What does a Contract Manager do?
Contract Managers oversee the contract creation and negotiation process from start to finish. They’ll write, review, negotiate and execute a variety of contracts between customers, vendors or their employees to ensure they’re compliant with laws and company policies.
Before writing, reviewing, or approving contracts, the Contract Manager will conduct extensive research to ensure the contract’s language is compliant and to detect any potential risks the company could face if they sign the contract. Contract Managers regularly check on current contracts to ensure the company and customer are remaining compliant and following the terms listed in their contract.
Contract Manager skills and qualifications
Given their work scope, a Contract Manager needs to be well-informed on industry trends and all aspects of the contracting process. They should also possess impressive negotiation and judgement abilities to determine if certain contracts are well-suited to the company’s needs and objectives. Common skills and qualifications successful Contract Managers should have include:
- Excellent written and verbal communication skills
- Exceptional attention to detail
- Interpersonal and listening skills
- Deep understanding of contracts, contractual language, and contract governance
- Critical thinking skills, research abilities, and ongoing legal knowledge
- Ability to professionally manage and store confidential information
- Excellent understanding of business operations and financial analytics
Contract Manager work experience
Contract Managers typically have at least two years experience managing or negotiating business contracts. Impressive candidates may also have at least two years experience writing and negotiating certain resale agreements with vendors. Contract Managers who previously served as Contract Specialists may also be considered for the role.
Contract Manager education and training requirements
Most candidates have a Bachelor of Business Administration, while others may have a Master of Business Administration degree instead. Depending on where they work, some Contract Managers are expected to earn a certification, like a Certified Commercial Contracts Manager or Certified Professional Contracts Manager designation, offered by the National Contract Management Association. If specific contract management software solutions need to be used, candidates may require training on these programs during onboarding.
Contract Manager salary expectations
According to Indeed Salaries, the average salary for a Contract Manager in Canada is $84,613 per year. This is not a fixed figure, and it typically varies depending on the company, geographical location, and the employee’s level of experience.
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