Principal Contract Development Specialist Full Time

Overview:

The Principal Contract Development Specialist is a professional responsible for managing and advising on all aspects of contract creation, negotiation, execution, and compliance. They ensure that contracts with vendors, suppliers, clients, and other stakeholders are legally sound, aligning with the organization’s goals and minimize risks.

Key Responsibilities:

• Draft, review, and negotiate contracts for goods, services, and other business transactions.
• Customize contract templates to fit specific business needs while ensuring compliance with company policies and legal requirements.
• Collaborate with relevant departments (e.g., procurement, finance, and legal) to ensure • contract terms align with business objectives.
• Act as the primary point of contact for all contract negotiations with clients, suppliers, and vendors.
• Lead discussions to ensure favorable terms and conditions for the organization, balancing • legal requirements with operational needs.
• Provide recommendations on the potential risks and benefits associated with contract terms.
• Advise stakeholders on risk mitigation strategies and recommend changes to contract clauses to protect the organization.
• Ensure compliance with relevant laws and regulations (e.g., data protection, labor laws, etc.) in all contracts.
• Oversee the full lifecycle of contracts, from creation to execution and renewal.
• Monitor contract performance to ensure compliance with terms, deadlines, and deliverables.
• Stay up to date with applicable laws, regulations, and industry standards that affect contracts.
• Ensure all contracts are legally binding and comply with organizational policies, as well as local, state, and federal laws.
• Advise management on changes to regulations or legal requirements that may impact existing or future contracts.
• Address and resolve issues related to contract disputes or breaches, working with legal teams when necessary.
• Provide guidance to stakeholders on potential remedies, including renegotiations, terminations, or litigation.
• Prepare and maintain regular reports on contract status, compliance, renewals, and potential risks for senior management.

Qualifications:

Education:

• Bachelor’s degree in Law, supply chain management, Business Administration, or related • field.
• A law degree or professional legal certification is a significant advantage.

Experience:

• 6–10 years of experience in contract management, legal advisory, or a similar field.
• Previous experience in a specific industry (e.g., Services, IT, procurement) may be preferred.

Skills & Competencies:

• Strong knowledge of contract law, regulatory requirements, and legal terminology.
• Excellent negotiation, communication, and interpersonal skills.
• Detail-oriented with the ability to assess risks and ensure contract compliance.
• Strong organizational skills and the ability to manage multiple contracts simultaneously.
• Proficiency in contract management software, Microsoft Office, and other relevant tools.