Manager Procurement - Commodities & Risk
About The Position
The Commodity & Risk Manager drives the development of best procurement practices, including commodity risk management/mitigation, sourcing strategy definition, deployment, and stakeholder management (Directors and VPs) to maximize total value contribution and fuel the growth of LW. Drives the Procurement value contribution to Lamb Weston while ensuring compliance with policies, strategies, and processes. Maintenance of relationships with internal and external stakeholders, market analysis, supply and financial exposures and risk, and execution of mitigation strategies will be critical. Must maintain the ability to communicate with internal and external stakeholders clearly and concisely with a strong understanding of global ingredient markets, STP fundamentals, factory environments, and risk mitigation strategies. A successful candidate understands the Source to Pay (STP) process from the beginning to end as it pertains to direct material procurement: category and sourcing strategy development, negotiation, contracting, supplier management, and analysis. The role will be responsible for strategy implementation, negotiation and contracting within assigned categories.
Requirements
- Bachelor’s degree in Supply Chain, Business, or Finance required.
- 10+ years related experience in all aspects of sourcing processes, including agricultural commodity risk management, contract negotiation, and project management.
- Demonstrated success in people/team management
- Experience in Agricultural Commodity Risk Management and Trade Strategies to mitigate financial and operational risk, as specifically applied to vegetable oils, corn, wheat, dairy, natural gas
- Experience working with diverse executive leaders and proven ability to develop agreement of priorities
- Demonstrated interpersonal, verbal, and written communication skills to interact and consult with all levels in the business units as well as external suppliers.
- Ability to manage projects, work under pressure and meet agreed and often tight deadlines.
- Proven ability in building and managing strategic plans and annual budgets.
- Outstanding organizational, multi-tasking, and prioritization abilities; an excellent attention to detail.
- Excellent analytical skills, Excel proficiency, and familiarity with market analysis platforms (Eikon, Bloomberg)
- Highly motivated and ability to work independently and as part of the team.
- Strategic sourcing
- Commodity risk management
- Supplier selection and contracting
- Supplier relationship management
- Stakeholder influencing
Nice To Haves
- MBA or CPSM/ CPM certification preferred.
Responsibilities
- Manage strategy development, deployment, and strategic planning for Agricultural Commodity ingredients and inputs.
- Lead the development of long-term strategies (including physical commodity sourcing and financial risk strategies, supplier management strategy, and STP strategy) to meet regional and global business expectations.
- Manage alignment and deployment of global strategies and financial plans.
- Identify and manage connectivity of the Spend Tower with functional stakeholders, suppliers, and internal procurement teams.
- Manage stakeholder engagement and alignment throughout the end-to-end sourcing process.
- Develop risk mitigation and margin enhancement strategies and recommendations for purchased commodities.
- Calculate commodity exposure using cost models and stress tests for forecasted raw material purchases, oversee underlying risk exposure and monitoring process through various reconciliations.
- Create and maintain reports for category and market risk, trade activities, compliance documentation, and develop sensitivity dashboards including open volume impact on cost of goods sold.
- Ensure standardization of processes and tools in coordination with other Spend Towers.
- Coordinate delivery of assigned regional and global KPI’s.
- Be a point person responsible and accountable for delivery of goals for commodity procurement.
- Collect, manage, and report external market intelligence.
- Provide insights and report on commodity performance, trends, and forecasts.
- Monitor market dynamics and make coverage recommendations to optimize value in commodity markets.
- Analyze trends in commodity markets.
- Maintain physical and financial commodities positions in compliance with Commodity Risk Policy
- Other duties and responsibilities may be required and/or assigned as necessary.
Benefits
- Health Insurance Benefits - Medical, Dental, Vision
- Flexible Spending Accounts for Health and Dependent Care, and Health Reimbursement Accounts
- Well-being programs including companywide events and a wellness incentive program
- Paid Time Off
- Financial Wellness – Industry leading 401(k) plan with generous company contributions, Financial Planning Services, Employee Stock purchase program, and Health Savings Accounts, Life and Accident insurance
- Family-Friendly Employee events
- Employee Assistance Program services – mental health and other concierge type services
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What This Job Offers
Job Type
Full-time
Career Level
Manager
