Commodity Risk Manager

Chicago-Merchandise Mart

While professional experience and qualifications are key for this role, make sure to check you have the preferable soft skills before applying if required.

Blommer Chocolate Company (Headquarters)

222 Merchandise Mart Plaza

Suite 120

Chicago, IL 60654, USA

Description

Essential Duties and Responsibilities :

• Develop risk management function within the organization
• Design roles, rules, guidelines, policy and function as appropriate
• Implement necessary infrastructure and systems to monitor risk within the organization
• Operate within the core values of respect and care for others.

Risk Identification and Assessment :

• Conduct thorough risk assessments of raw material and other market-related risks, identifying potential threats such as price volatility, supply disruptions, regulatory changes, climate change, and geopolitical instability.
• Scope risk management includes optimization with sales, production, and inventory management.
• Profitability analysis in terms of daily or weekly purchase and sales contracts being made.
• Monitor trends, economic indicators, and industry news to identify emerging risk.
• Develop risk matrices and key risk indicators (KRIs) to measure and track risk exposure.
• Collaborate with procurement, operations, and finance teams to implement risk management controls and procedures.
• Develop and maintain relationships with insurance providers, hedging counterparties, and other risk management partners.

Risk Reporting and Communication :

• Capture all the sources of financial risk and set up systems to report the same on a real-time or daily basis.
• Prepare regular risk reports for management, highlighting key risks, mitigation strategies, and potential impacts.
• Communicate risk information effectively to stakeholders at all levels of the organization.
• Participate in risk management committees and working groups.

Business Continuity :

• Develop and maintain business continuity plans for cocoa-related operations.
• Conduct regular business impact assessments to identify critical processes and dependencies.

Compliance :

• Monitor and enforce compliance of risk controls within the organization.
• Ensure compliance with relevant regulations and industry standards related to cocoa sourcing, trading, and risk management.
• Stay informed about changes in regulatory requirements and their impact on the business.
• Educate key employees on the importance of risk management and broaden the understanding of risk within the company.

Physical Requirements :

General office environment with the majority of time using a computer.

Safety, Quality and Hygiene Requirements :

• Maintain compliance with all company policies, procedures, and code of conduct.
• Comply with workplace uniform requirements and safety gear when on the plant floor versus office.

Performance Expectations :

• Identify, evaluate, and manage risks the company could encounter.
• Gauge potential risks to the company through research and assessment.
• Conduct risk assessments, collecting and analyzing data, statistics, and reports.
• Develop contingency plans to ensure maximum risk control.
• Ensure the company meets the risk requirements while implementing the risk management framework.
• Evaluate existing risk management processes for improvements to achieve maximum risk control.

Skills and Work Experience Requirements :

• Proficient in financial modeling and analysis.
• Knowledge of VAR calculations and Monte Carlo type risk assessments.
• Ability to perform independent value analysis.
• Adept in risk management, preferably in the commodities or agricultural sector.
• Strong knowledge of the commodity markets, preferably with exposure to cocoa, soft, or dairy sectors including processing and trading.
• Ability to work effectively in a fast-paced, dynamic environment.
• Excellent communication and interpersonal skills, written and verbal.
• Proficient in Microsoft Office suite.

Desired Skills :

• Knowledge of hedging instruments and derivatives.
• Ability to understand the sustainability and ethical sourcing issues in the cocoa industry.
• Proficiency with risk management software and systems.
• Knowledge of calculating various types of financial risk including outright, basis, ratio, counterparty, and credit risk.

Education :

• Bachelor's degree in finance, economics, supply chain management, or a related field.
• Advanced degree (MBA or master's in risk management) preferred.

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