is captured in the contract.
- Align contract terms, and flow-down contract terms from client contracts to vendor contracts.
- Coordinate the signature process.
- Maintain the database and contract repository in Arriello’s cloud storage.
- Support areas such as Compliance (ABAC) and/or GDPR following experience and take on learning to be able to act as a go-to for advice in these areas
- Prepare Amendments and Termination Agreements to document changes in the projects.
- Monitor expiry dates and other important milestones in the contract life cycle.
Skills: Contract Automation, Contract Drafting, Legal Review, Contract Negotiation, Compliance Support, Contract Repository Management, Amendment Preparation, Contract Lifecycle Monitoring
4. Revenue Generation Insights for Contract Management Specialist Cover Letter
- Respond to all inquiries originating from both the MDT businesses and the purchasing body
- Process new contract awards and contract extensions
- Load new and revised customer prices onto the internal platform
- Communicate with customers about changes in price/contract/product offering etc
- Investigate any discrepancies between the price quoted by a customer and that on the systems
- Proactively look for opportunities to continuously improve process efficiency and quality
- Raise the bar for contract management and ensure customers’ orders can be processed seamlessly
- Produce usage reports to confirm contracted volumes have been met before changing prices
- Support commercial decision-making through analysis
- Business partners with all operational teams within the organization
- Proactively work with customers to resolve issues that you identify through daily work
Skills: Contract Management, Inquiry Response, Price Loading, Customer Communication, Discrepancy Investigation, Process Improvement, Usage Reporting, Commercial Analysis
5. Key Client Interactions for Contract Management Specialist Cover Letter
- Implement contract processing workflows
- Engage with legal team members during contract negotiations to facilitate necessary approvals
- Use best practices and knowledge of internal and external business issues to facilitate the timely execution of contracts
- Establish and manage comprehensive schedules for programs
- Ensure contract process planning and communications
- Develop training, documentation, and any needed support tools/guidelines to provide continuous reinforcement of contract processes
- Work with teams to develop solutions to remove obstacles blocking success
- Take responsibility for setting up job codes.
- Ensure risk management data is kept up to date (e.g. annual review of JBRs).
- Ensure scope changes are properly reviewed.
- Facilitate second partner reviews.
Skills: Contract Workflow Implementation, Contract Negotiation Support, Contract Execution Facilitation, Schedule Management, Process Planning, Training Development, Risk Management, Scope Review
6. Engagement Strategies for Contract Management Specialist Cover Letter
- Perform risk management functions such as client and engagement acceptance, relationship and independence checks, and AFS.
- Prepare PAC materials and minutes, teaming agreements.
- Prepare standard bid-related documents including CVs and project citations, working with the BD team.
- Review and update internal policies often requested in tenders.
- Manage OGC/RM review of contract terms and ensure any mark-ups are included in the proposal
- Ensure contract and sub-contract terms (eg milestone payments, indexation, exchange rates) facilitate EM and NIDO optimization.
- Continuously improve the quality of CVs and project citations.
- Prepare and maintain standard proposal materials including client references.
- Prepare and optimise financial proposals including correct tax and FX treatment.
- Perform compliance checks on proposals.
- Ensure Salesforce is kept up-to-date and accurate.
- Carry out contract negotiations with the client.
Skills: Risk Management, Contract Review, Bid Document Preparation, Policy Update, Proposal Compliance, Financial Proposal Optimization, Salesforce Management, Contract Negotiation
What Are the Qualifications and Requirements for Contract Management Specialist in a Cover Letter?
1. Key Qualifications for Contract Management Specialist Cover Letter
- Experience in a law firm or in-house legal department
- Demonstrate a solid understanding of legal terminology
- Detail-oriented with a commitment to follow-through
- An independent worker with strong time management, communication and organization skills
- A problem solver with demonstrated critical thinking skills
- Ability to develop creative solutions and work collaboratively
- A quick study, with the ability to succeed in a fast-paced environment
- Ability to work quickly and competently to prioritize, manage, and multi-task in a fast‑paced working environment
- Demonstrate Delta Core Values of integrity, respect, perseverance
- Experience with IP and trademark matters
- Embraces diverse people, thinking, and style
- Consistently makes the safety and security, of self and others, the priority
Qualifications: BA in Economics with 4 years of Experience
2. Accomplishments for Contract Management Specialist Cover Letter
- Experience preparing management accounts
- Comfortable in a culture that embraces change and is fast-moving
- Self-motivated and takes pride in completing tasks to the highest standard.
