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

• Ensure full compliance with Smucker's Commodity Risk Management Policy, any other internal guidelines and external regulations pertaining to CRM activities

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

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