Job Title: Sr. Sourcing Manager – Commodities
- 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:
501 South Alta Ave
P.O. Box 37
Dinuba, CA 93618
Fax to (559) 591-1593
E-mail resume as a word attachment to: email@example.com
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.