Contract Risk Specialist

At Vanderbilt Mortgage, we believe homeownership makes lives better. For over 50 years, we’ve been committed to making homeownership more attainable for families across the country by providing mortgage solutions that unlock the freedom of home. As a national housing lender, we specialize in financing new and pre-owned manufactured and modular homes. With a diverse range of loan products, a reputation for world-class customer service and a coast-to-coast presence, Vanderbilt continues to be a leader in the industry. Our strength is our people—which is why we prioritize investing in our Team Members through opportunities for growth, a healthy work-life balance, and meaningful recognition of their contributions. Whether just starting out or bringing years of experience, Vanderbilt empowers our Team Members with the tools and training to build a successful career and reach their full potential.

POSITION TITLE: Contract Risk Specialist (Non-LO-No Consumer Contact)

DEPARTMENT: Vendor Compliance and Contracts

JOB STATUS: Full Time/Salary                                                     

REPORTS TO: Third Party Risk Manager

TRAVEL REQUIRED: Minimal

WORK SCHEDULE: Hybrid - 3 days remote, 2 days in-office

PAY: The expected hiring range for this position is from $76,465-95,585/year plus additional bonus opportunity. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs.

JOB SUMMARY

The Intermediate Contract Compliance Analyst is responsible for protecting the company by verifying company contracts that meet quality standards and are maintained as business needs change and diversify. The position serves as the department's contract and contractual risk specialist. This position supports the lifecycle management of contracts by reviewing agreements, documenting key contractual terms, identifying contractual risks, drafting contract redlines, supporting contract negotiations, managing contract-related reporting, and assisting with contract-governance processes. The role partners closely with Corporate Legal, Enterprise Resource Planning, Information Security, business stakeholders, and third parties to support contract oversight, risk mitigation, vendor governance, strategic decision-making, and process development. The position supports all Risk Management teams but maintains a primary focus on third-party contracts, technology agreements, contract negotiations, renewals, and contractual risk management.

JOB FUNCTIONS

Contractual Lifecycle and Risk Management, Negotiation, and Administration

• Reviews, analyzes, and summarizes third-party agreements, including technology agreements, software-as-a-service agreements, master service agreements, statements of work, confidentiality agreements, and professional services contracts to identify contractual, operational, financial, regulatory, and reputational risks. This also includes, but is not limited to other various company contracts such as correspondent investor, hedge, broker, and purchase and sale agreements for bulk sales and acquisitions to support current and future business needs.
• Identifies contractual provisions that may create financial exposure, operational dependency, regulatory risk, information security risk, vendor concentration risk, business continuity risk, or reputational risk and escalates concerns appropriately.
• Drafts and proposes redlines to agreements using approved company templates, playbooks, and risk-management standards.
• Leads or coordinates negotiation of contractual provisions including indemnification, limitation of liability, confidentiality, information security, privacy, incident notification, audit rights, insurance requirements, business continuity requirements, service level commitments, pricing protections, termination rights, and regulatory compliance obligations.
• Prepares contract-risk summaries, negotiation issue logs, recommended contract language, and briefing materials for review by Third Party Risk leadership, Corporate Legal, and business stakeholders.
• Tracks, documents, and maintains contracts, amendments, statements of work, master service agreements, technology agreements, nondisclosure agreements, and other contract records, including the Oracle Contract Module.
• Identifies and summarizes key contractual terms, including renewal dates, renewal terms, auto-renewal provisions, non-renewal notice requirements, termination rights, termination for convenience provisions, pricing obligations, monthly minimums, implementation fees, early termination fees, buyouts, service-level commitments, data security requirements, indemnification, limitation of liability, and other risk-related terms.
• Evaluates, tracks, and proposes amendments to vendor contract language, as applicable. Provides write-ups, contract proposals, summaries, and documentation for review to support the Third Party Risk Supervisor or Manager, business departments, Corporate Legal, and leadership in contract negotiations and renewal decisions.
• Monitors contracts for compliance, facilitates execution, and maintains nondisclosure agreements with parties as needed.
• Researches contract requirements and coordinates with business owners to verify contractual obligations are understood, documented, and monitored.
• Provides periodic updates of contract volume, renewal status and timeframes, negotiation progress, open issues, and contractual risk trends to department leadership and senior management.
• Develops and maintains contract checklists, summaries, templates, intake documentation, and process documentation to support consistent contract review, storage, monitoring, reporting, and renewal management.
• Verifies compliance with previously executed agreements and assists business owners with identifying follow-up items needed to satisfy contractual requirements.

