Ensure that your company can fulfill its contracts.
What does a Contract Compliance Director do?
Company A signs a contract where they promise to make a giant, pink elephant and deliver it to Company B by Easter. Instead, Company A delivers a purple rabbit in time for Halloween. Clearly, Company A needs to hire a Contract Compliance Director.
A Contract Compliance Director monitors all of the contracts the company signs, and makes sure the company is fulfilling all of the promises outlined in those contracts. This work can keep expensive, and embarrassing, mistakes from occurring.
As a Contract Compliance Director, you supervise a team of Contract Compliance Officers. You hire these professionals, train them, and evaluate their progress in formal reviews. At times, you replace underperforming employees with new staff members.
Before your President signs a contract, you’re given a chance to review the document and point out any promises that you know your company won’t be able to keep. Some contracts move between your company and the client multiple times, with revisions happening each time, allowing you to become quite familiar with the document.
When a contract is signed, you give it to a Contract Compliance Officer for tracking. Your staff ensures that the contract’s promises are met by filling out a series of reports, and you review those reports periodically.
When a client’s Lawyer feels that your company isn’t keeping its promises, you ask your staff for a report on that contract, and you review the report and the contract. If you find a discrepancy, you bring it to the attention of the company President right away.