ICE CREAM – Manager Commodity Risk Middle Office

Note: Deadline for applying is 23.59 the day before the Job Posting End Date.

UNILEVER IS LOOKING FOR AN ICE CREAM – Manager Commodity Risk Middle Office

Location: The Netherlands (Amsterdam)

Full-time: Yes

Local conditions apply  

For the recruitment of this position, we would like to emphasize that local conditions apply to the position and for this vacancy in principle we will consider candidates based in the set locations. If you are based outside of these locations and you are interested to apply, please feel free to do so but at this stage we will not take your application forward. We will only consider your application if a decision is made to also recruit outside of the set locations.

The Ice Cream division at Unilever is preparing to stand on its own, aiming to become an independent, EUR 8.3 billion publicly listed company by the end of 2025. We’re on a mission to create the ultimate snacking company.​ A place where growth, innovation, founder and ownership mentality, and performance are cultivated and rewarded. And where we craft extraordinary ice cream experiences - transforming ordinary moments into lasting memories.​ Because we know, life tastes better with ice cream.​

The Magnum Ice Cream Company is all about growth. Growing our business. Growing our customers’ businesses. Growing our people’s careers.​ Growth begins with empowerment. So we free our people to be innovative, responsible entrepreneurs, driven and equipped to give our consumers more amazing products and unforgettable moments – and having fun doing it.​  

With 19.000 expert ice cream colleagues and iconic brands like Wall’s, Cornetto and Ben & Jerry’s, loved in 76 countries, we are the world’s largest Ice Cream company leading the industry.  We have been taking pleasure seriously for more than 100 years, serving happiness with every lick or scoop of ice cream for generations.  

We are investing to unlock the full growth potential of The Magnum Ice Cream Company as a standalone entity, once we separate from Unilever, which is planned to happen before the end of 2025.  

We dream big but keep things simple to act fast.​ 

If you want to grow with us, make an impact, and shape the future of Ice Cream, this is the place for you! 

JOB PURPOSE

We are looking for a process & compliance  focused  and experienced  Manager to lead our Commodity Risk Management Middle Office (CRM MO) operations. Commodity Risk Management is of paramount important to our business and will be the key point of contact for Business Stakeholders and Senior Leadership Team

As the Ice CRM MO Manager, you will play a pivotal role in managing our CRM MO operations, ensuring E2E oversight and accountability. 

You will be responsible for ensuring the determination of and ongoing oversight of CRM Operations  :

Validation that all proposed hedges meet Hedge Accounting Requirements ( IFRS9)Maintaining documentation of all hedge relationships – underlying exposure and proposed hedge instrument Oversight of all commodity risk   and position limits and processes  with regard to  internal policy  and external agencies requirements  – FCA, US CTFS and key commodities exchanges Ensuring the FRONT Office Traders execute and captures trades in line with policy and external requirementsPerformance reporting to risk committee and senior business stakeholders Assisting with Month-end and Quarter valuations and key messages to Stakeholders

KEY RESPONSIBILITIES:

Managing Treasury Middle Office CRM Activities:

Daily Cover reports and market to market reporting Oversee commodity demand forecasting process Oversee Front Office trade execution and closing activites and ensure transactions are captured in timely and correct manner and respect TMICC risk limits and plicies. Oversee daily position report and  margin reconciliation Month end Valuations E2E Risk controls and compliance for commodity hedging operations.

Main Accountabilities:

Achieve zero tolerance to error in settlements, confirmations, and accounting of Commodity  transactions.  Maintain zero open items in daily reconciliations of ISDA and Exchanged related commodity transactions.  Complete all audits with zero non-conformances for internal, external, and SOX audits.  Ensure T|MICC meets all internal policy and external accoutinga nd regulatory requirements and enforce a ZERO tolerance reporting approach for violations. Oversee Daily margin and credit usage  reconciliation for exchanged traded instruments and or ISDA- OTC transactions. Reporting of commodity hedge performance and covers  as well as ensuring the drawdown limits and credit policies are respected. Resolve open queries with operating counterparties and the in-house bank.  Continuously improve processes to enhance efficiency and accuracy. 

