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Contract Analyst - job 2 of 2

We anticipate the application window for this opening will close on - 15 Apr 2025


 

At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You’ll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.

A Day in the Life

We are seeking a detail-oriented and highly organized Contract Analyst to manage capital equipment agreements. This role is responsible for the full lifecycle of capital contracts, including reviewing and interpreting terms and conditions, ensuring accurate implementation into compliance management systems, and coordinating orders with relevant stakeholders. The Contract Analyst will monitor compliance, track contract performance, and maintain comprehensive documentation including standard operating procedures (SOPs). Additionally, this position supports internal teams by addressing inquiries related to capital equipment programs and contracts, ensuring alignment with organizational policies and regulatory requirements.

Responsibilities may include the following and other duties may be assigned.

  • Administers, extends, negotiates and terminates standard and nonstandard contracts.
  • Conducts proposal preparation, contract negotiation, contract administration, and customer contact activities to provide for proper contract acquisition and fulfillment in accordance with company policies, legal requirements, and customer specifications.
  • Examines estimates of material, equipment services, production costs, performance requirements, and delivery schedules to ensure accuracy and completeness.
  • Prepares bids, processes specifications, progress, and other reports; advises management of contractual rights and obligations; compiles and analyzes data and maintains historical information.

Must Have: Minimum Requirements:

  • High School Diploma or equivalent with 4+ years of relevant experience in Contracts or Pricing or equivalent experience (OR Associate's Degree with 2+ years experience OR Baccalaureate Degree with 1+ year(s) experience).

Nice to Have:

  • Experience with SAP/Tableu or Power BI/SQL/contract compliance management/Excel
  • Experience with Salesforce/CPQ

Physical Job Requirements

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position. 

The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role.

Benefits & Compensation
 

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create.  We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
 

Salary ranges for U.S (excl. PR) locations (USD):$64,800.00 - $97,200.00

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

The following benefits and additional compensation are available to those regular employees who work 20+ hours per week: Health, Dental and vision insurance, Health Savings Account, Healthcare Flexible Spending Account, Life insurance, Long-term disability leave, Dependent daycare spending account, Tuition assistance/reimbursement, and Simple Steps (global well-being program).

 

The following benefits and additional compensation are available to all regular employees: Incentive plans, 401(k) plan plus employer contribution and match, Short-term disability, Paid time off, Paid holidays, Employee Stock Purchase Plan, Employee Assistance Program, Non-qualified Retirement Plan Supplement (subject to IRS earning minimums), and Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).

 

Regular employees are those who are not temporary, such as interns.  Temporary employees are eligible for paid sick time, as required under applicable state law, and the Employee Stock Purchase Plan. Please note some of the above benefits may not apply to workers in Puerto Rico.

 

Further details are available at the link below:

Medtronic benefits and compensation plans

About Medtronic

We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people. 
We are engineers at heart— putting ambitious ideas to work to generate real solutions for real people. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary.

Learn more about our business, mission, and our commitment to diversity here.

It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.

If you are applying to perform work for Medtronic, Inc. (“Medtronic”) in any position which will involve performing at least two (2) hours of work on average each week within the unincorporated areas of Los Angeles County, you can find here a list of all material job duties of the specific job position which Medtronic reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of a conditional offer of employment. Medtronic will consider for employment qualified job applicants with arrest or conviction records in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.

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Average salary estimate

$81000 / YEARLY (est.)
min
max
$64800K
$97200K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Contract Analyst, Medtronic

Join Medtronic as a Contract Analyst in beautiful Santa Ana, California! If you're passionate about making a difference in healthcare and love the nitty-gritty details of contract management, this role could be the perfect fit for you. In your day-to-day, you'll manage capital equipment agreements, overseeing the entire lifecycle of these vital contracts. Your keen eye for detail helps you review and interpret the terms, ensuring everything aligns with compliance management systems and organizational policies. You’ll be the go-to person for internal teams, answering questions about capital equipment programs and helping to facilitate seamless contract negotiations. Imagine diving into proposal preparations, analyzing costs, and preparing bids while ensuring all activities comply with legal requirements and customer specifications. With your experience and a minimum of a high school diploma or equivalent, plus a few years in contracts or pricing, you’ll be able to thrive in this supportive environment that values your contributions. Medtronic isn’t just about contracts, though; it's about innovating in healthcare and making it accessible for everyone. Joining us means becoming part of a dedicated team that is uniting to tackle the biggest health challenges of our time. You’ll enjoy competitive compensation, a wide range of benefits, and a flexible workplace culture that places the well-being of employees at the forefront. Ready to make a significant impact? Step into a career where your expertise will be celebrated and where you can truly help to change lives!

