Advance your potential – and reach your goals

This role works cross functionally with the Contract Executive, the Finance Manager, and the Lines of Business leads, and the Vendor Equivalents to assure that the contract is being correctly executed. This includes balancing the Vendor’s behaviors to help ensure the delivery of services as defined in the contract.  When the engagement is large or involves many contracts, the Contract Manager may supervise one or more Contract Administrators (or other support staff including document librarian, financial support).

The Lead Contract Manager must have a deep grasp of the contract structure and terms and the relationship of the services to the business operations they support.   Importantly, this includes an understanding of the contractual subtleties and leverage points that help ensure the realization of the business case value.   This calls for a closer working relationship between the organization supported by the vendor contract and business operations team than is provided by Central Sourcing, legal or other sourcing related functions.

The Contract Manger is accountable for managing all aspects of the Firm’s contractual agreement(s) with the Vendor on behalf of the Firm and the business units of the Firm. The Contract Manager works in close collaboration with Legal, the Central Sourcing Team, Service Management, Service Delivery and Finance to maintain a thorough knowledge of all aspects of the contract, modify the contract as needed, educate the Firm’s leadership on the obligations of both Parties (Firm and Vendor) within the overall agreement, report on the status of these obligations, manage issues related to the contract, and assist in interpreting the contract as needed.   The Contract Manger supervises Contract Administrators, and has primary responsibility for negotiating amendments to the Contract.  In cases where contract terms are in dispute between the parties this role is the subject matter expert advocate for the Firm.  

The Contract Manager needs to have a finger on the pulse of the contract and performance to be most effective.

Is the contract Subject Matter Expert

• Knows and understands the contract in detail
• Provides contract training before Service Commencement Date and educates the team periodically to ensure that the entire team understands the contract terms and deliverables
• Facilitate timely problem resolution of contractual issues to minimize impact on the Firm
• Answers contract questions and maintain an FAQ log
• Interprets the contract and initiates resulting consequences
• Ensures that improper precedents are not implemented that would put the Business Case value at risk

Manage overall compliance with contractual terms & conditions:

• Develop tools to support the Service Delivery  and Post-Contract Governance teams, specifically the Deliverables and Obligations trackers, and refresh these as the contracts evolves over time.
• Develop a Deliverables & Obligations Tracker, establishes a process for D&O tracking, assigns D&O responsibilities and manages the Firm and Vendor compliance with obligations on an ongoing basis
• Monitor and maintain the Vendor and Firms compliance with contract terms and conditions, commitments and notifications.  

Position Responsibilities

• Ensures that all terms and conditions of the agreement are satisfied, contractual constructs are fit for purpose and mitigate any risk exposures, works with the Vendor to progress the goals and objectives of the set of agreements.
• Provides a structured process, rules of engagement and end-to-end support for contractual issue/dispute resolution
• Resolves escalated issues in accordance with the post-contract governance escalation procedures.
• Manages the end-to-end Supplier Audit process, ensures that appropriate audit controls are in place for Vendor’s processes and invoices, in accordance with the established by the Firm’s Risk and Control Policies.
• Potentially manages Vendor exit.
• Considers and balances multiple Lines of Business inputs to ensure that appropriate management of the overall contract is implemented.

Guards the commercial relationship with the Vendor

• Guards and owns the integrity of the pricing schedules and mechanisms and ensures they are fit for purpose
• Evaluates Performance and approves and action plans resulting from critical service performance failures.
• Manages and re-pricing making use of existing contractual mechanisms for cost/price changes
• Ensure any scope change or extension is commercially optimized using contractual mechanisms
• Verifies proposals and RFX responses against contractual terms and conditions (including pricing, proposed charging mechanisms, chargeability of items) proposing if necessary the most appropriate solution for the Firm.
• Ensures commercial optimization of the contract by making use of contractual levers to limit or reduce cost and by educating the retained organization on the contractual mechanisms.
• Act as primary point of escalation for any billing or contract related issues/ disputes
• Acts as the lead negotiator for all amendments, contract interpretations, new services and any other issues requiring contractual resolution.
• Manages benchmarking and mark-to-market activities as provided for in the contract or MSA
• Ensure that audit and risk guidelines are followed and appropriate procedures and practices are in place as required.

Is responsible for Contract Maintenance

• Manage the end-to-end process of Contract Change from development through to execution, including, negotiation of terms, development of contract documents, review by legal, and obtaining the relevant stakeholder approvals.
  • Initiation & Preparation of Change Request
  • Maintaining Log of all Change Requests and current status
  • Impact Assessments
  • Negotiation with Vendor in conjunction with Central Sourcing  and Firm wide processes and procedures
  • Physical update of contract.
  • Obtaining approvals and signatures as per corporate policies.
• Evaluate innovation gain sharing mechanisms and assures the alignment with the agreed-signed principles of innovation.

Primary Responsibilities

Manage Contract Administrator(s) if applicable:

• Create vision, clear direction  and strategy for the team
• Establishes, manages and coaches team to clear objectives and performance expectations
• Attracts, motivates, develops and retains highly skilled workforce
• Constantly monitors and improves team efficiency, effectiveness,  and impact
• Leads and enables enterprise wide thinking in the team
• Creates and environment that values employees and encourages cooperation, open communication and teamwork.
• Serves as a role model by demonstrating a commitment the Firm’s values and objectives, including diversity, and driving results.

Required in Place by

Optimally this role would participate in the RFP process to understand the contract, otherwise within 30-60 days before the contract signing.

Meetings  and Contacts

• Meet as needed with the Post Contract Governance Team  (Generally monthly )
• Meet as needed with the Vendor Contract Manger counterpart(s)
• Monthly Management Committee
• Meet quarterly  or as indicated with Executive Management Committee
• All other meetings and contacts that may be defined within the contract or by the Firm

Required Skill and experience

• General Knowledge of the area services are provided to by the contract ( desired )
• Legal or paralegal qualifications / experience ( a plus)
• Procurement or other sourcing experience  * Required
• Previous experience managing large / complex services contracts  ( highly desired)
• Five to Seven years general business experience  ( Minimum)
• Extensive experience with negotiations with third parties  ( highly desired)
• Excellent verbal and written skills   * Required
• People management and collaboration skills  * Required
• Firm but fair mindset

Who we Are

OneMain Financial (NYSE: OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. Since 1912, we’ve looked beyond credit scores to help people get the money they need today and reach their goals for tomorrow. Our growing suite of personal loans, credit cards and other products help people borrow better and work toward a brighter future.

Driven collaborators and innovators, our team thrives on transformative digital thinking, customer-first energy and flexible work arrangements that grow lives, careers and our company. At every level, we’re committed to an inclusive culture, career development and impacting the communities where we live and work. Getting people to a better place has made us a better company for over a century. There’s never been a better time to shine with OneMain.

Because team members at their best means OneMain at our best, we provide opportunities and benefits that make their health and careers a priority. That’s why we’ve packed our comprehensive benefits package for full- and some part-timers with: 

• Health and wellbeing options including medical, prescription, dental, vision, hearing, accident, hospital indemnity, and life insurances 
• Up to 4% matching 401(k)   
• Employee Stock Purchase Plan (10% share discount)   
• Tuition reimbursement   
• Paid time off (15 days’ vacation per year, plus 2 personal days, prorated based on start date) 
• Paid sick leave as determined by state or local ordinance, prorated based on start date 
• Paid holidays (7 days per year, based on start date) 
• Paid volunteer time (3 days per year, prorated based on start date)