Commodity Risk Manager

Hours: 36

Salary: Competitive

Location: Shire Park, Welwyn Garden City, Hertfordshire AL7 1GA

United Kingdom

Apply by: 24/09/2021


Commodity Risk Manager

Shire Park, Welwyn Garden City, Hertfordshire AL7 1GA

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About the role

Are you passionate about commodities, retail and the economics of global supply chains?

This role will offer the chance to develop world class commodities expertise and exposure to and experience of working with the commercial buying teams at Tesco. You will develop analytical and communications skills whilst learning about the fundamental drivers of global commodity pricing and their part in manufacturing of FMCG goods.  

The Commodity Price Risk Management team at Tesco is at the leading edge of commodity risk within the retail sector. As a Commodity Analyst you will play an integral role in this team. The role provides a fantastic opportunity to grow in a fast-paced environment and help to reshape the way we work with suppliers, manage risk and drive efficiencies across the business.

The hiring manager for this role is David Cohen-Scali

You will be responsible for

  • Managing key agricultural raw material exposure (P&L, cover positions) and executing pricing strategy collaboration with Suppliers
  • Developing price risk management hedging strategies and market view based on market research, managing cover positions as well as P&L reporting
  • Provide Market Intelligence across category
  • Working with buying team, forecasting and managing my budgets effectively, to deliver commodity-led savings, as well as sales and margin targets
  • Developing and maintaining relationships with key internal and external stakeholders (traders, commodity house, suppliers, banks..)
  • Identifying best commodity risk management practice in the industry and suppliers
  • Building cost models linking retail procurement to commodity markets, and agreeing transparent ways of working with supplier partners.
  • Working with commercial, responsible sourcing and agricultural teams to support Tesco Sustainable Farming Groups (TSFGs) and environmental initiatives 
  • Adhering to all Tesco policies, storage and handover protocols and successfully completing all my training so that I have zero GSCOP breaches
  • Ensuring all agreements are recorded in writing, reporting GSCOP complaints to Legal within 48 hours of receipt, and leading a culture of compliance within my team
  • Following our Business Code of Conduct and always acting with integrity and due diligence

You will need

  • Agricultural commodity market knowledge
  • Buying and procurement experience within commodity sector
  • Developing a product area strategy
  • Understanding of country and global supply chain products
  • Negotiation skills
  • Supplier management experience
  • Stakeholder management skills
  • Data Analysis

Key People and Teams you will work with:

  • Buying Managers
  • Finance, Treasury
  • Sustainability and Agricultural teams
  • Suppliers, commodity suppliers, trading companies & industry analysts

Budgets you will be responsible for:

  • BFL Budget - tracking and ensuring reporting in Finance, and commodity governance reports

What’s in it for you

We offer excellent benefits that help make Tesco a great place to work.  These include but aren’t limited to:

  • Annual bonus scheme
  • Holiday starting at 25 days plus a personal day (plus 8 Bank holidays)
  • On-site state of the art gym at our Welwyn Campus with discounted “Gympass” membership & free health checks via Nuffield Health
  • Retirement savings plan - save between 4% and 7.5% and Tesco will match your contribution
  • Life Assurance - 5 x contractual pay
  • Share Schemes – Join our ‘Buy As You Earn’ & ‘Save As You Earn’ share schemes after 3 months service
  • Colleague Clubcard (including a 2nd card for a family member) after 3 months service
  • Colleague Discounts:
    • 10% increasing to 15% after every pay day for a four day period, off most purchases at Tesco
    • 10% off One Stop
    • 10% off pay monthly & SIM only deals with Tesco Mobile
    • 20% off all F&F purchases
    • 20% off car, pet and home insurance at Tesco bank. T&C’s apply
    • 25% off Tesco Café
    • 50% off complete glasses purchases & free eye tests (other offers available) at Vision Express
    • 50% off health checks at Tesco Pharmacy
  • An exclusive deals and discounts website saving you money on everyday purchases, treats for the family, eating out and utility bills for the home
  • Cycle to work scheme
  • Shuttle Bus Service to/from Welwyn Garden City Station to Welwyn Campus
  • Opportunities to get on - take advantage of our ongoing learning opportunities and award-winning training, to help you achieve the job and career you want
  • Our Employee Assistance Programme helps you deal with life’s challenges
  • Financial wellness - Tesco has partnered with experts to help you make the most of your money
  • Get involved in a range of fundraising activities with our long-term charity partners

About us

Tesco has become a market leader by doing the little things that really matter for our customers and colleagues. It is part of what makes Tesco such a great place to work!

We are the UK's number one retailer and we pride ourselves on offering a great shopping experience. We are passionate about our food, merchandise and services and will always try to get things right for our customers.

But did you know we also offer great job opportunities? With stores, distribution centres and offices across the UK, we have a vast variety of roles and we are always looking for people who have a hunger to work with customers and colleagues across our exciting business. We believe in treating each other with respect and giving everyone an equal opportunity to get on. It's our people that make the difference every day - helping us make a difference for our customers.

We are proud to have an inclusive culture at Tesco where everyone is welcome and truly feels able to be themselves. At Tesco, we not only celebrate diversity, but recognise the value and opportunity it brings to enable us to serve our shoppers a little better every day. We strive to create a workforce that reflects our customers not only here in the UK, but worldwide. Our aim is to attract and welcome a diverse range applicants from all walks of life, offering many varying working patterns across our business and we would love to hear from you!

 

It remains that Shire Park is our central location for Head Office teams. We have recently announced that we will be moving towards a more blended working week – combining office and remote working.  Our base will be the office, where we connect, collaborate and innovate – and there will be the expectation for everyone to be in the office more often than not. For Head Office roles we therefore expect colleagues to spend a proportion of their time at our offices in Shire Park.

 

We are supportive of colleagues having conversations with hiring managers about what office presence will look like in the context of the role.

 

NOTE: Should you be successful in your application, your offer will be subject to and conditional upon you providing your bank account details on your agreed start date.

Application process

Our office application process varies depending on the role and the level of experience needed.

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