Last Updated on April 18, 2023 by Admin
Commercial managers are involved in contract negotiation, project planning, and risk management. Commercial managers coordinate commercial teams and collaborate with contract managers to resolve contractual and commercial issues. We have discussed here the commercial manager job description and salary details.
Commercial managers are also great communicators and strategic thinkers who develop plans that coincide with business targets. Their primary duty is to oversee expenses and revenue to create financial returns and business growth. This role can be very fast-paced and requires self-motivated candidates.
A Commercial Manager is in charge of business growth. They identify areas of the organization that can be expanded and developed. Commercial Managers also generate quotes for potential customers, manage contracts and hire vendors. Commercial Managers also manage relationships with clients and contractors.
This commercial manager sample job description can be used to help you create a job advertisement that will attract candidates who are qualified for the job. Feel free to revise this job description to meet your specific job duties and job requirements.
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Commercial Manager Job Purpose
The Commercial manager job description serves as a company leader, overseeing day-to-day operations and focusing on the long-term interests of the business. Pursues new business opportunities and manages functions such as company associations, employee activities and evaluations, and other matters related to a company’s operations. Plays an essential role in marketing or corporate management.
Commercial Manager Job Duties
- Commercial managers work for various organizations, which affects the exact duties they take on. Based on job listings we analyzed, a commercial manager’s responsibilities typically involve:
- Commercial managers build relationships with clients to establish new contracts. They also develop strong relationships with different departments within their company to ensure everyone is working toward the same targets and goals.
- Developing strategic plans to encourage business growth is a regular duty of commercial managers. They use analytics to create action plans based on data and statistics and interpret results against targets.
- Commercial managers develop product risk assessments and pricing structures to work toward commercial efforts. Financial planning and budgeting is an essential aspect of this job.
- Commercial managers are responsible for overseeing staff, suppliers, and contractors to ensure that deadlines are met. If issues arise with contractors, commercial managers work with them to resolve the problem as quickly as possible not to affect the schedule.
- Commercial managers make sure stakeholders adhere to and understand contractual obligations and determine when processes violate regulations. They assess risks and make recommendations based on analysis of all factors affecting a business situation.
Commercial Managers often have degrees in Business Administration or Business Management. A bachelor’s degree is usually required. Many Commercial Managers obtain certifications in Commercial Management, Supplier Relationship Management, Contract Management, and Procurement. Some certificates require previous experience in the industry, while others can be obtained while in school.
Commercial Managers usually have prerequisite skills or certifications, including Engineering Degree plus MBA in Finance, Marketing, or related fields.
- Proven leadership and management skills
- Strong communication and interpersonal skills
- Excellent project management skills
- Ability to delegate tasks and supervise others
- Extraordinary multitasking abilities and attention to detail
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Commercial Manager duties and responsibilities
Commercial Managers use project management and leadership skills to increase the sales of an organization. The commercial manager job description has the following responsibilities:
- Manage client relationships and identify opportunities for new contracts
- Analyze data and generate reports to identify potential for business growth
- Monitor local and federal regulations
- Bid on new projects and negotiate contract terms
- Recruit and oversee contractors and vendors.
Commercial Managers are often considered experts in their industries with years of experience. Many start their careers in entry-level positions and work their way up to Commercial Manager positions. Commercial Managers may also come from similar industries, transferring their skills as they learn more about their new sectors. This hands-on experience helps them better manage client expectations and contracts.
Commercial Manager Skills and Qualifications
Commercial managers are organized negotiators who are extremely motivated to hit targets and goals. Typically, employers require a bachelor’s degree in business, marketing, commerce, or a similar subject, as well as the following abilities:
- Commercial awareness – commercial managers should understand the state of the current market in their industry. They should be constantly updating this knowledge, which includes keeping up to date with the latest contract laws and regulations
- Mathematics – commercial managers often deal with administrative financial tasks, such as overseeing revenue, so they need good math skills
- Interpersonal skills – an important aspect of this job is developing relationships with clients and external points of contact, so commercial managers need great communication skills
- Teamwork – commercial managers typically work as part of a team and collaborate closely with other departments, so it’s important that applicants for this role have the ability to work well with others
- Time management – meeting deadlines for projects and tasks is key in this job, so applicants must be organized and able to manage their time effectively
Commercial Manager Salary
The average salary for a Commercial Manager is $71,449 per year. Commercial Manager salaries will vary depending on geographical location, and experience level.
Commercial Manager Salary In India: ₹780,134 Avg. Salary per year.