Restaurant Supply Chain Solutions, LLC, a Yum! Brands Co-op, is currently seeking a Manager to join the Commodity Risk Management Team in Louisville, KY.
Overview of the Position:
The Manager of Commodity Risk Management is a critical role within the RSCS Commodity Risk Management team that manages $3.7 billion of commodity risk management spend for the Yum! Brands system (Taco Bell, Pizza Hut, KFC & Habit Burger Grill) along with A&W restaurants. The Manager leads efforts in reporting risk management positions and manages various functions to mitigate price risk, lock-in profitable margins and provide competitive pricing relative to key benchmarks. Participation in key system wide projects and analytical assessments of various commodity markets, supply chain initiatives and government policies are a key function of this role. The position reports to the Sr. Director of Commodity Risk Management.
- Deliver key financial objectives:
- Lead key commodity categories and collaborate with all stakeholders to deliver ingredient margins favorable to targets and to manage ingredient cost favorable to market benchmarks.
- Favorably manage the cost of goods sold (COGS) inflation compared to benchmarks by using analytics and key market fundamental and technical information.
- Lead the commodity risk management categories for canola oil, soybean oil, secondary oil and secondary wheat as well as collaboratively provide input on other key commodities hedged within the team. Category ownership includes:
- Directing the category risk management program with all suppliers by coordinating hedge strategies, risk management tools, volumes and hedge adjustment into product pricing.
- Managing the order entry functions for all directly managed commodities, including basis and mill-feed credits for wheat-based products.
- Proactively being responsible for maintaining accurate and timely data inputs into the RSCS Planning and Risk Integrated Supply Management (PRISM) system that tracks commodity positions and the cost of goods sold.
- Proactively assess price risk by building analytical models based on fundamental supply and demand variables for all key commodities.
- Validating commodity risk management positions are reflected in the cost bars communicated to buyers by suppliers.
- Being the category expert on canola oil, soybean oil, secondary oil and secondary wheat risk management along with other commodities as assigned by the Sr. Director of Commodity Risk Management.
- Proactive leadership of categories and technology:
- Utilize the PRISM system to maximize the profitability of RSCS members by analyzing data and utilizing advanced analytics to ensure accurate ingredient cost.
- Input all commodity risk management data into the PRISM system and ensure accuracy.
- Create commodity market communications for the board of directors and internal stakeholders that provides updates on commodity market price direction, strategies and the impacts to the COGS.
- Facilitate the development of strategic hedge plans, which includes thoroughly studying statistical correlations and risk associated with hedging in various markets.
- Utilize Excel to compile, sort and analyze large sets of data to deliver savings to stakeholders. Advanced Excel skills preferred.
- Create timely and accurate monthly Hedge Summary reports.
- Lead or participate on special project teams, as needed.
- Requires travel – 5% to 10%.
- Candidate will be a leader of WC2 values and proactively drive business solutions based on the following expectations:
- Uncompromising adherence to being honest, truthful and ethically strong at all times.
- Ability to garner trust and respect of all constituents, while managing tight timelines in a dynamic environment.
- Ability to make decisions
- Ability to develop and make strategic solution decisions with partial information and during volatile time periods.
- Ability to think strategically and entrepreneurially, while keeping an eye on tactical execution.
- Candidate will have an extremely high level of ambition and motivation for success, will be solutions oriented, results driven and a self-starter.
- High technological proficiency and strong willingness to embrace new and efficient analytical initiatives.
- Breakthrough results
- Candidate will have the innate curiosity to use data to make decisions and will be able to lead and influence.
- Candidate will embrace change and new technologies to drive results.
- High expectations of stakeholders
- Ability to be highly analytical, yet convey complex statistical models and market dynamics in a common-sense language.
- Comfortable working in a fast-paced environment with the ability to shift gears quickly.
- Strong organizational skills, including ability to prioritize. Flexibility and adaptability to change is crucial.
- Candidate will promote and champion the RSCS World Class with Class Values (WC2) by acting with integrity, delivering breakthrough results, being transparent & collaborate, recognize & celebrate, being humble & respectful, serve our members and pursue growth & lifelong learning.
- Experience & Education
- Minimum of 2 to 5 years of experience in a position related to agricultural commodity risk management. Prefer experience managing vegetable oil or grain commodities.
- Experience with risk analysis and a complete understanding of futures, options, and OTC structures.
- Excellent interpersonal skills, including strong verbal and written communication skills.
- Bachelor’s degree required with emphasis in Agricultural Economics or strong understanding of agricultural markets. Master’s or MBA preferred.