Florida Crystals Corporation Commodity Risk Management Analyst in Yonkers, New York
ASR Group is the world’s largest refiner and marketer of cane sugar, with an annual production capacity of more than 6 million tons of sugar. The company produces a full line of grocery, industrial, food service and specialty sweetener products. Across North America, ASR Group owns and operates six sugar refineries, located in Louisiana, New York, California, Maryland, Canada and Mexico. In the European Union, the company owns and operates sugar refineries in England, Portugal and Italy. ASR Group also owns and operates mills in Mexico and Belize. The company’s brand portfolio includes the leading brands Domino®, C&H®, Redpath®, Tate & Lyle®, Lyle’s® and Sidul®.
This position is responsible for validation of commodity risk positions. We buy sugar around the world for our refining operations and manage the related commodity risks. The individual will work as a member of the Risk Team that reports directly to the Vice President and Chief Risk Officer for ASR Group. This position will report directly to the North American Commodity Risk Manager. The individual will help to ensure that transactions captured in our commodity risk management system agree with third party contracts and broker statements. This individual is responsible for publishing our daily risk reports. The position will also assist in analyzing and stress testing exposure to sugar prices, freight, credit, and currency risks incurred by the company. This position will focus on both the US and Canadian sugar markets. ASR Group is the largest raw sugar buyer and refiner in the United States, thus the portfolio has a significant number of physical positions in addition to futures contracts and other instruments. This is a terrific role for an eager individual to learn about commodity markets, strategies and instruments.
The individual will be sitting next to our commercial traders and buyers at our refinery in Yonkers, NY. This individual will also work closely with Finance, Accounting and Treasury personnel. The refinery is conveniently located near the Metro-North Railroad Ludlow Station.
DETAILED ROLES & RESPONSIBILITIES
Validates that all physical and financial transactions have been properly captured within the commodity risk management system on a daily basis. Deal attributes will include quantity, price, location, counterparty, freight, time period, etc… This individual will also run reports from the risk system to assist in preparation of the daily MTM report and other ad hoc analysis.
Confirms transactions with brokers on a daily basis.
Validates the reasonableness of all forward curves and rates used to value positions and ensures that they have been properly captured in the commodity risk management system.
Preparation of risk position and MTM reports for review with traders and senior management and ensures that all such reports fairly reflect the market positions and risks of the respective portfolios or business units.
Works with Middle Office personnel throughout the company, including Toronto and London.
Conducts research on various topics including freight rates and counterparty credit ratings.
Assists in analyzing the risk profile of the portfolio including:
Significant changes in underlying positions
Changes in exposure to currency risks
Changes in exposure to counterparty credit risk
Changes in exposure to cash flow and liquidity risk
Changes in forecasts that impact refining requirements and inventory requirements
Performs tests of the reasonableness of margin calls with brokers and other counterparties, as applicable. Provides support to Accounting and Treasury.
Conducts reconciliations between third party reports and risk system information including futures and options and physical balance reports.
Supports the maintenance of the commodity risk management system and other spreadsheets used to track positions. Serves as the resident expert on the risk management system.
Tests new service packs for the risk system and new upgrade versions of the risk system as well as evaluating the functionality of prospective risk systems.
Reconciles monthly P&L results with reported monthly Management Accounting results.
Supports Chief Risk Officer with special projects related to risk management within ASR Group.
CAPABILITIES (KNOWLEDGE, SKILLS, ABILITIES AND PERSONAL ATTRIBUTES)
Attention to detail with the ability to handle multiple assignments effectively and efficiently.
Strong time management skills with the ability to work independently under minimal supervision.
Very proficient in Microsoft Excel, VBA skills are desired.
Ability to function in a fast-paced, rapidly changing environment.
Ability to build and maintain professional working relationships with Commercial, Finance and Accounting personnel.
Team player, proactive, self-motivated, and who can see the bigger picture.
Excellent oral and written communication skills.
Must be a creative thinker and have strong investigative analysis skills.
Experience with SAP is desired.
Accounting knowledge desired.
Some travel may be required to support global operations (Toronto, London, West Palm Beach), but not expected to be significant.
Must be located in the Greater New York City area.
2 years of work experience, preferably in a Middle Office function with some commodity experience.
Prior experience with a commodity risk management system desired.
Knowledge of commodity trading, financial instruments and physical contracts desired
Prior experience with cane sugar markets desired.
Knowledge of natural gas futures markets desired.
University undergraduate degree in Risk Management, MIS, Accounting, Finance, Mathematics, or a related field.
MBA is desired, but not required.
- Yonkers, New York
Equal Opportunity Employer of Minorities, Females, Protected Veterans and Individuals with Disabilities.