Senior Contract Analyst

Lafayette Federal Credit Union; Rockville (MD); Hybrid; USD 78,000 - 95,000; Full time

Benefits offered by this job

Employer-paid health insurance premium

401(k) employer matching contribution

Paid time off

Educational assistance

Commuter benefits program

Job summary

Lafayette Federal Credit Union is seeking a Senior Contract Analyst to oversee contracts and vendor relationships in a hybrid work environment. The successful candidate will ensure compliance and alignment with strategic objectives.

This role requires a bachelor's degree and at least 10 years of experience in contract management, offering an annual salary between $78,000 and $95,000 based on qualifications. Candidates should possess strong analytical and communication skills.

Qualifications

• Bachelor’s degree required.
• Minimum of 10 years of experience in a financial institution or related field.
• Proven experience in contract management and negotiation.

Responsibilities

• Review and administer contracts to align with Credit Union objectives.
• Negotiate contract terms and document processes.
• Ensure compliance with Credit Union policies and legal requirements.
• Conduct vendor risk assessments.

Skills

Contract management

Analytical skills

Problem-solving

Communication skills

Attention to detail

Education

Bachelor's degree

Certification in contract management or vendor management

Tools

Microsoft Office

Job description

Senior Contract Analyst

Open to applicants residing in the District of Columbia, Maryland, or Virginia. This is a hybrid position.

We are expanding and looking for exceptional talent to support our members and contribute to our reputation as an employer of choice. If you are a key player who wants to help become the premier financial partner for our community, we need you.

About The Role

The Senior Contract Analyst is 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 Analyst serves as a key partner within the Risk Management Division, providing expertise throughout the contract lifecycle — contract review, negotiation support, vendor due diligence, performance monitoring, and ongoing agreement administration.

Responsibilities

• 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 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 in 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.
• 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.

Benefits and Perks

• Employer‑paid (99.9 %) health insurance premium for single and family coverage (HMO Plan).
• Fully funded deductible (HMO Plan).
• 401(k) 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.

Equal Opportunity Employer

• Lafayette Federal Credit Union is an Equal Opportunity and E‑Verify Employer.
• EOE/AA/Disability/Veteran.