Contracts Manager

Contract Managers oversee the formulation and enforcement of Legal contracts while evaluating existing systems to ensure that they are up to date. They also negotiate contract terms with clients, suppliers and partners.

Contracts Manager Job Description

Write and refine contracts or related paperwork for organisational processes.

Oversee the expansion of contract-generating software.

Establish and enforce guidelines for contract management.

Ensure existing systems align with regulative guidelines and maintain efficacy.

Analyse the effect of community developments on organisational decisions.

Conduct comprehensive contract risk analyses to identify potential Legal, Financial and Operational risks.

Manage the process of contract renewal, renegotiation and termination.

Address and resolve any disputes or misunderstandings that arise concerning contracts.

Regularly review and monitor compliance with all contractual obligations and ensure that all parties adhere to the terms.

Note

Contract managers work in a variety of industries, including Banking or even Entertainment! Regardless of the industry, contracts are integral to agreements and transactions. In your career, you will have the chance to encounter contracts of various natures!

What you should know about Contracts Manager jobs in Singapore

Nature of Work

You serve as the middleman between organisations and external parties, requiring both Legal and excellent people skills for diverse interactions.

Key Advice

Besides Legal knowledge, you must also have in-depth knowledge of the business is crucial to managing contracts and their terms well!

Entry Requirements

Entry Requirements
Minimally a diploma in Legal studies, Business Administration, or a related field that provides a solid understanding of Legal concepts, business principles and contract law.

Experience in contract management, Legal affairs or a related area, demonstrating a track record of negotiating, drafting and managing contracts effectively.

Familiarity with contract management software and systems and general office software to efficiently manage and store contract documentation.
Possible Pathway

Possible Pathway

Skills you need to pursue a Contracts Manager career in Singapore

Hard Skills

Knowledge of Local Legal System

Understands the local Legal regulations & standards affecting contracts efficiently.

Documentation Skills

Capable of accurately creating, managing and organising contracts and related documents.

Computer Proficiency

Proficient in contract management software and common office applications to streamline processes.

Soft Skills

Transdisciplinary Thinking

Applies knowledge from different disciplines to solve complex contract-related issues creatively.

Decision Making

Makes informed, timely decisions considering Legal, Financial and Operational impacts.

Communication

Communicates effectively with all stakeholders to negotiate terms and clarify contract details.

Frequently asked questions (FAQs)

What's the difference between Contracts Managers and Contracts Administrators?

Though similar, they do have their differences. Contracts Administrators are responsible for drafting and negotiating contractual terms. Contracts Managers, on the other hand, ensure organisations abide by agreed contracts.
Do Contracts Managers only work with contracts every day?

After finalising contracts, Contracts Managers are required to plan policies and guidelines. This is an important part of their job scope to prevent breaching of contractual terms. Contracts Managers must be meticulous and attentive to details! Even a minor breach can lead to major losses for the company.
What are the typical challenges faced by Contracts Managers in their role?

Some challenges include managing changes in the project scope and ensuring that contract terms are adjusted accordingly to reflect any modifications for all parties and with the changing legal landscapes while considering the impact on timelines and costs.

They must also balance resource allocation, including personnel and technology to manage multiple contracts and meet objectives.
What software or tools are commonly used by Contracts Managers in their work?

Tools like DocuSign, Adobe Sign, and HelloSign are commonly used for electronic signatures and document approvals, expediting the signing process and reducing paperwork.

As for platforms, they use SharePoint, Google Drive, or Dropbox for organising and sharing contract-related documents, ensuring version control and accessibility.
What career progression opportunities are available for Contracts Managers?

Contracts Managers can advance to become Senior Contracts Managers, Contracts Directors or Heads of Contracts, Legal and Compliance Roles and lastly Project Managers.