You may also include soft skills and personality traits that you envision for a successful hire. Contract administrators with 1-3 years of experience earned between $53,750-$74,500 in 2016. Contract Administration, 12.3% Procedures, 6.1% Top Senior Contract Administrator/Contract Administrator Skills. The Robert Half 2017 Salary Guide revealed the contract administrator profession to be one of the “Hot Positions,” slated for growth and salary increases in the coming years. Whether it is a sales-side contract or a service/procurement side contract, a good contract management practice is to ensure that things start off on the right foot. Does the solution provide easy access to contact agreements? Failure to include all of the requirements in the specifications can lead to a failure in the Contract Administration process. Contract Administrator jobs. Administrative skills are those related to running a business or keeping an office organized, and are needed for a variety of jobs, ranging from office assistants to secretaries to office managers. Home » Blog » The 5 Skills Needed to Manage Contracts For Your Organization. Preparing contract documents for execution. Administrators commonly specialize in a particular area of the profession such as government contracts, commercial contracts, logistics and related functions. Additional contract management skills are required for specialized areas of knowledge that exceed the competencies in pre-award, acquisition planning and strategy, and post-award. Here is a list of the top five qualities for a solid contract management team and successful operation: Observant. We use cookies to make sure you have the best possible experience on our site. Experienced administrators have negotiation responsibilities requiring savvy strategies. She holds a bachelor's degree from Central Michigan University. Obviously, for the purposes of this blog, we’ll focus on the “manage” portion. Does it allow pulling out key contract terms and clauses quickly? Here's how Purchase Orders is used in Contracts Administrator … The professional skills necessary for contract managers to have include: Efficient and effective performance in a specific industry or work environment Productively interacting with other specialized professionals. Skills highlighted on Contract Administrator resumes include partnering with financial area managers in business development efforts, and introducing value-added services to existing and potential customers. To learn more about the pre-award stage, view these educational events. They must be equipped with an understanding of the marketplace in which their organization operates and also know how to utilize technology to meet their goals. As a result, there are certain soft skills that members of the contract management team simply must possess to ensure success. All successful contract managers must have a solid understanding of the various aspects of business. Reviewing contracts means spending time understanding special provisions, requirements and conditions to make sure they comply with legislation and follow the appropriate procedures. Successful candidates must excel in this area. Problem solving is important. Administrators negotiate with tact and diplomacy, but stand their ground on key points. As a result, there are certain soft skills that members of the contract management team simply must possess to ensure success. Jan Simon is a career and life coach with more than 20 years of experience in corporate human resources. Skills and Traits Needed to Be Successful. Communicate/liaise with the Contract Administrators based in the London office to handle the administrative tasks/processes in connection with the sending of the execution version of the license agreements, i.e. Managing change is also high on the list of job responsibilities. Perform extremely well as an individual or in a group environment, excellent management skills. Fortunately, this fact has been realized by the industry and is hence the key driver to adoption of such solutions. Seeking instructions from the client in relation to the contract . Productively interacting with other specialized professionals. Find out how our CLM solution can help. Problem solving is i… Administrators must analyze corporate policies and laws that pertain to specific contracts. The professional skills necessary for contract managers to have include: Efficient and effective performance in a specific industry or work environment The authors, María Arraiza-Monteux and René Franz Henschel, outline the skills needed along the gamut of contract work, from initiation, bid, development, negotiation and finally to management. Indeed may be compensated by these employers, helping keep Indeed free for jobseekers. Stand-out contract managers tap into their interpersonal skills every day for smooth contract delivery and to inspire innovative goods and services from suppliers. Administrating change control procedures . Most are stored as hard copies in various places, filed away by the legal department, kept in a desk drawer by the contract manager or sent away to the stakeholder. The 5 Skills Needed to Manage Contracts For Your Organization, Copyright © 2020 Apttus Corporation, All Rights Reserved, Click Here to download the Ultimate Guide to Contract Management, How Brexit Affects Your Contracts: Top 3 Contract Management Must-Do's, Increasing the Integrity of Your Contract Repository, Contract Development Best Practices with Contract Templates & Playbooks, Efficient and effective performance in a specific industry or work environment. This is a heavily important phase as it reviews the fundamental aspects of contract management, hence being labeled in the “pre-award” category. A contract administrator ensures all parties to an agreement are fulfilling their obligations. Administrators must analyze corporate policies and laws that pertain to specific contracts. Candidates interested in a Contract Administrator position should the following skills