What are the responsibilities and job description for the Contract Analyst position at Omtech llc?
Note :
Open for C2C,W2 (USC, GC)
Candidate must be local to NJ.
Role3 : Contract Analyst
Location : Hybrid in Newark - NJ
Duration : 6 months Contract to hire
Job Description :
The Contract Analyst will be responsible for supporting the management and administration of contracts related to a large-scale program. This role will involve reviewing, analyzing, and negotiating contract terms and conditions, ensuring compliance with legal requirements, and mitigating risks associated with contract execution. The ideal candidate will work closely with project managers, legal teams, and vendors to ensure the program's contractual obligations are met efficiently and effectively.
Job Responsibilities :
Procurement Strategy & Planning :
Develop and execute procurement strategies for IT products, services, and solutions to meet the needs of the program.
Work with program management and cross-functional teams to understand requirements, timelines, and budget constraints.
Develop procurement plans, including risk assessments, supplier evaluations, and procurement schedules.
Supplier Selection & Management :
Source, evaluate, and select suppliers based on cost, quality, capacity, reliability, and alignment with program objectives.
Establish and maintain strong relationships with key suppliers, ensuring their ability to meet program requirements and timelines.
Negotiate favorable terms and conditions, including pricing, delivery schedules, and service level agreements (SLAs).
Contract Management :
Lead the preparation, negotiation, and execution of contracts, ensuring compliance with legal, regulatory, and organizational standards.
Work closely with legal and finance teams to review contracts and ensure alignment with program needs and budget.
Manage contract amendments, renewals, and disputes, ensuring compliance with agreed-upon terms.
Procurement Execution :
Oversee the procurement lifecycle, from requisition through to delivery and payment.
Manage the issuance of requests for proposals (RFPs), requests for quotations (RFQs), and other procurement documents.
Ensure that the procurement process is timely, transparent, and adheres to best practices and internal policies.
Budget & Cost Control :
Work closely with the finance team to ensure procurement activities stay within the program's budget.
Monitor and track procurement spending, identify cost-saving opportunities, and drive cost efficiencies.
Ensure procurement activities are aligned with the overall financial goals of the program.
Risk Management & Compliance :
Assess and mitigate procurement-related risks, including supplier performance, delivery delays, and cost fluctuations.
Ensure compliance with all relevant regulations, organizational policies, and ethical standards.
Maintain up-to-date knowledge of procurement regulations, best practices, and industry trends.
Reporting & Stakeholder Communication :
Prepare regular reports on procurement activities, including vendor performance, spend analysis, and cost savings.
Provide updates and communicate procurement progress to key stakeholders, including program managers, executives, and other team members.
Act as the primary point of contact for any procurement-related issues and ensure smooth communication across departments.
Continuous Improvement :
Continuously evaluate and improve procurement processes to enhance efficiency, reduce costs, and increase value for the organization.
Implement process improvements to ensure that procurement practices support the agile nature of the IT program.
Qualifications :
Bachelor's degree in Business, Supply Chain Management, Information Technology, or a related field.
5 years of experience in procurement, with a focus on IT procurement in large-scale programs or projects.
Proven experience in negotiating IT contracts, managing vendor relationships, and leading cross-functional teams.
Familiarity with IT procurement processes, software licensing, hardware procurement, and IT service management contracts.
Strong negotiation and contract management skills, with the ability to secure favorable terms.
Excellent communication skills, both written and verbal, with the ability to engage stakeholders at all levels.
In-depth understanding of procurement best practices, cost control, and risk management.
Proficient in procurement and project management tools (e.g., SAP, Oracle, MS Office, etc.).
Strong organizational skills and the ability to manage multiple procurement projects simultaneously.
Negotiation Skills : Strong ability to negotiate favorable terms and ensure that both parties meet their commitments.
Attention to Detail : Ability to review contracts, specifications, and procurement processes meticulously.
Stakeholder Management : Ability to communicate effectively with stakeholders across all levels, managing expectations and resolving issues.
Problem-Solving : Proactively identify and resolve procurement-related challenges, such as supply chain issues, delays, or contractual disputes.
Leadership : Ability to lead and mentor procurement staff and collaborate across departments to ensure program success.
Preferred Qualifications :
Certified Professional in Supply Management (CPSM), Certified Purchasing Manager (CPM), or other relevant procurement certifications.
Project Management Professional (PMP) or related certifications (for IT project experience)
