What Does A Contract Analyst Do?

WHAT DOES A CONTRACT ANALYST DO?

Updated: Mai 18, 2025 - The Contract Analysts oversee the management, entry, and maintenance of contracts using advanced software platforms, ensuring accurate loading and tracking of terms and payments. This role coordinates with customers and internal departments to clarify service requirements, monitor equipment status, and ensure seamless communication and documentation flow. Their responsibilities extend to generating detailed reports, scheduling tools and equipment, and supporting the closeout of contracts and grants, ensuring all processes adhere to established deadlines and standards.

A Review of Professional Skills and Functions for Contract Analyst

1. Contract Analyst Duties

Contract Drafting: Work closely with business managers and in-house legal counsel for drafting various contractual agreements.
Agreement Management: Purchase, sale, and service agreements, review supplier agreements, general terms & conditions, amending and renewing agreements.
Trade Approval: Review and approve trade, including monitoring new deal setup in ERP system (Allegro) and ensuring the entry of trade data is accurate and compliant with system and process requirements.
Counterparty Confirmation: Review and confirm counterparties’ trade confirmations.
Discrepancy Resolution: Work with marketers and customers to resolve any discrepancies and return the executed copies to the customer promptly.
Agreement Review: Review transportation and operation-related agreements, engage internal subject matter experts, and help the front office execute agreements.
Trade Approval Process: Make sure trades are approved by internal departments in a timely fashion.
Trade Confirmation Preparation: Prepare Parkland’s trade confirmations, ensure marketers review and sign the confirmations on time as per Parkland’s Delegation of Authority, and send them out to customers for execution.
Document Filing: File agreements, trade confirmations, and any other contract-related documents as per Parkland’s policy.
Terms Maintenance: Support the maintenance of general terms and conditions applicable to the company’s commercial activity.
Contract Review Coordination: Work closely with other internal groups to coordinate the review of the contract terms and provide updates regarding the status of the contract.
Process Development: Promote the development of best practice processes in line with company goals and reporting requirements.
Contract Drafting: Draft commercial contracts/confirmations and responses to counterparties, ensuring these accurately reflect the terms agreed by traders.
Contract Analysis: Review contracts and analyze clauses, obligations, and liabilities.
Commercial Advice: Provide commercial advice to key stakeholders in the business.

2. Contract Analyst Details

Reporting and Analytics: Reporting and analytics for payments and reimbursements.
Remittance Tracking: Tracking remittances and under-payments from managed providers.
Contract Management: Manage loading contracts into modeling contract software such as TriZetto or nThrive.
Customer Coordination: Keep in touch with customer representatives to seek information and clarification about services to be performed and ensure that this information is passed on in an organized manner to the areas responsible for the services.
Maintenance Requests: Make requests for maintenance works, referring to executions of services and accompany the requests to ensure the performance of the services according to requirements and deadlines established.
Status Reporting: Keep up-to-date information about the status of equipment and tools, generate reports, and make this information available.
Equipment Scheduling: Generate equipment schedules and tool warnings to give visibility and predictability to repairs and guarantees for each item.
Measurement Control: Perform opening, control, and closing of monthly measurements of long-term requirements established as well as prepare and control measurement reports of parts and services (RM).
Documentation Management: Keep up-to-date, organized, and easily accessible documentation of contracts such as contracts, contractual indices, measurements, billings, and other relevant documents.
Interdepartmental Coordination: Interface with sectors involved in the measurement process (Engineering, Production, Planning, and Quality) to ensure the accuracy of information and support each area with relevant updates.
Grant Communication: Maintain ongoing updates and communications related to current grants and contracts, including regular auditing and reporting to principal investigators and departmental leadership.
Closeout Support: Provide information and direct assistance required to complete contract and grant closeouts.
Correspondence Tracking: Maintain a record of internal and external contractual correspondence for each transaction.
Transaction Validation: Validate transactions internally against broker and counterparty confirmations.
Data Verification: Verify accuracy and timeliness of deal input and revise transaction information in the system

