Contract Administration Specialist

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Date: Jan 6, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

This newly created position is part of the Contract Services Group in New York Life’s Procurement Organization.  The primary purpose of this position is the administration and management of New York Life’s contract repository (SAP Ariba) which includes such diverse tasks as maintenance of day-to-day contract inventory, system related oversight, post-execution contract support and frequent interaction with company stakeholders pertaining to contract related issues and questions.  The individual in this position is expected to have strong legal acumen and have deep understanding of the contract lifecycle process.

 

Role and Responsibilities:

  • Serve as a subject matter expert and process owner in the management of the contracts database, including data tracking and entry
  • Act as a point of escalation for procurement team members and company stakeholders for contract database related matters and questions
  • Assist with maintaining, developing, implementing, and continuously improving processes and procedures for consistent, compliant, and efficient contracting processes and operations within Procurement
  • Draft, negotiate and manage certain commercial contracts including, but not limited to, Non-Disclosure Agreements, Amendments, and Statements of Work
  • Assist with design, build out, and maintenance of contract management system and associated contract databases; including the migration of contracting and sourcing activities from SharePoint to Ariba
  • Collaborate with sourcing managers, business partners, and external suppliers for successful completion of contracting projects
  • Partner with the Third Party Management and Third Party Risk teams to further enhance vendor inventory data quality that originates within Ariba Sourcing and Contracts and run analytics on the data to ensure accuracy
  • Partner with vendor management groups as needed with respect to the tracking of contract service levels, terminations, vendor-related changes, and similar contract activity
  • Initiate, track and monitor contract changes, deliverables, correspondence and risks, and maintain associated documentation as needed

 

Required Skills

  • Experience with increasing levels of responsibility in all aspects of the contracting process as paralegal, attorney or contract manager
  • Strong organizational skills and attention to detail
  • Ability review and analyze contracts quickly and accurately with extensive working knowledge of commercial legal principles and terms
  • Practical business judgment and problem-solving skills
  • Knowledge of strategic sourcing practices and contracting compliance objectives and best-practices
  • Ability to multitask and work under pressure to meet specific deadlines while staying aligned with multiple stakeholders
  • Excellent, clear, concise and timely communication skills (both verbal and written)
  • Financial services company experience preferred

 

Additional Qualifications

  • Undergraduate degree required, paralegal or similar professional degree preferred
  • A minimum of 5+ years of relevant contract administration experience in a procurement group, in-house legal department or law firm.
  • Experience with purchasing systems, contract management systems and organizational interfaces (including e-procurement, Ariba, SAP and e-RFP tools)
  • Proficiency in Microsoft applications: Excel, Word, PowerPoint, SharePoint

 

#LI –MM1

EOE M/F/D/V

 

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Job Requisition ID: 83092 


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