Finance > Contract Administrator
Contract Administrator
Remote
Contract Administrators handle all contracts for a company to ensure employees and executives understand the terms they agree to. They work with leadership and the human resources department to establish the company’s goals and ensure each contract meets these objectives and conforms to legislative requirements. Contract Administrators aim to reduce costs and increase profits while complying with the law, so they work to ensure each contract follows those standards. They also stay updated on any legislative changes to make sure all contracts are compliant.
A Contract Administrator, or Contract Specialist, manages and reviews business contracts for financial agreements like company purchases, rental agreements, new hire contracts and business proposals. Their duties include negotiating contract terms and conditions with each party, analyzing potential risks involved with certain contract agreements and helping employees and leadership better understand the information outlined in the contracts.
A Contract Administrator should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Contract Administrator should be able to execute:
- Take sufficient steps to minimize project risks
- Liaise with and support the Project Manager to ensure the project is executed safely and properly
- Ensure compliance with the company’s work health and safety policies, standards and procedures
- Prepare monthly project reports and make presentations at meetings
- Support negotiations of claims, manage contractual changes and resolve disputes or conflict resolution with Contractors
- Ensure project members use the contract correctly
A competitive Contract Administrator will have certain skills and qualifications, including:
- Fundamental knowledge of construction techniques, building materials, standards and equipment
- Ability to read, analyze and interpret legal documents, financial reports and technical documents
- Ability to apply arithmetic concepts such as fractions, ratios and proportions to real scenarios
- Basic understanding of purchasing and supply chain procedures
- Proficiency in common office applications
- Good understanding of standard operating procedures (SOPs) and occupational, safety and environmental regulations and law
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