Principal Associate, Contract Management

West Creek 7 (12077), United States of America, Richmond, Virginia
Principal Associate, Contract Management
Principal Associate, Contract Management
At Capital One, we dare to dream, disrupt and deliver a better way. Our goal is simple - bring ingenuity, simplicity and humanity to an industry ripe for change. We are seeking a Principal Associate, Contract Manager to join our Enterprise Supplier Management (ESM) team. In ESM, we empower associates to deliver their best by cultivating a culture of inclusion and belonging, where varying perspectives and opinions are valued. We embrace each other's differences and encourage all team members to lean into their talents and skills to deliver superior experiences for both internal and external clients.
As a Principal Associate, Contracts Manager, you will work in a collaborative environment that values insight, creative thinking, problem solving, intellectual curiosity and a growth mindset. You will partner with world-class professionals to bring procurement resources, tools, methodologies and judgment to business units. You will work closely with internal business resources, procurement stakeholders, legal and other stakeholders across the enterprise to ensure all third-party agreements meet Capital One's contracting standards and requirements. As the lead for negotiating contracts with third parties, this role is essential in the execution of an agreement to manage and mitigate risk and lay out the responsibilities of the parties. You will draft and negotiate low to medium risk contracts to drive business value.
If you enjoy connecting with others, collaborating on cross-functional teams and negotiating deals, we are looking for you. Come be a part of something special where you work with teams who appreciate your contributions, and where sharing your thoughts and ideas is encouraged.
Key responsibilities of the Contracts Manager, Manager role include:

• Assessment and Planning: Assessing transactions and creating deal strategies. You will work closely with business customers and internal stakeholders to understand needs, determine the risks and design appropriate execution plans.
• Drafting: Drafting and/or redlining contracts to ensure that Capital One is adequately protected from risk leveraging industry best practices and subject matter expertise
• Negotiation: Effectively negotiate with Suppliers to produce contracts within Capital One contracting standards and business objectives. You will be responsible for planning and executing negotiation strategy in a timely manner while remaining flexible to changing circumstances and partnering with internal team resources as needed.
• Transaction Management: Managing transactions independently, efficiently and driving to completion in a timely manner. As the central point of contact for each contract, you will leverage your organizational skills and influence to ensure deals are negotiated and executed in accordance with business and ESM timelines.
• Communication: Effectively communicating with fellow associates, leadership, and third parties. You will regularly communicate with internal stakeholders including the line of business, legal, compliance and data security groups to determine what risks are truly material in each transaction.
• Collaboration: Working closely with the larger ESM team, and stakeholders as appropriate.
• Strategic Advice: Serving as a subject matter expert on Capital One's Contract and Third Party Management Policies & Procedures. You will explain what we do and why we do it to internal stakeholders to minimize risk while building a better way to protect the broader organization.

Note: Limited travel may be required.
Basic Qualifications:

• Bachelor's Degree or Military experience
• At least 3 years of experience in contract drafting, evaluation, negotiation, and execution

Preferred Qualifications:

• Juris Doctorate
• At least 3 years of experience in Procurement, Legal or Supply Chain experience
• At least 3 years of experience in reviewing contract redlines and proposals as part of RFP's
• At least 4 years of experience creating and executing contracting and negotiation strategies

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.
The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.
New York City (Hybrid On-Site): $134,100 - $153,000 for Principal Assoc., Contracts
Illinois (Hybrid On-Site): $125,000 - $142,600 for Principal Assoc., Contracts
Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.
This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website . Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
This role is expected to accept applications for a minimum of 5 business days.
No agencies please. Capital One is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex (including pregnancy, childbirth or related medical conditions), race, color, age, national origin, religion, disability, genetic information, marital status, sexual orientation, gender identity, gender reassignment, citizenship, immigration status, protected veteran status, or any other basis prohibited under applicable federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at [email protected] . All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).