Job Title: Associate Manager
Reporting: Reports to Treasury Manager
Designation: Associate Manager FX CoE
Job Purpose
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 25,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York. Bunge has implemented a Shared Services Center in Chandigarh, India to support Asia Pacific operations in areas of Finance & Accounting, Trade Operations and Treasury.
The Incumbent will be responsible for performing Cash & Debt management activities supporting Treasury operations, which services the Asia Pacific / Europe / US operations for Bunge Group. In addition, is also responsible for supporting officers in transaction processing & issue resolution.
Key Responsibilities
Support the Business Commercial Managers in the identification of foreign currency risks & advise on mitigation of such risk.
Tracking of exposures in key commodities including formulating hedging policies, recommending timely hedges including new approaches to commodity hedging
Should have sound understanding of reconciliation of commodity position of various commodities with equivalent currency hedge.
Should be able to review Cash balance of various accounts and check impact on overall FX Position.
Reconciliation of Trader Position with Broker statement and raise an alarm in case of mismatch to respective parties.
Track movement of open contracts and washouts
Review open contracts for various commodities and ensure equivalent currency hedge.
Provide recommendations in case of overall FX position is not with in permissible limits.
Devising hedging strategy and executing the FX trades with internal traders.
Highlighting forex risk & market opportunities and updating the FX P&L in a timely manner.
Allocation of FX hedges to underlying exposure and settlement of derivatives on maturity
Should possess analytical skills and attention to detail managing voluminous data
MIS & Presentations to senior management
Strong understanding of derivates (commodities and FX)
Should possess good understanding of ERP (SAP) and its T-codes, Excel, FX all
Should be able to understand and track FX movements in different segments like inventory, purchase, invoicing, spends etc.
Should have understanding different sub-ledgers and general ledger and chart of accounts
Reporting of Cash position to senior management
Calculation of MTM on Hedges & Derivatives
Additional responsibilities:
Identify ideas for process improvement utilizing industry leading practices
Handle exceptions generated, perform root cause analysis to resolve current issues and act proactively to avert potential issues in future
Educational Qualification & Skills required:
Chartered Accountant with an experience of 10-12 Years
Experience in Commodity/FMCG Companies will be an added advantage
Team management is desirable
Knowledge and Experience
Essential:
Good knowledge of concepts and procedures related to Hedge accounting & reporting
Ability to provide high quality level of customer service of FX/ Hedges / M2M
Dealt in multiple currencies of FX, FX exposure reporting
Good understanding of derivative market will be an added advantage
Ability to work independently, efficiently and deliver high quality output under time pressure
Independent and meticulous with figures
Strong written & oral communications skills in English. Knowledge of Asia languages added advantage.
Strong problem solving & organization skills
Experience in managing people and processes through a sustained period of change
Excellent computer skills and competency in Microsoft Office (Word, PowerPoint, Excel, Outlook)
Experience in ERP/ Accounting systems/SAP/Online Banking Portlas
Distinct Advantage
Experience working in a similar Shared Services Centre setup a distinct advantage
Experience in processing of high volumes of transactions
Experience in SAP, workflow tools and document imaging systems
Willing to work in different shift timings including US shifts
Bunge (NYSE: BG) is a world leader in sourcing, processing and supplying oilseed and grain products and ingredients. Founded in 1818, Bunge's expansive network feeds and fuels a growing world, creating sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. The company is headquartered in St. Louis, Missouri and has 25,000 employees worldwide who stand behind more than 350 port terminals, oilseed processing plants, grain facilities, and food and ingredient production and packaging facilities around the world.
Bunge is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, transgender status, national origin, citizenship, age, disability or military or veteran status, or any other legally protected status. Bunge is an Equal Opportunity Employer. Minorities/Women/Veterans/Disabled