3. Contract Analyst Responsibilities

Contract Form Development: Recommend and establish contract forms and procedures.
Bid Proposal Management: Develop and process bid proposals and agreements.
Contract Interpretation: Interpret contract terms and monitor adherence.
Problem Resolution: Recommend solutions to contractual problems.
Contract Management: Develop and manage a variety of contracts for professional or consultant services, products, material purchases, etc.
Contract Drafting: Draft contract terms and agreements.
Review Coordination: Coordinate the review process with management, counsel, purchasing agents, vendors, and other applicable parties.
Approval Coordination: Coordinate the approval process, including Board Agenda Items (BAI) for contracts that require the Board of Supervisors's approval.
Contract Compliance Monitoring: Review and monitor contracts and ensure compliance and/or performance requirements are met.
Expenditure Review: Review expenditures and purchase orders.
Site Visit Coordination: Coordinate site visits and provide support in performance audits.
Specification Preparation: Research, analyze, and prepare specifications and conditions.
Proposal Issuance: Coordinate the issuing of proposals and evaluation of bids.
Contract Negotiation: Negotiate and interpret contract terms and agreements.
Grant Research: Research and apply for a variety of grant opportunities from federal, state, local, and other resources.

4. Contract Analyst Job Summary

Contract Negotiation: Review, interpret, draft, and negotiate complex Technology contracts with an emphasis on mitigating Oracle’s risk and ensuring compliance with legal guidelines and procurement policies.
Document Validation: Validate all aspects of contract documents and contracting structure for accuracy and compliance with Oracle’s business practices, policies, and required internal approvals.
Executive Approval Drafting: Draft executive approval requests for key legal clauses, including a summary of business issues and context.
Legal Issue Resolution: Partner with Procurement Legal and Privacy & Security Legal to resolve open legal issues in complex contracts.
Business Requirement Partnership: Partner with lines of business stakeholders to understand unique business requirements and fully capture them within contractual documents.
Process Optimization: Partner with lines of business stakeholders to identify opportunities to optimize current processes and documents to meet end users’ needs.
Contract Documentation Management: Prepare and maintain contract documentation, including status, reports, and contract records.
Process Improvement Contribution: Participate and contribute to process improvement initiatives to optimize the value of the Procurement Contracts Team.
Confirmation Preparation: Deliver accurate and timely confirmation preparation and/or review (with an emphasis on refined products and natural gas) of all transactions.
Counterparty Interaction: Interact daily with counterparty contacts and internal stakeholders to ensure accurate and timely confirmations for all transactions.
Grant Application Preparation: Prepare compelling grant applications and subsequent follow-up.
Grant Implementation Monitoring: Recommend and monitor procedures for grant implementation.
Policy Development Support: Support the development and recommendation of various policies and procedures upon request.
Standard Practice Clarification: Clarify and describe standard practices.
Form Design: Design or improve forms to expedite procedures and coordinate the publication and dissemination of information.

5. Contract Analyst Accountabilities

Contract Facilitation: Facilitate and prepare supplier/purchase contracts by reviewing and negotiating contract terms.
Stakeholder Communication: Communicate and obtain agreement of contract terms with internal business partners.
Contract Updates: Review and update existing contracts with updated terms.
Terms Articulation: Articulate terms and conditions to relevant stakeholders.
Compliance Assurance: Ensure that users of the contracts understand and comply with the terms outlined.
Risk Analysis: Analyze potential risks involved with contract terms and work with relevant teams to mitigate and communicate business risks.
Legal Collaboration: Work closely with the legal team to ensure that sign-off is obtained.
Error Detection: Detect errors and inconsistencies in contracts.
Stakeholder Collaboration: Work closely with stakeholders to identify supplier efficiencies and performance concerns.
Report Preparation: Prepare analytical reports, correspondence, and memoranda.
Analytical Support: Provide analytical support in various areas essential to department operations, such as special project coordination, facilities planning, budget management, or staffing analysis.
Issue Escalation: Liaise daily with various offices and escalate any issues to management that contradict the Risk Policy.
Contract Status Reporting: Generate and confirm Contract Status Reports daily for review by management.
Special Project Management: Assist with special projects upon request by management.

