Head of Commodity Risk Management - Procurement

Date: 2 Feb 2024

Location: Hemel Hempstead, GB, HP2 4TZ

Company: Britvic

At Britvic we’re on a journey to become the most dynamic soft drinks company. As one of the UK’s leading players in the FMCG market we pride ourselves on setting high standards, being courageous and pushing ourselves to think outside the bottle.

 

About the Role:

This role forms part of the of the Procurement Leadership Team. It leads the functions approach to managing financial risk associated with Britvics procurement of Packaging, Ingredients and Indirect Goods and Services across Great Britain, Ireland France and Brazil.

Working collaboratively with Finance, Tax & Treasury and in accordance with Company Policy this role will lead and manage Britvics approach towards the financial risk management of commodities including: Aluminium, Plastics, Sugar, Juices, Fuel and Utilities.

 

The Head of Commodity Risk Management provides subject matter expertise to the Category Management Team in the areas of: commodity market analysis (S&D, price trends, technical market analysis and crop quality), the types and selection of financial instruments, and developing recommendations for managing risk.

 

This role is responsible for leading the Company’s risk management committee meetings and preparing all relevant documentation informing committee decisions and strategy relating to pricing, timing and coverage.

 

In collaboration with Finance, Tax and Treasury and in adherence to Company Policy this role is responsible for the execution of agreed risk management strategy and tracking and reporting performance. This role will also provide regular Commodity Market updates to key internal stakeholders.

 

In collaboration with Category Management Team, Finance, Tax and Treasury this role will recommend pricing decisions key commodities as part of LRP and annual business planning process.

 

Key Responsibilities:

The role reports to the Chief Procurement Officer.
Strong stakeholder engagement and relationships are integral to this role.

 

Risk Management:
•    Leading the analysis of commodity markets (S&D, price trends, technical market analysis and crop quality)
•    Identifying opportunities to implement risk management solutions
•    Managing commodity exposure for sourced raw materials and ingredients
•    Reporting on and tracking all commodity exposure 
•    Development Risk Management Policies with Finance and Treasury
•    Pricing of commodities and development of risk management strategies with Category Managers
•    Identifying and recommending use of instruments to manage financial risk
•    Execution of agreed risk management strategies
•    Tracking and reporting performance implemented risk management strategy
•    Recommend pricing levels LRP and annual business planning process
•    Developing commodity price tracking capability and providing updates in internal stakeholders.

Governance:
•    Development of governance structures with Tax and Treasury in accordance with Company Risk Management Policy
•    Lead Commodity Risk Management committee meetings and preparing all relevant documentation informing committee decisions and strategy relating to pricing, timing and coverage. 
•    Execute, track and report performance of agreed risk management strategies

Stakeholder engagement:
•    Internal and external champion for Commodity Risk Management 
•    Own commodity reporting process to all internal stakeholders 
•    Build network all relevant internal and external stakeholders


Knowledge, Skills & Experience Required:

Technical

•    Experience of managing portfolio commodities (experience of metals, plastics, fuel and soft commodities)
•    Extensive knowledge of financial instruments for risk management
•    Broad network of contacts with commodities / financial sector
•    Proven ability to build analytical and reporting tools
•    Category management experience and an understanding of procurement 
•    A good understanding of core procurement and sourcing processes 
•    Developed analytical skills use of access databases and advanced Excel.
•    Focus on continuous learning & development
•    A proven ability to multi-task effectively 
•    International experience & Languages an advantage

 

Non-Technical

•    Solid team member with ability to influence and shape discussion
•    Solid influencing and collaboration skills effective all levels of the Business
•    Comfortable embracing, communicating and leading change
•    Proven ability to inform and shape decision making
•    Ability to build relationship at all levels of the Business
•    Demonstrated success working in a cross functional team environment is essential  
•    Enthusiasm and a “can do” attitude, showing initiative and drive
•    Eye for detail, accuracy and effective time management
•    Self-starter with ability to work under pressure
•    Good presentation, verbal and written communication skills 

We believe we are stronger together and that’s why we’re committed to providing equal opportunities to all applicants and employees. We know that by building a truly inclusive environment where everyone feels celebrated, safe and respected - diversity and wellbeing will naturally thrive