What does a Contract Administrator/Contract Specialist do?
A Contract Administrator and Contract Specialist reviews all contracts of the company. They are responsible for reviewing every contract if it is for the company's benefit and if there are hidden risks. This person also helps draft future contracts and inspects new contracts during deals and negotiations. Contract Specialists update existing contracts, propose amendments if necessary, and advise the company on contracts that have risks that may affect the activities of the company.
Contract administrator/contract specialist responsibilities
Here are examples of responsibilities from real contract administrator/contract specialist resumes:
- Lead the projects through initial project execution at local CMO's.
- Create operational efficiencies by effectively managing databases containing RFP library responses and approve responses to request revisions to form agreements.
- Ensure refund to DLA from vendor if applicable.
- Make recommendations to the ACO concerning property issues as required.
- Monitor the contractor's purchase material and vendor QA controls.
- Review and analyzes contractor or vendor QA data and adjusts receiving process.
- Review vouchers and invoices for payment and update information in the MOCAS system.
- Utilize MOCAS database integrity checks and search WAWF documents to successfully monitor contracts.
- Provide legal counsel in the areas of contracts, risk management, compliance, RFP s and other special projects.
- Design and administration of SharePoint site to gather and collaborate project documents.
- Create operational efficiencies by effectively managing databases containing RFP library responses and approve responses to request revisions to form agreements.
- Apply the knowledge of AML and mortgage lending compliance requirements to the diverse businesses of a large financial institution.
- Monitor and confirm KYC forms and QIB forms are current, accurate, and complete; conduct OFAC and background checks.
- Execute and assist contract operations, requirements generation, administrative, and logistics support actions for a contingency contracting organization.
Contract administrator/contract specialist skills and personality traits
We calculated that 13% of Contract Administrator/Contract Specialists are proficient in Contract Management, Purchase Orders, and Contract Terms. They’re also known for soft skills such as Analytical skills, Communication skills, and Computer skills.
We break down the percentage of Contract Administrator/Contract Specialists that have these skills listed on their resume here:
- Contract Management, 13%
Function as the key support individual within the Corporate Legal Department for internal and external clients regarding time-sensitive contract management issues.
- Purchase Orders, 12%
Prepare administrative modifications to contracts, delivery orders, and blanket purchase orders.
- Contract Terms, 9%
Informed Corporate Management about possible business risks associated with contract terms and conditions.
- Data Entry, 9%
Manage bid CRM tool and all data entry.
- Price Analysis, 6%
Performed cost/price analysis on change order proposals and analysis of delivery requirements.
- Defense Finance, 3%
Request funding corrections from the Defense Finance and Accounting Service (DFAS) or the buying activity as necessary.
"contract management," "purchase orders," and "contract terms" are among the most common skills that contract administrator/contract specialists use at work. You can find even more contract administrator/contract specialist responsibilities below, including:
Analytical skills. One of the key soft skills for a contract administrator/contract specialist to have is analytical skills. You can see how this relates to what contract administrator/contract specialists do because "financial analysts must evaluate a range of information in finding profitable investments." Additionally, a contract administrator/contract specialist resume shows how contract administrator/contract specialists use analytical skills: "performed data entry operations using word processor. "
Communication skills. Another soft skill that's essential for fulfilling contract administrator/contract specialist duties is communication skills. The role rewards competence in this skill because "financial analysts must be able to clearly explain their recommendations to clients." According to a contract administrator/contract specialist resume, here's how contract administrator/contract specialists can utilize communication skills in their job responsibilities: "maintain fluid and open lines of communication with some of dod's highest visibility customers. "
Computer skills. This is an important skill for contract administrator/contract specialists to perform their duties. For an example of how contract administrator/contract specialist responsibilities depend on this skill, consider that "financial analysts must be adept at using software to analyze financial data and trends, create portfolios, and make forecasts." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a contract administrator/contract specialist: "utilize computer data bases for travel arrangements. ".
Detail oriented. contract administrator/contract specialist responsibilities often require "detail oriented." The duties that rely on this skill are shown by the fact that "financial analysts must pay attention when reviewing a possible investment, as even small issues may have large implications for its health." This resume example shows what contract administrator/contract specialists do with detail oriented on a typical day: "created detailed contract closeout reports for management to review. "
Math skills. Another common skill required for contract administrator/contract specialist responsibilities is "math skills." This skill comes up in the duties of contract administrator/contract specialists all the time, as "financial analysts use mathematics to estimate the value of financial securities." An excerpt from a real contract administrator/contract specialist resume shows how this skill is central to what a contract administrator/contract specialist does: "conducted qualitative and quantitative consultative research contract management. "
The three companies that hire the most contract administrator/contract specialists are:
- Aerojet Rocketdyne6 contract administrator/contract specialists jobs
- Intermountain Healthcare4 contract administrator/contract specialists jobs
- University of Virginia4 contract administrator/contract specialists jobs
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Contract administrator/contract specialist vs. Purchasing agent
A purchasing agent's general task is keeping purchase records and making sure that there won't be any discrepancies with the handling of orders. The purchasing agent should be responsible for the order processing and payment collection. Purchasing agents should also be proficient in interpreting and evaluating data, researching on best marketing sources and alternatives, issuing required documentation for suppliers, as well as managing customer queries as needed. Being a purchasing agent requires critical-thinking skills in assessing concerns and providing solutions should there be any possible negotiation conflicts.