6. Contract Analyst Functions

Agreement Collaboration: Collaborate with SCM team members and other business units to prioritize the creation of agreements with suppliers and manage the amendment of existing agreements.
Process Improvement: Contribute to the continuous improvement of procurement and contracting processes aligning with PETRONAS Canada’s corporate strategy and values.
Supplier Communication: Communicate effectively with suppliers to achieve a quick turnaround on review and acceptance of agreements.
Vendor Exception Tracking: Track and communicate vendor exceptions to agreements and negotiate agreement terms and conditions in coordination with the Team Lead, Contracts.
Status Reporting: Report on the status of ongoing agreement creation and changes, seeking assistance to expedite completion when required.
KPI Reporting: Conduct various KPI reporting and continuous improvement activities associated with Master Agreements, OpenInvoice, and other P2P (Purchase-to-Pay) requirements.
Governance Support: Support and track assigned governance requirements and identify and complete transactional contracting efficiencies.
Training and Support: Provide training and support on OpenInvoice and contracting applications to internal and external stakeholders.
Contract Generation: Work within a small team of Analysts to generate, prepare, and review commodity contracts related to U.S. Power & Gas, Crude Oil, petroleum products, vessel freight, rolled steel, bunkers, gasoline, and blend stocks.
Trade Reconciliation: Reconcile trade details in various systems with broker confirms and counterparty contracts.
Contract Approval: Obtain approval and affirmation of all contracts.
Stakeholder Communication: Communicate with Schedulers, Traders, Legal, Credit, and Tax departments to verify contract details.
Risk Analysis: Analyze contract terms for any language that may place the company and shareholders at risk.
Template Management: Keep all templates updated and create new templates as additional business units are onboarded.
Policy Compliance: Ensure the terms of all contracts adhere to the corporate risk policy and business standards.

7. Contract Analyst Job Description

Contract Management: Maintain software and hardware contracts, leases, and licensing agreements with vendors by monitoring and prioritizing renewals and contract modifications.
End-of-Term Awareness: Maintain an awareness of end-of-term options and bring them to the attention of the appropriate Manager.
Vendor Communication: Contact vendors to obtain information.
Invoice Investigation: Investigate matters such as incorrect invoices and expiry dates of contracts.
Compliance Assurance: Ensure compliance with licensing terms and conditions and resolve or refer billing/invoicing issues.
Decision-Making Support: Obtain information from vendors to assist in decision-making throughout the life of the contract (inception to end of term).
Options Analysis: Analyze and compare options (e.g., equipment choices, pricing options, contract terms), compile information for review by the Manager outlining alternatives, and make recommendations.
Quote Requests: Request quotes from vendors on small-scale requests.
Lease Monitoring: Monitor leases by maintaining a database/spreadsheet to track lease renewal obligations and assist in budget forecasting of lease roll-overs.
Vendor Communication: Draft letters to vendors regarding end-of-lease notifications, expiry dates, and contract obligations.
Contract Reconciliation: Reconcile individual contracts by comparing actual invoices and expenditures to budgeted amounts.
Information Review: Review, extract, and interpret information to determine the reason for problems or discrepancies.
Corrective Action: Take corrective action, identify trends and/or problems, and refer them to a supervisor or designate.
Timekeeping Functions: Perform timekeeping duties by gathering hours worked from schedules, transferring data onto weekly timesheets, and submitting information to the timekeeper.
Discrepancy Resolution: Contact Payroll to resolve any discrepancies arising from reports or personnel inquiries.

