Interview policyholders and pay-out small insurance claims.
Put simply, a Contracts Manager manages contracts. Contracts Managers are in charge of creating, editing, enforcing, and executing contracts to make sure that all parties involved are served well. The types of contracts you deal with if you’re a Contracts Manager are all over the board – every time you think you’ve seen it all, here comes something new. However, some that you’re likely familiar with include: employment contracts, partnership agreements, trade agreements, prenuptial agreements, and sales invoices.
What’s a typical day for a Contract Manager? It depends on the business you’re in, but for most part it includes creating or refining contracts. This could mean changing prices of goods, negotiating the terms of an agreement, or analyzing contracts for risks to the companies involved.
These tasks are extremely nit-picky, and to do them well you need a keen eye for detail – the smallest clause can become of the utmost import when a contract is brought to bear in a professional disagreement.
A successful Contract Manager will have at least a bachelor degree, and more than 50% will have a graduate degree such as an MBA or even a J.D. Many Lawyers, in fact, offer contract management as part of their legal counsel (though few will practice solely contract management).