The Manager of Price Risk is responsible for driving price risk management into the daily activities across Worthington Industries. The incumbent is responsible for ensuring that priced purchases and sales are aligned utilizing all options in both the financial and physical markets. Incumbent will be responsible for working with all levels of the organization as well as external customers and suppliers.
- Work with executives, sales, knowing the physical and financial markets and being able to communicate them to executives, sales, purchasing, and external customers and suppliers.
- In depth understanding of the ways in which Worthington buys and sells product. Needs to be able to follow what supplier pricing mechanisms are available, what those prices are, lead times, availability, etc. in combination with Sales Strategies. This doesn’t necessarily need to be Worthington specific. Just physical supply chain in steel. Would be open to base metals and energy as well.
- Trading (HRC, Energy, or Base Metals) - Learn, understand, and apply basic derivative trading strategies and understand the impact those trades have on the physical business. Need to identify trading needs, execute trades in the marketplace and communicate actions/results to Worthington team. Specifically on HRC - needs to always have an understanding of where executable buying and selling pricing levels are at for each portion of the forward curve as well as the depth in volume of these liquidity levels.
- Macro Economics – Ability to connect one event to market - Needs to understand basics of Supply and Demand throughout the supply chain and the impacts that market events can have on pricing/supply. This is especially important for Steel, but also important for all commodities we trade or potentially trade it.
- The ability to absorb new information, process the details and communicate to leadership is a key skill. This may range from global marketplaces, to financial trading strategies, to physical purchasing and sales strategies.
- Relationships w/ traders, sales, purchasing - To fully understand available opportunities, communication amongst traders (in the marketplace) and sales/purchase (internal) is key. Regular communication with Traders is required to have a full understanding of the HRC derivative marketplace in terms of price, tenor and depth of market. Same on the physical side with sales, purchasing teams. The combination provide best situation to identify and seize opportunities between the two marketplaces.
- Professional representation of Worthington during internal leadership/executive meetings, high profile supplier/customer meetings, and industry events.
- Responsible for training individuals and groups (both internal and external) on price risk management by explaining in detail the relationship between the financial market and the physical commodity is a necessity. Also, the ability to train on macro-economic markets and supply chain management is desired.
- Skills and Abilities
- Physical Supply Chain Experience
- Exceptional relationship building and communication skills
- Bachelors degree or equivalent experience -
- Ability to focus in an open environment
- High level of attention to detail
- Ability to multitask
- High learning agility and desire to learn
- The ability to develop PowerPoint’s and communicate complex topics to large uninformed audiences in simple, understandable formats.
- MS office skills
Worthington Industries, Inc. (Worthington), is a diversified metal processing company, focused on steel processing and manufactured metal...