8. Contract Analyst Overview

Contract Review: Review clinical trial agreements, contract amendments, confidentiality agreements, and non-disclosure agreements received from pharmaceutical sponsors or contract research organizations.
Stakeholder Communication: Communicate with clinics, physician groups, hospitals, and other patient treatment facilities represented.
Engagement: Engage in regular, professional contact with contracting parties to ensure understanding of all parties.
Issue Resolution: Ensure progress continues toward full resolution of unresolved issues.
Contract Management Coordination: Keep Budgets & Contracts management informed of contract issues, negotiation breakdowns, and contract timing, escalating matters that require higher-level involvement.
Budget Coordination: Coordinate with Budget Analysts to ensure that budgets are completed before scheduled contract execution.
Regulatory Compliance: Comply with all Sarah Cannon standard operating procedures, Good Clinical Practice, and regulations from the International Conference on Harmonisation.
Contract Development Leadership: Lead the contract development process with vendors, consultants, and subcontractors, and facilitate the negotiation process.
Document Management: Responsible for managing ProSciento’s legal documents and maintaining and improving ProSciento’s repository of contract templates.
Contract Negotiation: Negotiate improvements in contractual parameters in collaboration with BC leadership and external advisers.
Negotiation Parameters: Define and set negotiation parameters in the best interest of ProSciento.
Risk Assessment: Review, negotiate, and provide risk assessments for internal contracts at ProSciento.
Report Production: Produce a variety of regular and ad hoc reports/status updates utilizing spreadsheet software and/or database applications.
Information Summarization: Gather and check information, summarizing it into report form and recreating reports upon request for review.

9. Contract Analyst Details and Accountabilities

Document Review: Peer review department documents, including supplier, independent contractor, employee/billable workers agreements and amendments, to ensure correctness, completeness, and compliance.
Contracts Management: Provide a comprehensive contracts management solution for all RightSourcing clientele.
Quality Standards: Maintain best-in-class contract standards and provide the highest quality customer service for clients.
Contract Lifecycle Ownership: Require full ownership of the contract lifecycle.
Contract Negotiation: Negotiate and administer contracts between RightSourcing and staffing agencies or independent contractors.
Operational Standards: Maintain departmental and company operational performance standards, quality work products, and departmental initiatives.
Analytical Support: Provide analytical and operational support to all business partners within the RightSourcing team.
Template Management: Draft and update client-specific supplier and independent contractor agreement templates.
Amendment Drafting: Draft amendments to supplier, independent contractor, and employee/billable worker agreements.
Vendor Management: Responsible for background and drug testing vendor setup and other corporate contracts.
Policy Review: Review client policies and procedures.
Client Implementation: Lead new client implementations for complex or international clients and work collaboratively with Implementations.
Training Development: Develop and present company-wide training materials as directed by department management.
Contract Lifecycle Ownership: Require full ownership of the contract lifecycle with suppliers at numerous client accounts, directly working with external customers/clients.
Department Support: Provide ongoing support to the department/company, assisting with special projects, reporting, SOP updates, etc.
Contract Inquiry Handling: Handle complex supplier or independent contractor contract inquiries sent to contracts for review/direction.

10. Contract Analyst Tasks

Contract Review: Review and revise client contracts to mitigate overall risk.
Contract Types: Review contracts including Master/Professional Services Agreements, Work/Task Orders, Statements of Work, Master Subcontractor Agreements, Non-disclosure Agreements, Business Associate Agreements, and Data Processing/Protection Agreements.
Risk Advisory: Advise and interpret contract requirements, obligations, and risks for management.
Agreement Drafting: Draft new agreements with outside counsel assistance.
Documentation: Properly document contract review results in the contracts database to ensure accurate tracking.
Letter Processing: Process Letters of Commitment (LOCs) in a timely manner to ensure customers associated with Group Purchasing Organizations (GPOs) receive the correct pricing.
Revenue Review: Review revenue from key customers monthly to calculate and process payments for growth incentives and administrative fees.
Journal Entries: Calculate and book journal entries for accruals related to growth incentives and administrative fees.
KPI Reporting: Design tools and reports to calculate and analyze Key Performance Indicators (KPIs) related to contract and pricing performance.
Sales Reporting: Produce and deliver reports to the Sales Team on expiring, pending, and active contracts.
Pricing Agreement Creation: Create templated Pricing Agreements for the Sales Team to use for local customers.
Process Improvement: Design or improve processes and tools to facilitate accurate workflow management, contract price loading, KPI monitoring, data management, and record retention for the Contracts team.
Inquiry Response: Provide timely responses to internal and external inquiries.
Proposal Review: Review proposals for changes in contract terms.

Relevant Information

What Does A Contract Engineer Do?

What Does A Contract Administrator Do?

What Does A Contract Coordinator Do?

What Does A Contract Manager Do?