Contract Analyst II Job For Life Sciences Candidates at Labcorp, Apply Online

Labcorp Contract Analyst Job Opening For BSc & MSc Life Sciences, Apply Online

Labcorp Contract Analyst Job Opening For BSc & MSc Life Sciences, Apply Online. MSc, BSc Life Sciences Contract Analyst II job at Labcorp. Interested and eligible applicants can check out all of the details on the same below

A few Interview Questions and Answers for the Contract Analyst II role at Labcorp are posted below

Contract Analyst II

Category: Business Development and Commercial

Location: Bangalore, India

Job Id: 2346905

Job Type: Full-Time

Essential Job Duties: 

• Perform contract management tasks on medium complexity projects, as assigned
• Serve as contract management lead for strategic accounts, as assigned
• Independently develop and review Agreements including Master Services Agreements (Covance multi-unit, single unit Client or single unit Covance templates)
• Lead negotiations for all assigned Agreements with moderate management support
• Develop and apply a working knowledge of the various Covance business units to insure proper contract terms for all types of studies
• Develop (including budgeting if required) and negotiate medium complexity Change Orders for assigned projects with management support
• Generate cash flow analysis and payment schedules for the above mentioned agreements in accordance with Contract Management guidelines for review by senior members of the department
• Follow up on outstanding contract issues for resolution to meet internal and external deadlines and to minimize business and legal risk
• Work cross-functionally with Contract Analysts, Client Services, Finance, Pricing and Sales to resolve contract issues in a timely manner
• Assist management and subject matter experts (SME) in maintaining harmonized contract processes and client relationships
• Participate in process improvement initiatives intended to improve global delivery of contracts
• Adhere to Contract Management policies and process
• Ensure Sarbanes Oxley compliance from a contracting perspective
• Perform accurate data entry into SFDC, Apttus, CMS and/or other tools required for reporting
• Provide accurate updates on all outstanding contractual documents to management as required through required systems or tracking mechanisms
• Assist/mentor junior staff including providing pre-submission review and approval of junior staff’s signature documents in accordance with the Contract Management review guidelines, as assigned
• Participate in project review meetings as necessary
• Other duties as assigned
• Flexibility to participate in meetings across various time zones outside core working hours
• Occasionally working extended hours in order to adhere to client deliverable timelines
• May be required to attend client meetings off-site as directed by management

Experience

• 4 years in the pharmaceutical or CRO industry preferred with a minimum of 2 years of contract management-related experience (or equivalent)
• Demonstrated ability to plan, multi-task, and prioritize
• Demonstrated teamwork, communication, and organizational skills
• Proficient in Excel and Word (intermediate)
• Demonstrated problem-solving skills
• Excellent customer service skills, attention to detail, and ability to be persistent while maintaining tact
• Proven ability to work independently
• Experience and comfort in a high-volume, fast-paced environment is essential
• Ability to negotiate

Education: Graduate/ Post Graduate from the Life Science Background  

APPLY ONLINE

Here are a few Interview Questions and Answers for Contract Analyst II
role at Labcorp:

1. Can you describe your experience with contract management in the pharmaceutical or CRO industry? (Answer: I have 4 years of experience in the industry, with 2 years specifically focused on contract management-related tasks. During this time, I have worked on medium complexity projects and served as the contract management lead for strategic accounts.)
2. How do you ensure that contract terms are appropriate for different types of studies conducted by Covance’s various business units? (Answer: I develop and review agreements, including Master Services Agreements, considering the specific needs of each project and business unit. I also work cross-functionally with teams like Client Services, Finance, Pricing, and Sales to ensure proper contract terms.)
3. Tell us about a challenging negotiation you have handled for a medium complexity Change Order. How did you approach it, and what was the outcome? (Answer: In one project, we needed to modify the scope of work due to unforeseen circumstances. I collaborated with management and subject matter experts to develop a Change Order that addressed the changes while staying within budget and timelines.)
4. How do you manage outstanding contract issues to meet deadlines and minimize risks? (Answer: I am proactive in following up on contract issues, ensuring timely resolution through effective communication with all stakeholders involved. This helps us meet internal and external deadlines while minimizing any potential business or legal risks.)
5. Can you share an example of a process improvement initiative you have participated in to enhance global contract delivery? (Answer: I actively participated in streamlining contract review processes, introducing standardized templates, and improving communication channels. These efforts resulted in faster contract turnaround times and better client satisfaction.)

Note: Answers provided above are just examples, and the candidate should tailor their responses based on their actual experience and achievements.

Editor’s Note: Labcorp Contract Analyst Job Opening For BSc & MSc Life Sciences, Apply Online. Please ensure you are subscribed to the Biotecnika Times Newsletter and our YouTube channel to be notified of the latest industry news. Follow us on social media like Twitter, Telegram, Facebook and Instagram.