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Managing Risk Through the Contract Lifecycle: A Compliance Professional’s Perspective

In a recent webinar hosted by Seattle University School of Law, Kelli Rodriguez, Assistant Dean for Academic Affairs and Director of the Online MLS in Compliance and Risk Management program, sat down with alumna Virgie Mondragon, a compliance leader in aerospace, to discuss how organizations manage risk through the contract lifecycle.

Drawing from her experience in supply chain and contract management, Mondragon shared how contracts function in real-world settings.

Contracts as a Risk Management Tool

Mondragon was “drawn to supply chain because I enjoy aligning supplier strategy and resources with business needs to reduce risk and help the business enable growth.” She also mentors others to spot contract risks and build practical mitigation plans.

From a compliance perspective, contracts sit at the intersection of business goals, legal obligations, and operational realities. Effective contract management starts early, often in the initial drafting phase, and continues through negotiation, execution, and even amendments. Her role involves working with legal, finance, and operations to ensure contracts support business goals while staying compliant with state code and FAA (Federal Aviation Administration) regulations.

Where Risk Shows Up Most

“I view contracts from a risk perspective,” Mondragon says, “focusing on where obligations, liabilities, and controls meet the business goals.” While risk exists throughout the contract lifecycle, two stages consistently present the greatest exposure:

Drafting: Compliance risks rise when wording is ambiguous and interpreted differently by both parties. Drafting contracts can take years of back-and-forth communication.

Negotiation: Conflicting priorities, business pressures, and differing interpretations can extend timelines and increase risk exposure. Understanding contracts is not the same as being skilled at negotiating them; both are required to move agreements forward effectively and reach outcomes that work for all parties.

Translating Risk Across Teams

One of the most important and often overlooked skills in compliance is the ability to translate complex contract language into practical, business-focused terms. In her role within the aerospace industry, Mondragon regularly works with suppliers, many of whom may not have legal teams. This requires her to explain contract clauses in plain language and ensure all parties understand their obligations.

At the same time, she collaborates closely with legal, finance, and operations teams to ensure contracts align with regulatory requirements, including FAA standards. This cross-functional collaboration positions compliance professionals as a critical bridge between legal rigor and business execution. “I read the clauses and make sure it’s a win-win situation for both parties,” she says. “I translate objectives into specific outcomes.”

Mondragon describes her role as finding the middle ground between organizational standards and supplier needs. For example, negotiating payment terms often requires compromise, ensuring both the company and the supplier can operate effectively while maintaining compliance. This ability to manage trade-offs is what allows compliance professionals to support business objectives without increasing risk.

Building Skills Through the MLS Program

Pursuing the Online Master of Legal Studies (MLS) in Compliance and Risk Management was a strategic decision to deepen Mondragon’s understanding of legal concepts without becoming an attorney. Courses in regulatory compliance and contract law directly enhanced her ability to identify problematic contract language, draft clearer and more effective clauses, and communicate risk more confidently across teams. 

The legal research tools and structured legal thinking skills she learned in the MLS now support her day-to-day work and elevate her role within her organization. Seattle University’s top legal writing program was particularly instrumental in her success.

Build Your Expertise in Compliance and Risk Management

Compliance skills impact many industries, and there is a growing demand for professionals who can navigate regulatory environments and support organizational integrity. If you’re looking for job security, a career in compliance is a wise choice. 

Seattle University School of Law’s Online MLS in Compliance and Risk Management is designed to help you build that expertise so you can identify risk earlier, communicate more effectively, and contribute strategically across your organization. “I just want to let the students know that, if you join MLS, you’re on the right track,” Mondragon promises.

Learn more and take the next step in your career.

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