Procurement Specialist

Job DescriptionJob Description

Fantastic fortune 500 company looking for a procurement specialist with contracts experience!

Position Overview: The Procurement Contracts Specialist is responsible for managing and overseeing the procurement and contractual processes within the organization. This role ensures that all procurement activities align with legal, regulatory, and organizational standards while minimizing risks and optimizing cost-efficiency. The individual will work closely with internal teams, suppliers, and legal departments to create, review, and manage contracts related to goods and services procurement.

Key Responsibilities:

1. Contract Management:
   • Draft, review, and negotiate contracts for goods and services in line with procurement policies.
   • Ensure contracts are in compliance with legal requirements, organizational standards, and best practices.
   • Maintain an up-to-date repository of procurement contracts, ensuring they are accessible and easily retrievable.
   • Manage the execution and tracking of contracts from initiation to close-out.
   • Monitor contract performance to ensure compliance with terms and conditions.
2. Procurement Support:
   • Collaborate with procurement teams to define requirements and specifications for contract terms.
   • Assist in the preparation of bid documents, requests for proposals (RFPs), and supplier evaluations.
   • Evaluate and mitigate contract-related risks, including potential legal issues, penalties, or delays.
   • Provide guidance on procurement policies and procedures, ensuring contracts are structured appropriately.
3. Vendor and Supplier Relationships:
   • Serve as a point of contact for vendors and suppliers regarding contract terms and conditions.
   • Work with suppliers to resolve contract-related disputes or performance issues.
   • Negotiate terms and conditions with suppliers, ensuring favorable terms for the organization.
4. Compliance and Risk Management:
   • Ensure that procurement contracts comply with applicable laws, regulations, and industry standards.
   • Conduct risk assessments and recommend changes to mitigate procurement-related risks.
   • Collaborate with the legal department to resolve any legal disputes or issues arising from contracts.
5. Reporting and Documentation:
   • Prepare regular reports on contract status, upcoming renewals, and key milestones.
   • Document all contract negotiations, amendments, and approvals for audit and compliance purposes.
   • Provide feedback and recommendations for continuous improvement in procurement practices.

Qualifications:

• Bachelor’s degree in Business Administration, Supply Chain Management, Law, or a related field.
• Proven experience in procurement contract management, with a strong understanding of contract law and procurement processes.
• Familiarity with procurement software and tools.
• Excellent negotiation, communication, and interpersonal skills.
• Strong attention to detail and organizational skills.
• Ability to work independently and manage multiple contracts simultaneously.
• Certification in procurement (e.g., CPSM, CIPS) is a plus.

Key Competencies:

• Contract negotiation and drafting
• Supplier relationship management
• Legal compliance and risk management
• Problem-solving and decision-making
• Project management and organizational skills