Contract Management
Competency Title:
Contract Management
Competency Type:
Functional
Competency Description
This competency refers to the ability to draft, negotiate and execute contracts in accordance with requirements of contract laws and business needs. The scope includes agreements related to capital market services, business deals and corporate deals.
Level 1 - Awareness
Level 1
• Recognise the needs for contracts in business transactions.
• Recognise typical issues and disputes in contract management.
• Recognise the various contract management activities.
• Identify types of contractual risks and possible mitigation actions.
Level 2 - Knowledge
Level 2
• Relate regulatory requirements to the contract management process in business.
• Differentiate negotiable contract terms from non-negotiable terms.
• Match the level of contract management activity against the nature of transaction.
• Explain types of contractual risk and possible mitigation actions.
Level 3 - Skill
Level 3
• Interpret and incorporate regulatory and business requirements into the contract document.
• Identify possible issues and disputes arising from contract negotiation.
• Coordinate execution of agreed service levels and contractual obligations.
• Identify associated contract risks and propose mitigation actions.
Level 4 - Mastery
Level 4
• Review contract terms against regulatory and business requirements.
• Propose solutions to resolve issues and disputes between contracted parties.
• Establish and clarify contract management responsibilities of contract stakeholders.
• Appraise associated contract risk and proposed mitigation actions.
Level 5 - Expert
Level 5
• Challenge and resolve contractual non-compliance issues.
• Formulate strategy to negotiate and resolve contract issues and disputes between contracted parties.
• Monitor and evaluate the performance of contract execution by all contract stakeholders.
• Formulate strategy to reduce contractual risks and resolve risk issues.