Cocoa Risk Manager

About the role

The Cocoa Risk Manager plays an important role in the cocoa price risk management for Barry Callebaut. He/She is hedging all potential Cocoa related risks (Futures, Ratio, Differential, Market structure …) for the full chocolate business region of Europe (ESC) in line with directives of the Sourcing Director Europe. ESC is the European Supply Company for chocolate and consists of 8 chocolate manufacturing plants located in Belgium, Italy, UK, France, Serbia, Poland and Spain.  The Cocoa Risk Manager role is crucial to safeguard and enhance the profitability of Barry Callebaut.

He/She is responsible to supply all of the ESC chocolate manufacturing entities in Europe with the right contracts for cocoa materials, on the right period at the best possible price to make sure Barry Callebaut can keep producing the desired chocolate at a competitive price.

The Cocoa Risk Manager supports overlooking the credit management book (Sustainability programs & premiums) and makes sure Barry Callebaut is fully complying to the requirements and rules of e.g. RainForest Alliance and Fair Trade. He/She is in the center of the Barry Callebaut organization and cross functionally collaborates and openly communicates with all relevant stakeholders internally (CSD, Global Cocoa Sourcing and Trading, Sales, Pricing, Finance & Controlling, QA, …) but also externally (direct contact with customers).

He/She has its own customer portfolio and is required to understand the customer needs to build a trusting partnership. It’s expected to advise and guide these customers on market price trends and covering strategies to follow. Furthermore, negotiations with big open book customers on pre fixing of cocoa raw material prices is also a part of the job.

The Cocoa Risk Manager reports into the Sourcing Director Europe and supports him/her in the risk management of a cocoa bean equivalent need of 515.000 mT (need for total chocolate sales out of Europe). This entails the sales of 500 different cocoa SKU’s and a total value of 2.75 billion EUR (depending on market price).  He/She is contributing to create and safeguard a yearly additional value for BC, represented by the cocoa trading profit (e.g. 90 Mio CHF in FY22-23; 80 Mio CHF in FY23-24 and 53 Mio CHF in FY24-25).

Key responsibilities include

• Daily management and calculation of the Cocoa Risk Position for Chocolate business within Europe (representing a 515.000 mT bean equivalent). Follow up and take educated decisions in line with the directives of the Sourcing Director Europe. Be able to take own decisions in case of urgency or absence of directives.
• He/She is contributing to create and safeguard a yearly additional value for BC, represented by the cocoa trading profit (e.g. 90 Mio CHF in FY22-23; 80 Mio CHF in FY23-24 and 53 Mio CHF in FY24-25).
• Operate within the by Group Risk pre-defined risk limits (-3.000 mT to 3.000 mT Bean Equivalent risk, -6.000 mT to 6.000 mT Differential risk, -3.500 mt to 3.500 mT Butter risk and -3.500 mT to 3.500 mT Powder risk).
• Daily follow up and calculation of the unrealized and realized Trading Profit, adjust and remediate potential risks/margin leakages and look for opportunities.
• Actively manage the Physical Cocoa book to make sure all 8 chocolate production plants within the ESC receive all the needed purchase contracts for cocoa materials, in the right volumes on the right period at the best possible price. On a daily basis ensure together with the team the correct bookings, fixations and follow-up in order to keep our purchase contracts in good conditions, take intermediate actions in order to remediate and clear issues that stand in the way of correct and timely cocoa raw material deliveries to ESC factories.
• Daily interest and follow up of market dynamics and changes including Cocoa Futures market, Cocoa butter ratio’s and bean differentials.
• Follow up and proper execution of the Futures book(s) and settlements.
• Supports in management of the full ESC Europe Certified Cocoa position (sustainability), being equal to a bean equivalent cocoa volume of 205.000 mT with a certification premium value of up to 37 Mio EUR.
• Actively participate in both IM and Business Projects related (directly or indirectly) to Cocoa RISK for both cross Region and cross Department.
• Act as a link between Global Cocoa & Sourcing and Pricing & Sales for pricing updates and offers.
• Collaborate effectively with all relevant stakeholders internally (CSD, Global Cocoa Sourcing and Trading, Sales, Pricing, Finance & Controlling, QA, …)
• Build own customer portfolio and be in direct contact to inform sales and customers (on demand) about market price trends and advise them in potential strategies to follow. Directly negotiate with open book customers on booking of cocoa raw materials both unfixed and fixed.
• Being in the center of the organization, you are responsible to communicate transparently and effectively cross functionally (CSD, Global Cocoa and Trading, Sales, Pricing, Finance & controlling, QA, …) on all aspects of cocoa raw materials and value management.
• Actively share knowledge and best practices across the organization to help it functioning optimally both cost and revenue wise.

About you

• Master University degree with minimum of 5 years relevant experience in an operational environment (e.g. raw materials) and or risk management
• Language: Dutch, English – good notions for French.
• Knowledge of Office and SAP is a must
• Negotiation skills and Commercial approach for the daily activities
• Minimum of 5 years relevant experience in an operational environment (e.g. raw materials) and or risk management
• Background in Economics with a profound knowledge on functioning of futures markets and currencies. General interest in macro economics.
• Experience in a customer facing role
• Ability to perform under stress (being in a very dynamic environment in which fast and accurate decision making is often needed)
• Critical mindset (to challenge the status quo)
• Good analytical skills. Interested in figure work and system aspect of risk management. Sense for detail and punctuality
• Willingness and motivation to constantly acquire new knowledge and go the extra mile
• Actively share knowledge and best practices across the organization to help it functioning optimally both cost and revenue wise
• Dynamic and flexible personality that can both work independently and in a team environment
• Being able to communicate in an efficient, effective and transparent manner
• Always act respectfully and with integrity and for the better of the entire BC group
• Willingness to travel occasionally