and qualifications: Fundamental knowledge of construction techniques, building materials, standards and equipment Ability to read, analyze and interpret legal documents, financial reports and technical documents One of the most crucial functions of contract administration involves communication. The role of a contract administrator (CA) is broad, but the most basic definition is managing the contract between the employer and the building contractor. What skills does a Contract Administrator need? Knowledge and understanding of the legal requirements involved in specific contracts. Experience working with and managing contracts. The last competency is business. The second competency is acquisition planning and strategy. Relative considerations to keep in mind and decisions to be cognizant of are reviewed in this category in order to form a successful contract. Whether it is a sales-side contract or a service/procurement side contract, a good contract management practice is to ensure that things start off on the right foot. Contract Administrator Job Summary We are seeking an experienced Contract Administrator to oversee the creation and completion of our vendor contracts. Oftentimes these professionals are called upon to communicate policy. Page 1 of 2,567 jobs. He or she makes sure that all performance obligations specified in the contract are being met. Proficient Contracts Administrator with 10 years automotive industry experience. You will be responsible for drafting contracts, examining and verifying data once the contracts are returned, and processing the contract to ensure it is filed properly in our system. Analytical and problem-solving skills: The Contract Administrator is the foundation of every project, as the contract is the base upon which all work is built. A contract administratorresume should emphasize your ability to meet the complex demands of contract negotiationwhile maintaining a simple, elegant and commanding format. These team-playing abilities and management tendencies will serve them well when it comes time to make reports, negotiate between parties and departments and complete the overseeing of contract execution. Administrators must be pro-active. Contract Administrator Job Description Contract administrators, also known as contract managers, are responsible for managing various company contracts on behalf of their employer. Keeping abreast of new regulations impacting the contract function is also a part of the job. The contract administrator's role will generally include: Inviting and processing tenders . We are seeking an experienced Contract Administrator to oversee the creation and completion of our vendor contracts. Knowing how to resolve issues between team members and other key personnel is part of being a respected leader. Stand-out contract managers tap into their interpersonal skills every day for smooth contract delivery and to inspire innovative goods and services from suppliers. A Contract Administrator needs to be able to work well under pressure and … We ranked the top skills based on the percentage of Senior Contract Administrator/Contract Administrator resumes they appeared on. Modern cloud based SaaS providers offer a suite of Contract Management Solutions, which use cutting-edge technology platforms to build their solutions. You will be responsible for drafting contracts, examining and verifying data once the contracts are returned, and processing the contract to ensure it is filed properly in our system. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. The contract process involves individuals with different styles and personalities. Want to learn more about specialized knowledge areas? That’s difficult especially because the domain is fuzzy that the differences are not all that apparent. Administrators must be astute in business practices, have a grasp of financial issues and practice sound judgment. Administrators often become the nexus for disseminating key contract information to many departments or branches. You should also analyze contracts with an eye toward reducing costs and increasing profits, while ensuring compliance with the law. As a business discipline in its own right, it can prove to be a boon or a bane, depending on how it’s managed. This covers the early stages of the acquisition cycle from planning to protest. Employers hire candidates who are detailed oriented and possess highly developed skills. That means contract management administrators should establish a review protocol that ensures reviews happen well before or near mid-way points of contracts. Additional contract management skills are required for specialized areas of knowledge that exceed the competencies in pre-award, acquisition planning and strategy, and post-award. That means contract management administrators should establish a review protocol that ensures reviews happen well before or near mid-way points of contracts. Focus mainly on the hard skills needed to excel as a contract administrator, such as resource management, knowledge of regulations, and software proficiencies. Contract professionals have a wide scope of individuals to communicate with on a routine basis. Below we've compiled a list of the most important skills for a Contracts Administrator. This section discusses a few key elements essential to effective contract administration. Here is a list of the top five qualities for a solid contract management team and successful operation: Observant. Expand your knowledge for acquisition planning & strategy by attending one of these events. Once a contract is awarded, the work isn’t over. Keeping abreast of new regulations impacting the contract function is also a part of the job. A fact well known is that not even one of the contract terms carries any weight unless it is monitored and enforced. Presentation skills are also important in performing this function. After the contract award, the focus then shifts on contract performance which entail tasks that are referred to as “contract