Global Specialist, Commodity Pricing Optimisation

3 weeks ago

London, United Kingdom Diageo Full time

Job Description:
Global Specialist, Pricing Optimisation (Commodity Price Risk Management)

Location: London

Permanent

Closing date: 24/03/2023

As part of our Global Procurement team you'll play a pivotal role in not only contributing to performance but also building and protecting Diageo's reputation across our supply base. This involves delivering outstanding end-to-end value across our supply chain through our commercial leadership, offering innovative supplier solutions, and driving our sustainability agenda across our partners and suppliers.

There’s a rich variety of commercial challenges for you to immerse yourself in as part of the procurement team. We want services, partnerships and products that meet our needs today and tomorrow. We have high benchmarks for sustainability. And we want to be the best, in terms of the partnerships we foster and the results we deliver.

So this is about people as much as numbers. Building relationships internally, so you know what we need; and externally, so you know what can be achieved.

About this role

Diageo’s Commodity Price Risk Management (CPRM) Team is part of the Global Procurement organization. The CPRM function drives the identification, assessment and mitigation of commodity price risks across Diageo’s portfolio of commodities globally, including direct categories (i.e. grains, sugar and sweeteners, energy/utilities, aluminium and tin, and resins) and guidance categories that are non-exchange traded commodities (i.e. soda ash, corrugate/paper etc.).

This role will be a part of the Global Raw Materials & CPRM Team within Global Supply Procurement. This Specialist role is a direct report to the Global Category Director, Raw Materials & CPRM and has no direct reports.

This role is an entry role that presents the opportunity for future growth careers into more senior team CPRM Management roles.

This Specialist role shall:

- Be a valuable support role to our Global CPRM Managers, to enable the scope and value expansion of commodities led by the team, across Diageo’s global supply footprint.
- Working with Treasury and Finance teams to ensure smooth and accurate trade execution on exchange and or futures, swaps, options etc. Trade capture activity includes the trade and working with supporting finance / treasury teams on reconciliation activity.
- Ensure accurate reporting for all commodity positions, capture and exposures.
- Work closely with Counter parties such as banks / brokers and assist in managing relationships with key brokerage firms, in partnership with Treasury
- Collaborate with Diageo IT teams, finance and treasury to enhance ways of working through our Systems (eg Kiodex and SAP)
- Be responsible for supporting an experienced team of senior CPRM Global Commodity Price Risk Managers, in the development and execution of larger scale commodity risk management strategies, macroeconomic analysis, in addition to managing price risk for multiple smaller scale commodity categories.
- Provides support to the Global CPRM Managers, who employ the use of financial instruments (futures, options, and swaps) and dynamic supplier fixations to achieve best in class pricing, that meets the business’s risk appetite.
- Ensure compliance with Diageo’s CPRM Operating Mandate in association with CPRM Global Managers, Supply Planning, Treasury and Finance, and IFRS9 Hedge Accounting requirements.
- Participate in various Middle Office activities by reviewing position and risk reports in line with Diageo compliance requirements.
- Lead and support CPRM Global managers in providing market research across assigned commodity categories, using best in class price risk management techniques (i.e. Fundamental and technical analysis) alongside providing macroeconomic insights to support the various CPRM Strategies.
- Support key partner groups by running education sessions on CPRM ways of working and services, including Procurement teams.
- Support CPRM Managers in collaborating with Procurement Category Teams to embed and maintain Diageo standard hedging clauses within our supply contracts. Support the drafting of contract clause inputs from time to time
- Provide support to continuous improvement and simplification projects across key processes within CPRM and cross-functional teams.

About you

You’ll have strong analytical acumen and qualitative and quantitative research methodologies.

To be successful in role you will have Specialist experience in finance, banking, trading or commodity price risk management or equivalent experience within a commodity supply chain or financial institution.

Experience in Fast Moving Consumer and food sectors is greatly valued.

You will have an understanding of commodity markets, risk methods, financial instruments, and valuation techniques.

Experience within commodities across Agriculture, Metals or Energy, also greatly valued.

Experience or understanding of leading supplier contracts with the ability to embed new

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