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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