Contract Risk Reporting, ERP Coordination, and Process Development

• Partners with Enterprise Resource Planning and other internal reporting resources to develop Oracle reporting that improves visibility into contractual risk, renewal timing, termination windows, pricing commitments, vendor minimums, and other key obligations.
• Develops and maintains contract data fields, trackers, dashboards, and reporting inputs to support leadership decision-making, restructuring analysis, contract renewal planning, and third-party risk monitoring.
• Develops queries, manipulates data into necessary formats, validates contract data, improves reporting processes, and supports special projects related to contract management and contractual risk.
• Assists with discovery and implementation for third party risk management software and contract lifecycle management processes. Makes enhancements, performs data cleanup, and makes suggestions for other related process improvements.
• Assists with building repeatable contract-management processes and policies, including intake, review coordination, term capture, renewal reminders, escalation paths, and reporting cadences.

Supports Third Party Risk and Vendor Activities

• Assists the Third Party Risk Manager and Third Party Risk Supervisor with technology vendors, renewals, contract documentation, vendor-risk reporting, and contract-related follow-up items.
• Supports Third Party Risk team in performing required due diligence, obtaining necessary documents, and assisting with third-party related projects, including third party cybersecurity and incident response.

Other Duties as assigned

• This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.

QUALIFICATIONS:                                                                                                                                           

• Bachelors’ Degree in related field required.
• 2-4 years related experience required.
• Prior experience reviewing compliance requirements and legal contracts is preferred.
• Must be willing to travel as needed (estimated less than 10% of the year).
• Working knowledge of loan applications, closing documents, servicing processes, and financing terminology.
• Ability to understand and evaluate contractual provisions including indemnification, limitation of liability, confidentiality, information security, privacy, service levels, termination rights, insurance requirements, regulatory obligations, and pricing structures.
• Ability to effectively negotiate contract terms while balancing business objectives, operational needs, regulatory requirements, and risk-management considerations.
• Proficiency in Word and Excel, including formulas and features.
• Ability to research, build, and run queries and logically understand query definitions.
• Works with all levels of organization utilizing superior communication and technical skills.
• Ability to use various project management platforms and software suites to work in a fast-paced environment with a high level of attention to detail, time management, and organizational skills
• Ability to communicate effectively and efficiently via phone, email, and person to person.
• Capability of gathering facts accurately, analyze causes, evaluate alternate solutions, and arrive at sound conclusions on action to be taken.
• Analyze data effectively and efficiently.
• Ability to manage multiple deadlines, complete tasks timely, and follow-up as needed.
• Ability to manage multiple and/or conflicting responsibilities.
• Ability to manage workload independently and in a team environment.

PHYSICAL DEMANDS:

Must be able to remain in a stationary position 75% of the time.

Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.

Will be communicating 50% of the time over the phone, Zoom, and Teams.

Must be able to exchange accurate information at all times.

Must be able to identify and assess account status and determine appropriate process.

Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.

BENEFITS:

• Medical and Dental Plan with Prescription Coverage and Vision
• Competitive benefits including 401(K) includes 100% company match of the first 4%
• Paid time off days (PTO), maternity/paternity leave, and holidays
• Community involvement including Volunteer Paid Time Off (VTO)
• Tuition Assistance for your first degree
• Enjoy coming “home” to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant.

BENEFITS:

• Medical and Dental Plan with Prescription Coverage and Vision.

• Competitive benefits including 401(K) includes 100% company match of the first 4%.

• Paid time off days (PTO), maternity/paternity leave, and holidays.

• Community involvement including Volunteer Paid Time Off (VTO).

• Tuition Assistance for your first degree

• Enjoy coming “home” to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant.

• Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being.

• Collaborative and energetic work environment.

• Professional development and promotional opportunities.

• Competitive bonus programs.

Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.

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