IT Vendor Contracts Specialist

Job Description – IT Vendor Contracts Specialist

Role Summary:

The IT Vendor Contracts Specialist will be responsible for managing the end-to-end lifecycle of IT and procurement-related contracts. The role involves reviewing and drafting contracts, ensuring legal and regulatory compliance, maintaining contract repositories, tracking renewals, supporting audits, and coordinating with internal and external stakeholders to facilitate timely contract execution while safeguarding organizational interests.

Key Responsibilities:

1. Contract Drafting, Review & Vetting

• Review, vet, negotiate, and manage IT vendor agreements, including:
• Master Services Agreements (MSA)
• Statements of Work (SOW)
• Addendums and Amendments
• Non-Disclosure Agreements (NDA)
• Cloud Services Agreements
• Datacentre Agreements
• Order Documents (OD)
• Software Licensing and Procurement Contracts
• SLA
• Data Privacy Agreements
• Draft contractual documents and provide legal and commercial advisory support.
• Identify contractual, operational, regulatory, and business risks and recommend appropriate mitigations.
• Review and negotiate vendor redlines to protect the organization's interests.
• Manage contract review cycles and ensure timely exchange and closure of contract drafts.
• Verify compliance with internal approval processes, Delegation of Authority (DOA), and applicable policies before execution.

2. Contract Execution & Processing:

• Coordinate contract execution activities, including stamping, e-stamping, e-signatures, and system-based approval workflows.
• Ensure completion of contracts within defined turnaround times and service standards.
• Facilitate seamless contract execution through coordination with legal, procurement, business, and vendor teams.
• Monitor contract execution status and resolve bottlenecks to expedite closures.

3. Contract Repository Management & Compliance:

• Maintain a centralized repository of all active and archived contracts in both digital and physical formats.
• Ensure proper filing, indexing, numbering, version control, and document retention.
• Maintain complete audit trails and supporting documentation throughout the contract lifecycle.
• Issue and maintain records of Evidence Certificates and related documentation.
• Ensure adherence to company policies, legal requirements, and document governance standards.

4. Contract Lifecycle Management & Renewals:

• Track contract milestones, expiry dates, termination notices, and renewal timelines.
• Send proactive alerts and reminders to business owners and stakeholders for upcoming renewals.
• Coordinate renewal discussions, amendments, and contract extensions.
• Maintain accurate contract status records and renewal dashboards.

5. Audit, Regulatory & Risk Support

• Support internal, statutory, regulatory, and external audits.
• Respond to audit observations and information requests from auditors and regulators.
• Assist in RBI-related data requests, compliance reviews, and regulatory submissions.
• Ensure contract records and supporting documentation are readily available for audit and regulatory inspections.
• Monitor compliance with contractual obligations and regulatory requirements.

6. Reporting & Stakeholder Management:

• Act as a central point of contact for contract-related coordination across legal, procurement, IT, finance, compliance, and business teams.
• Coordinate with vendors and internal stakeholders to facilitate approvals, negotiations, execution, and documentation.
• Prepare and publish Management Information System (MIS) reports and dashboards on:
• Contract pipeline and status
• Renewal and expiry tracking
• Contract execution timelines
• Vendor agreement metrics
• Compliance and audit activities
• Prepare periodic reports on stamp duty consumption and related compliance requirements.

Desired Qualifications

• LLB or equivalent legal qualification preferred.

Experience

• 3–8 years of experience in IT Contracts, Vendor Contracts, Procurement Contracts, Commercial contracts.
• Experience within Banking, Financial Services, Technology, IT Services, or Corporate Procurement environments preferred.
• Hands-on experience reviewing and negotiating IT, cloud, software licensing, and vendor services agreements.

Key Skills & Competencies

• IT Contract Review & Negotiation
• Knowledge of DPDPA
• Legal Drafting & Contract Advisory
• Contract Lifecycle Management (CLM)
• Regulatory & Compliance Awareness
• RBI and Audit Support
• Stakeholder Management
• MIS & Reporting
• Attention to Detail
• Strong Written and Verbal Communication
• Proficiency in MS Excel, PowerPoint, Word, and Contract Management Systems