Renewals Specialist I

The Role

The Renewals Specialist I owns the end‑to‑end renewal lifecycle, ensuring timely execution, pricing accuracy, and proactive contract and procurement planning across the customer base. This role partners closely with Customer Success, Sales, Legal, Finance, and customers to drive revenue retention, predictability, and long‑term customer continuity. The Renewals Specialist I plays a critical role in protecting recurring revenue by ensuring contracts are renewed on time, commercial terms are clearly understood, and renewal risk is identified and addressed well in advance.

What You'll Do

• Own the renewal process from initiation through execution for assigned accounts.
• Initiate renewal cycles 120–180 days in advance, aligned to contract terms, procurement timelines, and customer requirements.
• Manage all renewal notifications, quotes, approvals, and Salesforce updates to ensure accuracy and visibility.
• Conduct annual renewal reviews in partnership with Customer Success, ensuring timelines, scope, and commercial terms are clearly understood.
• Track and manage all contract expiration dates and renewal milestones to prevent lapses.
• Analyze active and legacy contracts to identify required updates, pricing changes, or structural improvements.
• Create and manage new Master Service Agreements (MSAs), service schedules, and amendments as older agreements expire.
• Partner with Legal to ensure contract language aligns with current commercial, product, and risk standards.
• Serve as a liaison between customers, Legal, and Customer Success on renewal terms, negotiation points, and required approvals.
• Support structured procurement and renewal planning, particularly for customers with formal purchasing or public‑sector requirements.
• Own renewal pricing execution, including price increases, discount management, and uplift strategy.
• Partner with Customer Success to assess renewal risk and develop mitigation strategies.
• Proactively manage delinquent renewals and collaborate cross‑functionally to secure timely execution and payment.
• Ensure renewal outcomes support broader retention, NRR, and revenue predictability goals.
• Work closely with Customer Success Managers to align renewal strategy with account health, adoption, and sentiment.
• Partner with Sales on expansion‑adjacent renewals and handoffs where growth opportunities are identified.
• Collaborate with Finance on billing alignment, forecasting, and revenue recognition considerations.
• Coordinate with Legal to streamline approvals and reduce cycle time without compromising risk posture.
• Maintain detailed documentation of renewal actions, owners, risks, and due dates.
• Ensure all renewal data is accurately reflected in Salesforce and related systems.
• Maintain accurate contract values, renewal amounts, uplift percentages, and term details for dashboards and reporting.
• Contribute to continuous improvement of renewal processes, templates, and playbooks to improve efficiency and predictability.

What You'll Bring

• Bachelor’s degree in Business Administration, Finance, Economics, Marketing, or a related field.
• 3-5 years of experience in renewals, account operations, deal desk, customer success operations, or commercial account management.
• Strong understanding of recurring revenue models, retention metrics, and renewal forecasting.
• Experience managing renewals across mid‑market to enterprise accounts, including complex contracts.
• Ability to read, interpret, and operationalize contracts, MSAs, amendments, and service schedules.
• Comfort partnering with Legal on negotiation points and contract revisions.
• Strong judgment balancing customer experience with commercial and risk considerations.
• High attention to detail with the ability to manage multiple renewal cycles simultaneously.
• Strong analytical skills to assess pricing, uplift, and renewal trends.
• Comfort working in Salesforce and related reporting tools; commitment to data accuracy.
• Strong oral and written communication skills.
• Ability to manage timelines, expectations, and follow‑ups across multiple stakeholders.
• Collaborative mindset with a strong sense of ownership and accountability.

Note: Due to the nature of our work with public safety agencies, this position requires compliance with the FBI's Criminal Justice Information Services (CJIS) Security Policy. Candidates must successfully pass a comprehensive, fingerprint-based background check. Please note that specific customer contracts may impose additional security verification requirements. Obtaining and maintaining all required security clearances is a condition of employment. For more information on CJIS security requirements, please visit the FBI's CJIS Security Policy Resource Center.

Versaterm is committed to fair and equitable compensation that is competitive, consistent, and aligned with the value each role contributes to our organization. The starting salary for this position will be dependent upon many factors, such as the successful candidate’s skills, experience, education, training as well as internal equity, market data, and business needs. In addition to base salary and our comprehensive benefits offering, some roles may also be eligible for variable compensation such as incentive plans or discretionary performance bonuses.