WHAT YOU NEED TO SUCCEED: 

Experiences & Qualifications

• Minimum 5 years of experience in a middle office and control role for commodities at either a bank, corporate treasury ( i.e.  consumer goods) , trading house or investment fund in a SOX environment.

• Understanding of hedge accounting IFRS9 (preferred) and or US GAAP (FASB 812)

• Understanding of key compliance and reporting requirements of commodities exchanges, US, UK and EU (soft) commodity derivative regulations.

• Experience holding traders ( front office) accountable for internal risk limits and processes.Proficiency in MS Excel, Power BI and MS PowerPoint. 

• Strong stakeholder management skills. 

• Self-driven with the ability to translate vision into actions. 

• Experience working in a complex environment with global stakeholders. 

• Professional qualification of CA/MBA; additional CFA qualification preferred and other certification for Middle Office / Back Office operations (example, NY Institute of Finance and or equivalent training resulting in a certificate)

• Candidates without formal certification but with extensive experience ( 7+years) should also apply

• Experience preparing key information on CRM operations & impact  for Investor Relations an asset

Must have competencies

• Ability to provide strong oversight of CRM operations and hold teams ( including Sr Stakeholders) accountable for compliance with internal policies and external regulatory and accounting requirements and drive a ZERO non-compliance approach

• Ability to optimize and implement E2E processes to ensure compliance and effective risk reporting in a timely manner.

• Familiarity with US CFTC reporting limits and submissions requirements for large traders

• Understanding of Exchange for Related Positions (EFP , EFS ) processes on both ICE and CME trading venues and underlying compliance and documentation requirements.

• Strong business partnering skills with a service mindset. 

• Ability to develop robust processes and apply professional knowledge effectively. 

• Analytical and problem-solving skills with the ability to interpret data from various sources. 

• Assertive, proactive, and willing to learn and teach within the team. 

• Ability to work under pressure and meet strict deadlines. 

• Quick decision-making in emergency situations. 

• Experience in implementing and or upgrading a CTRM system an asset, but not essential

WHAT IS IN IT FOR YOU?

Unilever is the place where you can be yourself and bring your purpose to life with the work that you do – creating a better business and a better world. We offer an exciting & dynamic work environment where you can make things happen. Furthermore, we offer some great reward and benefits!   

• Attractive total remuneration package; excellent company pension, bonus and share scheme.  

• Flexible cross-disciplinary career opportunities and a wealth of training opportunities & wellbeing resources whenever and wherever.   

• Plenty of company-paid holidays to further ensure your work-life balance is maintained.   

• We encourage an inclusive culture, which comes to life with interchangeable public holidays, paid paternity leave of 6 weeks and our transgender policy.   

• Under the Hybrid Working principles, you will be expected to spend a minimum of 40% in the office or at customers, suppliers or partners to connect and collaborate.  For the time you work from home, we will ensure you are well equipped. When you are at the office, you can enjoy our tasty canteen with prepped food and own products. 

• Informal culture and being the first one trying our new products.    

• My Fitness Plan (reduction on your Fitness Subscription).  

• Home work allowance 

• Company laptop and mobile phone 

• Green Mobility Policy 

EXCITED?

Join Unilever and our team! To apply, you must do so online. Please do not forget to upload your CV and a motivation letter.  Your application will be reviewed against our requirements, and we will be in touch shortly after the closing date to provide you with an update on the status of your application.  

Looking forward to meeting you!    

Please note this is a Direct Search led by Unilever. Applications from agencies will not be accepted, nor will fees be paid for unsolicited CVs.   

Equal Opportunity Employer: Unilever is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regards to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, disability, age, parenthood, pregnancy or any other basis protected by applicable law, and will not be discriminated against.

By highlighting the gender diversity at the workplace, Unilever encourages women equally men to apply. If you look for a job after a long career break or after any type of leave, do not hesitate to apply.

NOTE: Please save a copy of this vacancy for personal use as it will disappear from the website after closing of the role.