Sr Paralegal, Contracts

Valley National Bank • Morristown, NJ • 5h ago

Responsibilities include but are not limited to:- Oversee the complete lifecycle of contracts from intake of requests, through negotiation support, approval, final signature, and contract distribution/storage. Ensure each stage is completed in a timely and compliant manner.- Review a variety of contracts, including vendor contracts, NDAs, service agreements, and amendments. Pay special attention to key clauses (e.g., indemnification, liability, confidentiality, termination) to ensure they are accurately tracked. Highlight and escalate any deviations or unusual terms to attorneys for further review.- Coordinate the internal approval process for contracts, ensuring all necessary stakeholder reviews (e.g. business approvers, finance, risk management) are obtained in accordance with company policies. Once approvals are in place, manage the signature process to obtain all required signatures (wet ink or electronic) from both internal authorized signatories and external parties. Verify that fully executed copies are received for organizational records.- Maintain and update the centralized contract management system/contract database with current contract information, such as key terms, parties, effective dates, renewal dates, and termination dates. Ensure that all executed contracts and related documentation are accurately logged, stored, and easily retrievable.- Track critical dates and periods for each contract (renewal notice windows, expiration dates, etc.). Proactively notify the Legal team and business owners of upcoming renewals or termination deadlines.- Assist in preparing renewal agreements or termination notices, and ensure proper documentation of any changes in terms or the conclusion of agreements. Serve as a liaison between the Legal Department and internal departments (such as Procurement, Third Party Risk Management, and business units) for contract-related matters.- Ensure that all contract activities follow the company's internal Contract Management Procedures and any relevant regulatory guidelines. This includes making sure that high-risk or high-value contracts receive necessary legal review and that executed contracts are archived according to policy.- Maintain and improve standard contract templates and clause libraries, incorporating lessons learned and best practices to streamline future contract preparation. Work with attorneys to update templates for compliance with new laws or corporate policies. Additionally, identify opportunities to optimize the contract management process (for example, improved use of the CLM software) and assist in implementing enhancements.- Provide guidance and/or training to legal staff and business colleagues on contract lifecycle processes and use of the CLM tools. Assist in creating quick reference guides or conducting informal training sessions for stakeholders on how to submit contracts for review or how to use electronic signature tools and contract databases effectively.Valley National Bank is an Equal Opportunity / Affirmative Action Employer. All qualified applicants are encouraged to apply, and will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or other legally protected characteristics, and will not be discriminated against on the basis of disability.

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