Location : Zug, Switzerland

Summary:

As Commodity Risk Manager in Cocoa, your primary responsibility will be to manage our ~$1 billion cocoa hedging book, including the development of hedging strategies and the execution of these strategies via futures, options and OTC derivatives. Working under the supervision of the Director Procurement, Commodities, the job holder will continuously develop a wide network in the cocoa market, which combined with a strong knowledge of risk management tools and techniques, will drive competitive advantage for Hershey.

Summary of major duties:

Development of Hedging Strategies:

Using fundamental and technical analysis, develop risk management strategies incorporating the use of forward contracts, futures & OTC tools that:

• provides price visibility for Hershey in alignment with the company’s business plans
• reduces price volatility, especially across years
• ensures cocoa costs are in line or better than our main competitors
• optimizes HSY’s overall risk exposure across physical and terminal markets

Information Gathering and Market Intelligence:

Establish a strong network through regular connections with brokers, suppliers and other information sources to ensure advantaged market intelligence and insights, including:

• Supply and demand indicators
• Prices, differentials and ratios
• Financial market drivers

Work with Data & Analytics team to drive the ongoing development of the market data platform and price/crop forecasting models.

Develop and ensure timely reporting of key market information and insights; communicate with key stakeholder groups in an appropriate cadence and format.

Hedge Execution and Position Management:

• Drive execution of approved hedging strategies
• Actively manage the HSY cocoa position through the use of structure, options and other appropriate tools
• Develop and manage a process/tool to inform the Director Procurement Commodities, Cocoa of:
  • Outright and Structure position risk
  • PPV forecast and risk vs market and open Strategy levels

Financial Liaison for accounting and PPV purposes:

Liaise with Head of Business Management to ensure accurate and timely provision of key financial information relating to:

• Position Management
• Regular PPV reporting
• Forecasting and Scenario preparation
• Accounting/audit requirements

Requirements:

• Masters Degree in Supply Chain, Business, Economics or related field of study, or equivalent, required
• 5-10 years of relevant working experience in international commodity trade.
• Demonstrated skills and expertise in soft commodity derivatives, ideally cocoa.
• Knowledge of varied and complex supply markets and commodity sectors.
• Strong knowledge and experience of technical indicators, particularly in the context of commodities
• Build and maintain relationships with various market players.
• Ability to analyze and screen suppliers for financial, supply, and service capabilities.
• Solid personal presence with the ability to interact with confidence and credibility at all levels of the organization.
• Strong communication and collaboration skills. 
• Self-starter with high self-confidence level, high motivation and the ability to challenge and be challenged.
• Agile and flexible to changing demands and workload to ensure timely results.
• Able to work under pressure and balance risk.
• Knowledge of SAP and Microsoft Office (Excel, Word, PowerPoint): strong Powerpoint knowledge a must