Contract Management Officer

OVERVIEW

The Contract Management Officer is responsible for the end-to-end lifecycle management of strategic third-party contracts supporting the Bank's operations and business objectives. This role will oversee a portfolio of vendor agreements up to $50 million in annual contractual spend and serve as a trusted advisor to business stakeholders throughout contract planning, negotiation, execution, renewal, and termination activities.

The Contract Management Officer ensures contractual arrangements align with the Bank's risk appetite, regulatory requirements, procurement standards, and financial objectives while maximizing vendor performance and value realization.

ESSENTIAL FUNCTIONS

Contract Lifecycle Management

• Lead the administration and governance of a portfolio of complex supplier and service provider contracts totaling up to $50 million in annual spend.
• Manage contract activities from intake and review through negotiation support, execution, amendment, renewal, and termination.
• Maintain contract records, documentation, and obligations within contract management systems.
• Monitor contract milestones, key dates, deliverables, renewal windows, and expiration timelines to mitigate operational and financial risk.
• Ensure contracts contain required legal, regulatory, risk, information security, privacy, and business continuity provisions.

Vendor and Stakeholder Management

• Serve as the primary contract management point of contact for business units, procurement, legal, compliance, risk management, and vendor relationship managers.
• Partner with internal stakeholders to translate business requirements into effective contractual terms and outcomes.
• Support vendor performance reviews and facilitate resolution of contractual issues, disputes, and compliance concerns.
• Develop and maintain productive relationships with strategic suppliers and key internal partners.

Risk and Compliance Oversight

• Identify, assess, and escalate contractual, operational, regulatory, and third-party risks associated with vendor engagements.
• Ensure contracts comply with applicable banking regulations, internal policies, and third-party risk management standards.
• Support audits, examinations, and regulatory reviews by providing contract documentation and evidence of compliance.
• Collaborate with Legal, Information Security, Compliance, and Risk teams to address contractual control requirements.

Financial Management

• Monitor contract value, spend commitments, pricing structures, and financial obligations.
• Identify opportunities to reduce costs, eliminate risk, improve contract terms, and optimize vendor value.
• Support budget planning, forecasting, and spend analysis activities.
• Assist stakeholders with business case development, contract renewals, and commercial negotiations.

Reporting and Governance

• Prepare contract portfolio reports, metrics, and executive summaries for management.
• Track contract compliance, supplier obligations, performance measures, and service level commitments.
• Contribute to continuous improvement initiatives that enhance contract management processes, controls, and governance practices.
• Support contractual reviews for all monitored vendors, especially the high and critical-risk third-party relationships.

Program Documentation & Training

• In partnership with the Vendor Risk and Oversight Manager this position will develop and maintain process procedure to reflect the functions being performed in this department.
• Develop training materials to be disseminated to the bank associates that own, supports, and manages vendor relationships.
• Maintain internal documentation of any process changes through continuous improvement efforts.
• Support all program role out efforts to communicate changes to the organization.

KNOWLEDGE/SKILLS/EXPERIENCE

• Preferred bachelor's degree in business administration, risk management, MIS, Finance or related field or an equivalent combination of education and experience.
• Advanced knowledge of vendor management process and third-party risk.
• Demonstrated organizational and analytical skills, strategic thinking and ability to work collaboratively and independently.
• Ability to perform or distribute tasks as needed or required to ensure department objectives are met.
• Demonstrated ability to train and mentor staff.
• Strong system and process analysis skills of bank products, services, and systems.
• Strong customer service skills and oral/written communication skills.
• Expert knowledge of Bank's systems as applicable.
• Strong knowledge of Bank, Federal and State policies, regulations, and requirements as applicable.
• Proficient PC skills to navigate Bank software, including Microsoft Suite and other related applications.
• Ability to prioritize work projects to meet deadlines as well-organized work habits.
• Hours need to be flexible to accommodate a variety of activities regarding contractual timelines.
• Regular, reliable attendance is required of this position.

Compensation: $77,798 - $116,698

The compensation range represents the low and high end of the base compensation range for this position located in Spokane, WA. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance. This position is eligible to participate in an applicable incentive plan.

What Our Culture Can Offer You:

Our benefit philosophy is to provide you with a comprehensive package to secure your overall wellness and help you become and remain a fulfilled and productive employee. Our benefits include Health, Financial, Retirement and Work/Life Benefits. We are proud to share an overview of our benefits HERE as part of your total compensation.

Washington Trust Bank celebrates diversity in the workplace and actively recruits talent to help reflect the unique communities where we live and work. We are proud to be an equal opportunity employer and prohibit discrimination or harassment based on race, religion, sex, gender identity, sexual orientation, national origin, age, pregnancy, disability, genetic information and any other protected characteristics outline by state, federal and local laws. We believe strength comes from the diverse backgrounds and experiences of our team, and we are dedicated to fostering a supportive and inclusive work environment.