Commodity Manager

Are you passionate about commodities, retail and the economics of global supply chains? We have a unique opportunity to join our team here at Tesco as a Commodity Manager. The Commodity Price Risk Management team at Tesco is at the leading edge of commodity risk within the retail sector. 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.

This role will require the successful candidate to have strong buying and procurement experience within the commodity sector, evidence of developing a product area strategy and an understanding of country and global supply chain products.

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 solutions based on market research, managing cover positions as well as P&L reporting
• Develop Market Intelligence across key commodity markets
• Develop and lead Data Science programme (Price and S&D forecast) across key Commodities
• Lead Macro intelligence Research
• Working with buying team, forecasting and managing budgets effectively, through commodity cover strategy
• Developing and maintaining relationships with key internal and external stakeholders (traders, commodity house, suppliers, banks..)
• Identifying commodity risk management best practice in the industry and suppliers
• Identifying Commodity risk and developing partnership models and 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 training so that there are 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 the team
• Following our Business Code of Conduct and always acting with integrity and due diligence

You will need:

• Commodity market knowledge
• Buying and procurement experience within the 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
• Data Science and Technology

Budgets you will be responsible for:

• Tracking and ensuring reporting in Finance, and commodity governance reports

What’s in it for you?

We’re all about the little helps. That’s why we make sure our Tesco colleague benefits package takes care of you – both in and out of work. Annual bonus scheme of up to 20% of base salary, holiday starting at 25 days plus a personal day (plus Bank holidays), private medical insurance, 26 weeks maternity and adoption leave (after 1 year’s service) at full pay, followed by 13 weeks of Statutory Maternity Pay or Statutory Adoption Pay, we also offer 6 weeks fully paid paternity leave, free 24/7 virtual GP service, Employee Assistance Programme (EAP) for you and your family, free access to a range of experts to support your mental wellbeing.

About Us

You might know us as a supermarket, technology company or even for our award-winning mobile network. Truth is, we’re all of those things, and much more. Our colleagues work with one goal in mind, helping to make every day a little better for our customers, colleagues and communities all over the world. No two customers are the same, neither are our colleagues.

At Tesco, we champion a balance that lets you thrive both in and out of work. Spend 60% of your week collaborating with colleagues at our office locations or local sites and the rest remotely. Whether you’re just kicking off your career, juggling passions, or navigating big life events, we’re here to support you. We always welcome a conversation about flexible working, so talk to us throughout your application about how we can support.

We’re proud to be an accredited Disability Confident Leader, where everyone’s welcome. That’s why we commit to providing a fully inclusive and accessible recruitment process. If you need support with your application, click here for more information. And if you’re interested in joining our team but don’t tick every box, don’t let that hold you back from applying.