Smuckers Orrville , OH 44667
Posted 2 weeks ago
Your Opportunity as the Senior Sourcing Manager, Commodity Risk Management
The Senior Manager, Commodity Risk Management (CRM) leads efforts to effectively manage and expand risk management initiatives across various functions to mitigate price risk, lock-in profitable margins and provide competitive pricing relative to key benchmarks. The Senior Manager CRM is responsible for ongoing management of the price risk for a commodity portfolio worth over $300M+ in annual spend. The position reports to the Vice President, Commodity Risk Management and is a critical member of the Commodity Risk Management team.
Location: Orrville, Corporate Offices
Work Arrangements: Hybrid, 30% in office expectations (Tuesday, Wednesday & Thursday on core weeks)
In this role you will:
Risk Management Strategy Design/Execution
Facilitate the development and execution of strategic hedge plans for assigned commodities
Deliver on all financial objectives with emphasis on cost favorability vs. budget and market.
Explore new areas of value creation and expand risk management initiatives for categories not currently managed
Commodity Market Research/Commodity Analytics
Become the SME for assigned categories
Develop monthly and long-range forecast for selected categories
Produce Weekly Commodity Review for selected categories
Lead cross-functional work related to selected categories
Proactively assess price risk by building analytical models based on fundamental supply and demand variables for all key commodities.
Create key commodity updates for SBA leaders, finance and sales
Support Finance team in building of commodity specific PPV reporting and cost accounting reports
Support CRM team with analysis work across multiple categories
Educate and mentor team members in CRM and the cash commodity team
Cross Functional Team/Project Work/Transformation
Drive cross functional awareness/alignment on hedging strategies
Lead/support Transformation Initiatives for assigned categories as appropriate
Lead/support Cross Functional projects related to assigned categories either for cost savings, BCP or other strategic goals.
Support procurement managers with cost reduction initiatives and optimization of inbound supply chains.
Governance/Compliance
The Right Role for You
We are bold, kind, strive to do the right thing, we play to win, and we believe in a strong community that thrives together. Our culture is rooted in our Basic Beliefs, and we believe in supporting every employee by meeting their physical, emotional, and financial needs.
What we are looking for:
Minimum Requirements:
Bachelor's degree
7 years of commodity experience (strategic sourcing & price risk management)
Proven experience with risk analysis and a complete understanding of futures, options, and OTC structures.
Strong ability to analyze commodity markets both fundamentally and technically
Ability to be highly analytical yet convey complex statistical models and market dynamics in a common-sense language.
Experience with Statistical Analysis or Modeling
Ability to think strategically and entrepreneurially, while keeping an eye on tactical execution.
Excellent interpersonal skills, including strong verbal and written communication skills.
Strong organizational skills, including ability to prioritize and attention to detail.
Self-motivated. Ability to get things done and prioritize in a dynamic environment
Strong negotiation/influencing skill with external parties and internal stakeholders
Ability to influence without authority and build positive relationships
Additional skills and experience that we think would make someone successful in this role:
Master's degree in related field
Agricultural commodity experience
Proficient in all the standard software and applications related to Procurement
Learn more about working at Smucker:
Our Total Rewards Benefits Program
Our Thriving Together Philosophy Supporting All Impacted by Our Business
Our Continued Progress on Inclusion, Diversity and Equity
Follow us on LinkedIn
#LI-Hybrid
#LI-JW1
Smuckers