Senior Contract Analyst at Lafayette Federal Credit Union

Rockville, Maryland, United States -

Full Time

Start Date

Immediate

Expiry Date

30 Sep, 26

Salary

95000.0

Posted On

02 Jul, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Contract Management, Contract Negotiation, Vendor Risk Management, Contract Law, Analytical Skills, Problem Solving, Communication Skills, Attention To Detail, Organizational Skills, Stakeholder Management, Conflict Resolution, Due Diligence, Regulatory Compliance, Microsoft Office, NContracts, Financial Analysis

Industry

Banking

Description

Description NOTICE: JOB APPLICANTS LIMITED TO DC, MD, OR VA RESIDENTS. POSITION IS HYBRID. Please note that we are exclusively considering applicants residing in the District of Columbia, Maryland, or Virginia for all open positions. Be part of Lafayette Federal Credit Union, recognized by USA Today as a Top Workplace for three consecutive years (2024–2026) We are expanding and looking for exceptional talent to support our members and contribute to our reputation as an employer of choice. Be a key player in our mission to become the premier financial partner for our community. Your skills and dedication are essential to our success. Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Senior Contract Analyst to join our dynamic team! About us: Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row! Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community. Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry. About the role: Lafayette Federal Credit Union is currently seeking a Senior Contract Analyst who will be responsible for the analysis, administration, and oversight of the Credit Union’s contracts and third-party vendor relationships. This role ensures contractual agreements are structured to protect the Credit Union’s interests, support strategic business objectives, and maintain compliance with applicable legal and regulatory requirements. The Senior Contract Analyst serves as a key partner within the Risk Management Division, providing expertise throughout the contract lifecycle, including contract review, negotiation support, vendor due diligence, performance monitoring, and ongoing agreement administration. This position helps ensure contracts and associated documentation are legally sound, financially favorable, and aligned with Credit Union policies and operational standards. The role is responsible for supporting compliance with regulatory expectations established by the NCUA, FFIEC, CFPB, and Lafayette Federal Credit Union’s Third-Party Vendor Risk Management Policy. Additionally, the Senior Contract Analyst performs a variety of analytical, administrative, and technical functions to support the day-to-day management of the Credit Union’s vendor portfolio, helping to strengthen risk management practices, enhance vendor performance, and promote effective governance across the organization. Requirements Essential Functions Review, analyze, and administer contracts to ensure terms, scope of work, and obligations align with Credit Union objectives. Negotiate contract terms, payment structures, and document processes within established authority levels. Ensure compliance with Credit Union policies, procedures, legal requirements, and regulatory guidelines. Coordinate with business units to support contract execution, monitoring, renewals, and vendor performance management. Maintain accurate contract records and documentation within the NContracts Data Management System. Conduct vendor risk assessments and assist with ongoing risk monitoring activities. Prepare reports, support policy implementation efforts, and provide training and guidance to internal stakeholders. Collaborate with Legal Counsel, when necessary, regarding contract interpretation, negotiation, and risk mitigation. Perform due diligence reviews on prospective and existing vendors using LexisNexis, Dun & Bradstreet, the Better Business Bureau, SEC resources, and other research tools. Review, approve, and maintain vendor documentation, including contracts, amendments, renewals, insurance certificates, SOC reports, financial statements, proposals, and invoices. Upload and maintain vendor records and supporting documentation within the NContracts Data Management System. Coordinate with the Claims and Contract Specialist to ensure newly approved vendors are properly documented and captured within the department's master repository. Maintain current and accurate vendor corporate, contact, and relationship information. Access vendor portals, extranets, trust sites, and file-sharing systems to obtain and validate required documentation. Prepare, scan, and update vendor records and supporting documents within the NContracts Data Management System. Track annual reviews, risk assessments, contract renewals, and other vendor management activities through calendar reminders and workflow monitoring. Coordinate with Business Unit Relationship Managers to validate completion of required vendor reviews and risk assessments. Assist in gathering, reviewing, and validating documentation required for internal and external audits. Maintain a thorough understanding of and comply with all Credit Union policies, procedures, regulatory requirements, and mandatory training programs. Complete required training in areas including Vendor Management, BSA/AML, OFAC, Cybersecurity, Diversity & Inclusion, Anti-Harassment, and Fair Lending. Perform additional responsibilities, special projects, and other duties as assigned by the Senior Vice President of Risk Management and/or Vice President of Risk and Vendor Management. Qualifications Education Bachelor's degree required. Certification in contract management or vendor management preferred. Minimum of 10 years of experience in a financial institution or related field. Experience Proven experience in contract management and negotiation. Strong understanding of contract law. Proficiency in Microsoft Office. Excellent analytical, problem-solving, and communication skills. Strong attention to detail and organizational skills. Ability to work collaboratively with internal and external stakeholders. Interpersonal Skills Ability to establish and maintain effective working relationships with individuals inside and outside the Credit Union. Skilled in first-level conflict resolution, relationship building, and soliciting cooperation from others. Ability to handle confidential and sensitive information with discretion, diplomacy, and tact. Other Skills Thorough knowledge of Credit Union policies, procedures, regulatory guidelines, and industry practices. Demonstrates a high level of accuracy, attention to detail, and thoroughness in completing work assignments. Top benefits or perks: Joining Lafayette Federal comes with perks to support you in your personal and professional journey. We provide employees with a generous benefits package including: Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan) Fully funded deductible (HMO Plan) 401k employer matching contribution Income protection with life insurance, short and long-term disability Paid time off, holiday leave & birthday leave Educational assistance Commuter benefits program and more ! Pay: $78,000 - $95,000 annually depending on experience and qualifications. The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job. *Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer *EOE/AA/DISABILITY/VETERAN

Responsibilities

Responsible for the analysis, administration, and oversight of contracts and third-party vendor relationships to protect the Credit Union's interests. This includes managing the contract lifecycle, conducting risk assessments, and ensuring compliance with regulatory requirements.