CPRM Commodity Analyst

Job description

Flexible - see Job Description

Town/City

London, Park Royal 7HQ

External Job Description

Closing Date: Wednesday 31 st August 2016

Diageo, the world's leading premium Drinks Company and home to iconic brands such as Guinness, Captain Morgan, Ciroc and Johnnie Walker to name but a few - a business built on the principles and foundations laid by the giants of our industry, is seeking an experienced CPRM Commodity Analyst to join the London based team * .

About the Role

The purpose of the CPRM Commodity Analyst is to reduce Diageo's price exposure and volatility to global commodity markets by supporting the CPRM function with data handling and commodity market analysis. The successful candidate must support best in class risk management techniques using detailed market information, and flexible coverage levels to optimize our pricing of raw materials. They are also required to support on the use of futures, options and swaps to complement our fixed contracts in an effort to achieve best in class pricing while also improving our financial counterparty risk. Furthermore, the successful candidate is required to assist the team in sourcing raw materials in a manner that is sustainable, ethical and is in line with Diageo's commitment to reducing Carbon emissions.

*Please note location is flexible throughout Europe however preference for successful candidate to be based in Park Royal, London.

Key Responsibilities:

Governance

• Engage with both the Global and In-Market Procurement teams to ensure that all market and forecast data is accurate and received in a timely fashion and to hold the Procurement teams accountable for delivery.

• Ensure that the In-Market Procurement teams follows Diageo's CPRM Operating Mandate.

• Support the Price Optimization Managers to create, own and lead with their Global Pricing Strategies.

• Work with Treasury Middle and Back office to ensure compliance to all Diageo policies around Financial Derivative Instruments.

Risk

• Monitor the financial health and counterparty risk of our suppliers. Assure that the In-Market Procurement Teams abide by CPRM global policy on price and length of cover.

• Non-Compliance to hedge policy can lead to trades being deemed as hedge ineffective for accounting purposes.

Controls

• Abide by the risk and governance structure established by the Treasury department.

• Ensure that the Raw Materials Team and the In-Market Procurement teams adhere to the CPRM Operating Mandate

• Adopt Hedge Accounting policy for all Financial Derivative Instruments.

• Have robust systems in place (SAP, Reval) to ensure that all price, risks, and exposures are accounted for on a daily basis.

Audit

• Maintain appropriate evidence of all contracts and expenses.

• Track audit action steps and ensure that findings are remediated appropriately and in a timely manner

CPRM Analysis

• Ensure an accurate offline and systems based Open Position Report detailing all commodity positions and volume exposures

• Develop and maintain automated spreadsheets to capture key commodity market data and indicators from Reuters, Bloomberg and the CFTC Commitment of Traders report to support the POMs CPRM strategy decisions.

• Contribute to and publish the Weekly CPRM Commodities Report to a global Diageo audience providing Macroeconomic and Commodity specific insights.

• Support stakeholder engagement and provide backup as required for the POMs regular strategy calls with Global and In-Market Procurement teams.

Qualifications and Skills Required

• Educated to Degree level in relevant subject e.g. economics, finance etc.

• Previous experience within a procurement and/or financial environment

• Previous experience within blue-chip/fmcg organisation

• Extensive and thorough knowledge of data management

• Genuine interest in commodities and financial market

• First class communication and stakeholder management skills .