administration.” The range of contract administration activities will vary depending on your organization and use case, as well as the type of contract, how complicated the requirement(s) is, dollar value, and overall importance of the contract. Are you prepared for the LIBOR transition? Does it help track important contract dates, such as, expiration dates, auto-renewal dates, performance reviews and contract end dates. Unfortunately this occupation is not on the Long Term Skill Shortage List. The contract administrator needs to have both proven leadership skills but also be able to be a solid team player. Strong ability to lead a team environment, train, and direct personnel, and manage administrative tasks necessary for the seamless daily operation to thrive. The pre-award competency is influential throughout the contract management lifecycle and influence decision making. Here are a few differentiators for contract management software that would help make that decision. Next, outline the required and preferred skills for your position. Proven record of contract management and settlements upwards of $450M. Administrators must have strong team-building skills. The National Contract Management Association (NCMA) defines five “competencies” called The Contract Management Body of Knowledge (CMBOK) which outlines the critical terms, skills, and the required knowledge to manage contracts within an organization. The CMBOK enlists the following competencies: The first stage of contract management competencies is the pre-award stage, which touches on the different areas that impact contract management. Contract Administrator Job Summary. Contract Administrator is not on the following lists: Long term skill shortage list. View these events. Supervising and managing work (and variations to work orders) undertaken by contractors. A range of five to seven skills is sufficient to express your best characteristics as an employee without making your CV too redundant. Invoicing, Database, and Contract Management represent a very decent share of skills found on resumes for Contract Administrator with 29.07% of the total. Administrators must be astute in business practices, have a grasp of financial issues and practice sound judgment. Look over these relative events. To be a successful and effective contract administrator, you'll need to posses a certain set of skills and personality traits. 3+ years prior experience in a contract administration role or a related field ; Exemplifies knowledge of contract law, accounting principles and finance; Has strong negotiation and mediation skills Contract Administrator qualifications and skills. Competencies in post-award contract administration are essential to successful performance. Below we've compiled a list of the most important skills for a Senior Contract Administrator/Contract Administrator. Contract administrators placed in a supervisory role spend time mentoring and training subordinates. Indeed ranks Job Ads based on a combination of employer bids and relevance, such as your search terms and other activity on Indeed. Using the Skills. Displayed here are job ads that match your query. Tracking changes and monitoring the contracts in different phases is one of the core duties assumed by contract administrators. Administrators are responsible for drafting documents, preparing proposals and coordinating with all parties involved in the contractual agreement. For example, 12.3% of Senior Contract Administrator/Contract Administrator resumes contained Contract Administration as a skill. Contract administrators are employed in a variety of industries. Employees in nearly every industry and company need strong administrative skills . Included in this competency are eight topics that should be understood in order to have the foundation of contract management before any processes begin. There are numerous significant and important activities that will ultimately effect the overall success of the contract. The Role of a Contract Administrator. Photo Credit: Helico via Compfight cc This makes administrators a kind of jack-of-all trades; they may create end-date alerts for one department while another may only care that contract changes are recorded properly. Contracts can be very complex. Summary : Over 12 years of experience as a Contract Administrator. The contract administration role is undertaken during the construction and delivery phase of a construction or building project. Staying organized and in control of the numerous details takes focus. Working with cross-functional teams requires leadership capability. She also publishes a weekly blog called Life on the Sunny Side. Top Contracts Administrator Skills. Negotiating contracts is a complex job involving many factors, especially when contracts must include more complicated structures. Contract compliance is a large part of the administrator's job. Obtaining a bachelors degree in contract administration is a viable way to begin a career in this profession. Bureau of Labor Statistics: Administrative Services. Let's find out what skills a Senior Contract Administrator/Contract Administrator actually needs in order to be successful in the workplace. This requires direct communication and a sense of fairness and equitability. Simon enjoys writing career articles and is a columnist for the CV Weekly. Learn more about post-award competencies by attending one of these events. high Demand. A successful Contract Administrator will demonstrate a strong attention to detail along with the ability to discover potential risks for our company. Find out more. Individuals with finely tuned analytical skills are quick to come up with solutions and recommendations. Sort by: relevance - date. Looking to improve your business knowledge? Key areas of the job include negotiating, reviewing documents and administrative accountability. Despite this, what usually happens with contracts once they are signed and activated? 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