Contract Analyst

Overview

This position is responsible for supporting the Bank and its internal stakeholders by managing the execution, renewal and/or termination of existing contracts, and for reviewing new contracts prior to execution for an assigned group, ensuring contracts are handled according to business needs. This position analyzes contracts and recommends contract provisions and amendments that align with the Banks goals and objectives. This position is expected to deliver outstanding client service while building collaborative relationships with the business team by providing innovative, timely, and accurate solutions aligned to the Bank's risk appetite.


Responsibilities & Qualifications

Duties & Responsibilities:
Contract Management - Manages queue of contracts coming up for renewal/expiration. Reviews and interprets contract clauses, stipulations, obligations, and liabilities, and works with the business owners to determine and complete actions required prior to the deadline. Makes recommendations to contract provisions, terms, and conditions.
Business Support - Develops and maintains an understanding of existing vendors, contracts, and business needs. Reviews and interprets contract language and advises internal departments on cost-effective ways to comply with contractual obligations while meeting business requirements. Documents progress and maintains records. Keeps current on amendments to contract laws and makes recommendations on needed changes.
Relationships - Collaborates with the appropriate department staff on new products and services to address any contractual discrepancies with the Bank's Vendor Contract Standards and general Procurement policies.
Conduct RFx's - Develops and leads any RFx's (RFI, RFP, RFQ, etc.) for a designated area. Serves as single point of contact for vendors and manages RFx from inception to vendor selection and contract negotiations.
Contract Negotiations - Works with senior staff, leading negotiations for less complex contracts (MNDAs) and amendments to ensure necessary language is included and that contracts adhere to the Bank's Vendor Contract Standards and general Procurement policies. May participate in negotiating new contracts as assigned.

Position Specific Skills:
Industry Knowledge- procurement regulations, contract documents, and legal specifications
Customer Service- Ability to resolve complaints and concerns
Business Acumen- Knowledge of local, state, and national contract laws
Contract Structuring - Ability to create contract documents from templates, negotiate redlines, and coordinate signatures

Qualifications:

Bachelor's Degree and 2 years of experience in Contract structuring for services, software, outsourcing services OR High School Diploma or GED and 6 years of experience in Contract structuring for services, software, outsourcing services

Additional Requirements:

• Experience with Requests for Proposal (RFPs) and Requests for Quotations (RFQs)
• Contract Lifecycle Management (CLM) experience
• Procure-to-Pay (P2P) experience

Preferred:

• Experience with Icertis contract management system
• Experience with Coupa procurement platform
• Experience with Archer governance, risk, and compliance (GRC) platform

Additional Information

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at

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