Commodities Risk Management Procurement Director

Earlier this year, Unilever announced an agreement to combine its Foods business with McCormick & Company, creating a scaled global flavor powerhouse. The proposed combination would bring together iconic Foods brands, including Hellmann’s and Knorr, with McCormick’s portfolio to create a global leader across spices, seasonings, condiments and complementary food categories, supported by strong retail and food service platforms. McCormick brings more than 135 years of heritage, a presence in 150+ countries and territories, and a portfolio of trusted brands.

The transaction remains subject to regulatory approvals and other customary closing conditions, with completion estimated for mid-2027.

This role exists to define the enterprise commodities risk-management strategy, operating model, governance and risk appetite across direct and embedded commodity exposures, protecting margin and cash flow from price, basis and volatility risk. The role acts as a strategic adviser to the Chief Procurement Officer and senior Finance and business leaders, translating commodity-market dynamics, exposures and scenarios into clear executive decisions.

It establishes global frameworks for cover strategy, forecasting, hedging, risk management and performance reporting. Working across Procurement and key functions, the role aligns commodity exposures with financial risk-management strategies and strengthens enterprise risk capability.

• Lead, develop and empower the Commodities Risk Management team of two FTEs, comprising this Director role and one direct report at Manager level, with responsibility for approximately €450+ million of commodity exposure globally.
• Own and continuously improve the enterprise commodities risk-management strategy, operating model, governance framework, delegated authorities, decision rights and risk appetite across material agricultural, energy and other commodity exposures, constructively challenging established approaches to improve risk outcomes.
• Build a comprehensive market‑intelligence and external‑network capability, combining fundamental research with insights from banks, brokers, exchanges, suppliers, traders, data providers and other market participants to monitor supply‑and‑demand dynamics, basis, forward curves, volatility and macroeconomic developments, and produce timely price and risk forecasts.
• Formulate and oversee cover and hedging strategies across physical contracts, listed derivatives, over‑the‑counter instruments and proxy hedges, including tailored solutions for less‑liquid or imperfectly hedgeable exposures.
• Identify opportunities to expand the CRM portfolio, eligible exposures and risk‑management tools to improve execution, liquidity and counter party oversight.
• Integrate physical procurement exposures with financial risk‑management strategies, partnering with Procurement portfolios and category buyers to guide sourcing decisions, supplier negotiations and contracting, while working with Treasury, Finance and Accounting to align pricing, forecasting, liquidity and margin‑protection decisions.
• Advise the Chief Procurement Officer, senior Finance and business leaders, and relevant risk committees through clear exposure reporting, key risk indicators, scenarios, stress testing, hedge‑performance and forecast‑accuracy analysis, and commercially relevant recommendations on market risks, financial impacts and decision options.
• Establish and enforce governance, limits, segregation of duties, trading mandates, counter party limits, controls, hedge documentation and escalation protocols.
• Partner with Middle Office and Operations to ensure accurate reporting, prevent speculative positions and maintain accounting, regulatory and audit compliance,…