Frequently Asked Questions (FAQs) for Contract Analyst Role at Medtronic
What are the responsibilities of a Contract Analyst at Medtronic?

As a Contract Analyst at Medtronic, you will manage the entire lifecycle of capital equipment agreements, which includes reviewing terms and conditions, negotiating contracts, ensuring compliance, and coordinating order processes with stakeholders. You'll also be responsible for monitoring contract performance, maintaining historical documentation, and preparing bids and reports.

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What qualifications do I need to apply for the Contract Analyst position at Medtronic?

To apply for the Contract Analyst position at Medtronic, you should have a minimum of a high school diploma or equivalent with at least 4 years of relevant experience. Alternatively, an associate's degree with 2 years of experience, or a bachelor's degree with 1 year of experience, is also acceptable. Familiarity with tools like SAP, Salesforce, and Excel can enhance your application.

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How does Medtronic support compliance management for contracts in the role of Contract Analyst?

In the role of Contract Analyst at Medtronic, you will actively ensure compliance with all company policies and regulatory requirements regarding contract management. This includes monitoring contracts for adherence to agreed-upon terms, documenting standard operating procedures, and addressing compliance inquiries from internal teams.

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What tools and software should I be familiar with as a Contract Analyst at Medtronic?

Familiarity with contract compliance management tools and software is beneficial for a Contract Analyst at Medtronic. Experience with SAP, Salesforce, Tableau, Power BI, and SQL can significantly enhance your capabilities in managing contracts and analyzing data effectively.

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What kind of team dynamics can I expect as a Contract Analyst at Medtronic?

At Medtronic, you can expect a collaborative and supportive work environment as a Contract Analyst. You will work closely with various internal teams, providing expertise on capital equipment programs and contracts, ensuring that your insights and knowledge contribute to the company's mission of improving healthcare for all.

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Common Interview Questions for Contract Analyst
What experience do you have in contract negotiation?

When answering this question, highlight specific examples of types of contracts you’ve negotiated, the outcomes of those negotiations, and any strategies you employed. Use metrics to demonstrate your success, such as how your negotiation saved costs or improved terms.

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How do you ensure compliance with contract terms?

Discuss your methods for monitoring contract compliance, such as regular audits, tracking key performance indicators, and maintaining thorough documentation. Mention any tools you use that help automate these processes to ensure nothing gets overlooked.

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Can you describe a challenge you faced while managing a contract and how you overcame it?

Use the STAR (Situation, Task, Action, Result) technique to describe a specific challenge related to a contract. Explain the situation, what your responsibilities were, the actions you took to resolve it, and the successful outcome.

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What systems have you used to manage contracts or data?

Be specific about the software systems you have used, such as SAP or Excel. Describe any relevant experience with contract lifecycle management tools and how you utilized these systems to enhance your efficiency and accuracy in contract management.

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How do you handle tight deadlines while managing multiple contracts?

Discuss your time management skills, such as prioritizing tasks and using project management tools. Provide an example that illustrates how you successfully met a tight deadline without sacrificing the quality of your work.

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How do you approach communication with stakeholders regarding contracts?

Emphasize your proactive communication style. Discuss how you keep stakeholders informed through regular updates, and how you ensure clarity on contract terms and expectations to prevent misunderstandings.

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What do you think is the most important skill for a Contract Analyst?

Mention skills such as attention to detail, analytical thinking, and effective communication. Explain how these skills contribute to successful contract management and ensuring compliance, and share examples of how you've applied them in your previous roles.

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Describe your experience with data analysis in relation to contracts.

Explain your experience with analyzing contract performance metrics and data trends. You might reference tools you’ve used for data analysis, such as Tableau or SQL, and how you've used data insights to inform contract decisions.

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How do you stay updated on changes in laws and regulations related to contracts?

Discuss your commitment to continuous learning, such as attending workshops, subscribing to relevant newsletters, or participating in industry forums. Mention any certifications or professional memberships that help you stay informed.

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Why do you want to work as a Contract Analyst at Medtronic?

Convey genuine enthusiasm for Medtronic's mission and values. Highlight how your skills align with the company’s goals and how you look forward to contributing to innovative solutions in healthcare.

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