Sr. Sourcing Manager – Commodities

Job Title: Sr. Sourcing Manager – Commodities

Principal Accountabilities

  • Ownership and responsibility for Commodity Risk Management programs including: futures, options, OTCs, forward fixed price contract execution, price forecasting and communication to senior management.
  • Compliance, reporting and other duties
    • Ensure full compliance with the Commodity Risk Management and Hedging Policy
    • Ensure full compliance with Procurement Policy and Conduct Policy
    • Ensure full compliance with any other internal guidelines and external regulations
    • Ensure full compliance and support to all on social, environmental and sustainability projects
  • Lead and direct the risk management strategy mitigating market inflation and providing accurate cost forecasts.
  • Develop hedging strategies that are based on fundamental economic analysis and implement within the context of tolerance for risk at the Company.
  • Provide guidance on which indexes to use in supply agreements to assist ingredient buyers in the development of price/cost models where appropriate with integrated suppliers.
  • Owns the Global commodity market outlook with the objective to increase value creation from managing market volatility and ensuring margin optimization.
  • Articulate the cash impacts of commodity hedging strategies including: Mark to market, Maintenance margins, etc.
  • Perform correlation and regression market analysis and propose contract positions to senior management.
  • Innovate risk management tools to enhance and improve costs and margins.
  • Analyze supplier and economic markets; identify and manage market risks and opportunities; identify and develop a supplier relationship management program with key supplier to improve the capability of our supply base.

Decision Making Authority and Impact

  • Procure the 200 million USD spend and sourcing of physical commodities such as wheat, soybean oil, cheese, eggs, pork, beef and poultry within the US.
  • Deliver value for money for Ruiz Foods given the dynamic commodity markets. Decisions in this area can significantly affect Ruiz Foods profit and/or cause the business to cut investment spending in order to cover cost pressures.
  • Supplier selection and business commitments for the portfolio of the annual volume, within the limits of Finance and the Quality.
  • Prediction of costs, to maximize accuracy and delivery of the business plan and P&L projections. Sets annual cost standards for all ingredients.
  • Make contractual commitments on behalf of the Company within the framework of the Limits of Authority.

Key Functional Skills/Knowledge

  • Risk Management (RM) experience in Agriculture futures and options market.
  • Strong Analytical, Planning, Market Research and Trade Execution skills
  • Forecast impact to P&L for multiple businesses and stakeholders including tracking variances to budget.
  • Ability to effectively negotiate and influence business decisions and change
  • Can work through tough agreements and settle disputes effectively
  • Ability to influence others not in direct span of control
  • Good interpersonal, team building, and conflict management skills

Required Experiences & Education

  • Bachelor’s degree in business, finance, mathematics, economics, supply chain, procurement, engineering or a related field.
  • Minimum 8-10 years of experience in in agricultural commodity price risk management and hedging (feedstock) within the Consumer-Packaged Goods (CPG) Industry
  • Experience in managing dynamic business environments, where price stability, supply availability, and potential business outcomes are under continuous pressure and change.
  • Experience in strategic sourcing including end to end strategy development.
  • Experience in productivity or related cost reduction programs
  • Experience in strategic negotiations including RFPs (Analysis and recommendations)
  • MS Excel, Word, and PowerPoint functional skills
  • Must be able to travel up to 10%+ of the time or as required by the business

Preferred Experiences & Education

  • MBA and/or equivalent years of experience
  • Proficient in ERP and MRP systems

How To Apply

Send Resume To:
Human Resources
501 South Alta Ave
P.O. Box 37
Dinuba, CA 93618
Fax to (559) 591-1593
E-mail resume as a word attachment to:

Ruiz Foods is an equal opportunity employer.
EOE: Male, Female, Vets, Disabled (M/F/V/D).
Ruiz Foods enforces a policy of maintaining a drug-free workforce, including pre-employment substance abuse testing.

El Monterey®, Tornados®, and Ruiz 4 Kids® are trademarks owned by Ruiz Food Products, Inc., registered in the United States and other countries. Artisan Bistro®, Three Bold Brothers™, and Not Your Nonna's™ are trademarks owned by Ruiz Brands LLC, registered in the United States and other countries, and licensed for use by Ruiz Food Products, Inc.