- Detailed and methodical - Duties are completed accurately and irregularities are investigated.
- Think about and solve new issues and opportunities as the company grows and faces new challenges.
- A team player, who is happy to get stuck in, always willing to help those around them
- Technologically proficient and able to make full use of technology and software to complete tasks efficiently and accurately.
- Manage time and responsibilities to ensure key tasks are completed to deadlines to ensure the rest of the department operates smoothly.
- Good communication skills and ability to communicate effectively to all levels clearly and concisely.
- Excellent Excel skills, along with solid PowerPoint experience
- Part qualified or qualified in ACCA/ACA/CIMA or equivalent
Qualifications: BA in Business Administration with 5 years of Experience
3. Knowledge, Skills and Abilities for Contract Management Specialist Cover Letter
- Experience working with CRM systems
- Understanding of customer and industry value drivers
- Knowledge of contracts and different terms and conditions
- Understanding of corporate financial processes
- Be a team player with the ability to steer and guide others
- Excellent analytical skills and problem-solving attitude
- Customer-oriented with service-minded
- Good communication and stakeholder management skills
- Ability to work under time pressure with a positive and professional attitude to the tasks allocated
- Target-oriented- achieves results in all circumstances, able to adapt and refocus activities
- Fluent spoken and written English and Finnish mandatory, any other Nordic language
Qualifications: BA in Supply Chain Management with 2 years of Experience
4. Education and Qualifications for Contract Management Specialist Cover Letter
- Experience in contract management in the IT and/or business services market.
- Experience in navigating large, complex, matrix management-based organizations
- Good understanding of key legal/ commercial principles and obligations found in service contracts with the ability to question and spot gaps, draft suitable terms and bring in support on complex points.
- Strong communication skills, both written and verbal with the ability to build relationships internally and with clients while working in a virtual environment.
- A confident and collaborative manner and flexibility to work with multiple time zones requiring some out-of-normal working hours
- Ability to balance process, compliance, and risk management activities.
- Client-facing skills, including the ability to articulate, negotiate, and agree on fair terms escalating.
- Numeracy skills and some understanding of deal economics and commercial levers
- Proactive problem solver, able to think laterally and work under low supervision using initiative and with limited guidance/instruction, handling and prioritizing multiple activities.
- Flexible, team player able to adapt thinking/approach to suit the specific circumstances
- Proficiency in the Microsoft Office suite (PowerPoint, Word, Excel)
Qualifications: BA in Law with 7 years of Experience
5. Skills, Knowledge, and Experience for Contract Management Specialist Cover Letter
- Experiences in sourcing and Procurement processes of IT, Contract Management, and Managing Service Providers
- Working knowledge of financial analytics and profit and loss implications.
- Office Administration working experience
- Structured, analytical, and independent way of working
- Solution- and customer-oriented
- Customer-focused and dependable self-starter
- Team-minded with experience in working together with worldwide distributed/international teams
- Experiences in standard frame contracts of major IT vendors (e.g. Microsoft Enterprise Agreement, SAP, Oracle, IBM ESSO, etc.)
- Strong communication and negotiation skills and ability to assert oneself
- Technologically minded, with the ability to learn/ adopt new systems quickly.
- Pronounced ability to communicate in English and German language (in words, in writing and contracting)
Qualifications: BA in Finance with 6 years of Experience
6. Skills Overview for Contract Management Specialist Cover Letter
- Relevant experience in overseeing/monitoring the performance of government contracts
- Background as a COR and/or Contract Specialist
- Professional certification preferred (CPCM, CFCM, and/or DAWIA/FAC-C III)
- Possess knowledge of the Federal Acquisition Regulation (FAR)
- Strong understanding of various acquisition approaches and ability to formulate analyses and create comprehensive documentation
- Strong organization skills and attention to detail
- Excellent verbal communication and writing skills
- Ability to add value in semi-unstructured roles, working with diverse groups of stakeholders
- Ability to manage multiple tasks and perform in high-pressure situations to meet tight deadlines
- Exhibits strong analytical and critical thinking abilities.
- Proficiency with Microsoft Office Suite of tools, including Word, PowerPoint, Excel, and SharePoint
Qualifications: BA in Contract Management with 3 years of Experience