Innovations Governance and Contract Compliance Associate

Cleveland Clinic

1d•Onsite

About The Position

At Cleveland Clinic Health System, we believe in a better future for healthcare. And each of us is responsible for honoring our commitment to excellence, pushing the boundaries and transforming the patient experience, every day. We all have the power to help, heal and change lives — beginning with our own. That’s the power of the Cleveland Clinic Health System team, and The Power of Every One. Join Cleveland Clinic’s Main Campus where research and surgery are advanced, technology is leading-edge, patient care is world class and caregivers are family. Here, you will work alongside a passionate and dedicated team, receive endless support and appreciation, and build a rewarding career with one of the most respected healthcare organizations in the world. As an Innovations Governance and Contract Compliance Associate, you will monitor the full spectrum of license agreements across Innovations operations to ensure compliance with diligence requirements and financial terms. In this role, you will support and monitor the governance of Cleveland Clinic Innovations (CCI) spin-off companies in alignment with senior leadership while also supporting the CCI Ventures team by helping ensure operations, investments and internal processes adhere to legal, regulatory and corporate standards. A caregiver in this position works days from 8:00 a.m. – 4:00 p.m.

Requirements

Bachelor’s degree in business or a related field and five years of experience OR Law Degree (JD) and two years of experience
Critical thinking skills, decisive judgment, and the ability to work with minimal supervision
Strong ability to communicate technical requirements to internal teams and high-level stakeholders
Exceptional attention to detail for managing large volumes of documentation

Nice To Haves

Relevant experience in compliance, accounting, finance, contracts, or law

Responsibilities

Monitor Cleveland Clinic spin-off company agreements and work closely with CCI Ventures, Business Development & Licensing (BD&L), Finance, and Development teams to ensure compliance with terms.
Manage governance of CCI spin-off companies, including maintaining corporate records, drafting spin-off company related documents and agreements, and preparing minutes from board meetings.
Maintain board and committee documentation, prepare agendas, minutes, and resolutions for investments.
Act as a liaison between CCI and the Law Department for Ventures, Technology Development, BD&L agreements, and general contracts for CCI. This includes drafting contracts, submitting agreements to the Law Department for review, and working with both the Law Department and the CCI business lead to make sure that contracts are reviewed timely, finalized, executed, and recorded properly.
Provide monitoring and manage reporting to internal and external stakeholders on commercialization grants.
Manage Ventures team Executive-in-Residence (EIR) program, including overseeing diligence on potential program members and the contracting process for accepted members.
Assist in preparing quarterly Ventures portfolio report for distribution to the Innovations Investment Committee.
Perform due diligence on potential deals, investments, and new portfolio company opportunities.
Meet regularly with CEOs of Cleveland Clinic spin-off company agreements to check in on contracts and open items and coordinate CEO review process.
Prepare status reports for executed agreements with fields important for Innovations business operations, including upcoming milestones, missed milestones, missed reports, missed payments and agreements that are terminating in the next 365 days.
Monitor and ensure compliance with applicable laws and regulations.
Perform risk assessments to identify potential legal, regulatory, or operational risks and suggest mitigation strategies.
Prepare and file reports required for state and federal government awards and programs.
Assist in drafting, updating, and enforcing internal policies, and standard operating procedures (SOPs).
Complete initial review of development and diligence reports for licenses.
Track timing and amount of milestone payments due to Cleveland Clinic for both budgeting and compliance purposes.
Follow up on any milestone payments not received with both internal and external contacts.
Responsible for any database management including entry of information on licenses and other agreements and keeping company records up to date.
Participate in implementing any database updates or conversions related to Ventures or licensing agreements.
Work to automate reporting to the extent the current database will allow.
Complete regular audits of data to ensure accurate information is reflected in database.
Identify and recommend process improvements focused on saving time while maintaining compliance integrity.
Prepare summary of IP tied to specific agreements when requested.
Work with the finance team to ensure that finance team is invoicing for amounts due under the agreements executed.
Work with the Ventures team to communicate license/IP status and key deliverables for Venture portfolio companies and assist with any follow-up items.
Complete other tasks in the analysis of agreement compliance and financial performance.
Provide support for the CCI Compliance Committee.
Other duties as assigned.