There are some key differences in the responsibilities of each position. For example, contract administrator/contract specialist responsibilities require skills like "contract management," "contract terms," "data entry," and "provides administrative support." Meanwhile a typical purchasing agent has skills in areas such as "customer service," "inventory control," "mrp," and "cost savings." This difference in skills reveals the differences in what each career does.
Purchasing agents earn the highest salaries when working in the technology industry, with an average yearly salary of $55,517. On the other hand, contract administrator/contract specialists are paid more in the technology industry with an average salary of $58,854.The education levels that purchasing agents earn slightly differ from contract administrator/contract specialists. In particular, purchasing agents are 4.6% less likely to graduate with a Master's Degree than a contract administrator/contract specialist. Additionally, they're 4.3% less likely to earn a Doctoral Degree.Contract administrator/contract specialist vs. Senior purchasing agent
Senior Purchasing Agents are experienced employees in the company's purchasing department. They oversee the purchase requisitions of the employees. They validate requests, ensure that the requestors followed company guidelines, check the availability of the items with the chosen supplier, and forward the purchase order to the supplier. Upon fulfillment of the request, Senior Purchasing Agents check the deliveries, ensure that the items are complete and correct, forward the items to the requestor, and process the payment for the supplier. Senior Purchasing agents also prepare reports, spot trends in employee or department purchases, and create recommendations based on observations. They are also expected to form good working relationships with suppliers.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that contract administrator/contract specialist responsibilities requires skills like "data entry," "provides administrative support," "defense finance," and "contract modifications." But a senior purchasing agent might use other skills in their typical duties, such as, "project management," "supplier relationships," "customer service," and "continuous improvement."
On average, senior purchasing agents earn a higher salary than contract administrator/contract specialists. Some industries support higher salaries in each profession. Interestingly enough, senior purchasing agents earn the most pay in the energy industry with an average salary of $89,158. Whereas contract administrator/contract specialists have higher pay in the technology industry, with an average salary of $58,854.Average education levels between the two professions vary. Senior purchasing agents tend to reach similar levels of education than contract administrator/contract specialists. In fact, they're 2.7% more likely to graduate with a Master's Degree and 4.3% less likely to earn a Doctoral Degree.Contract administrator/contract specialist vs. Senior agent
A senior agent manages incoming calls, generates leads, and schedules appointments for important meetings. They must accurately track and respond to the internet leads and provide top quality customer service to the clients. Their job also requires them to travel to multiple countries to monitor company functions. They must also estimate the costs of infrastructure and construction projects.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a contract administrator/contract specialist is likely to be skilled in "contract management," "purchase orders," "contract terms," and "data entry," while a typical senior agent is skilled in "right-of-way," "real estate," "sr," and "work ethic."
Senior agents earn the best pay in the energy industry, where they command an average salary of $59,581. Contract administrator/contract specialists earn the highest pay from the technology industry, with an average salary of $58,854.Most senior agents achieve a similar degree level compared to contract administrator/contract specialists. For example, they're 3.4% less likely to graduate with a Master's Degree, and 3.8% less likely to earn a Doctoral Degree.Contract administrator/contract specialist vs. Media buyer
Media Buyers are marketing professionals who manage the company's advertisements. They create the company's media plan to determine the advertising needs of the company. They negotiate with external providers to get the best advertisement placement values. To do this, Media Buyers are expected to conduct thorough research on the different advertising companies, networks, media, size of placement, and length of advertisement. Their research must consider the target market and determine the best media to reach their target market. Media Buyers should have good negotiation skills and must be able to maintain good working relationships with providers.
Even though a few skill sets overlap between contract administrator/contract specialists and media buyers, there are some differences that are important to note. For one, a contract administrator/contract specialist might have more use for skills like "contract management," "purchase orders," "contract terms," and "data entry." Meanwhile, some responsibilities of media buyers require skills like "digital marketing," "campaign performance," "media buying," and "facebook. "
The professional industry tends to pay the highest salaries for media buyers, with average annual pay of $74,775. Comparatively, the highest contract administrator/contract specialist annual salary comes from the technology industry.The average resume of media buyers showed that they earn lower levels of education compared to contract administrator/contract specialists. So much so that theyacirc;euro;trade;re 6.0% less likely to earn a Master's Degree and less likely to earn a Doctoral Degree by 4.6%.Types of contract administrator/contract specialist
Updated January 8, 2025