Fuel Derivatives and Procurement Compliance Manager

Position Summary:

Cruise Industry procurement leader for Derivatives, Compliance and analytics of conventional fuels and future low carbon fuels reporting to the AVP of Global Fuel Procurement. Provides strategic guidance and day-to-day management to the team of Procurement Managers and buyers to establish compliant, cost-effective and uninterrupted processes to secure fuel for RCG’s global fleet. Responsible for the analysis, processes and procedures in fulfilling the goals and objectives of the Fuel Purchasing function primarily related to fuel hedging and derivatives as well as compliance reporting and monitoring. This person must provide information and analysis to the executives and senior management on global oil market conditions and outlook containing complicated and ambiguous inputs in an extremely dynamic environment. Proactively engages treasury, accounting, finance, energy management, deployment departments to obtain latest strategic and analytical inputs needed to update the fuel hedge model. This position monitor’s global markets, maintains short term and long-range plans, provides frequent updates to the Fuel Procurement Supply Chain and Corporate Finance Leaders on day-to-day fuel ops, opportunities, value creation and supplier performance.

Additionally, the Commodity Manager should possess strong financial and analytical expertise to establish themselves as a subject-matter expert (SME) in the Fuel and Supply Chain Management organization. This includes expertise in gathering business requirements, collecting, storing relevant data and providing the data-driven solution in an easy-to-understand format to our stakeholders.

Essential Duties and Responsibilities:

• Responsible for managing the fuel hedge model, compliance procedures and analytical reporting for RCI, CEL, SSC and TUI which results in over 1.7 million tons of annual consumption, $1.2 Billion in direct fuel expense.
• Responsible for developing and maintaining highly complex fuel derivatives modelling which result in strategic execution of fuel trades with a notional value >$500M including conventional fuels and integration of alternative fuels into RCG’s hedge sourcing strategy including LNG, Biofuels & Methanol.
• Designs monthly, quarterly, and annual reporting to maintain hedge accounting positions compliant with FASB 133. Prepares instructions regarding reporting systems and procedures required by Federal regulations.
• Ensure compliance with internal controls, trading policies, hedge accounting and other regulations.
• Strategic continuous improvement of processes to refine hedge models, tools and risk management frameworks.  
• Manages oil, lubes and chemicals procurement contracts for data platforms including Platts, Market View, Argus, ICIS.
• Presents oil market information and recommendations to the Hedge Committee and Hedge Compliance Committee, as well as the CFO, CAO, and the Treasurer.
• Responsible for content and implementation of Environmentally Compliant Fuel Sourcing Operating Procedures for entire fleet.
• Maintain relationships with fuel suppliers, trading partners, brokers and financial institutions.
• Designs, implements, manages the Fuel IT Procurement Tool to execute the global fuel sourcing and operations strategy.
• Leads compliance reviews in cooperation with Energy management, Fleet operations, and Environmental Stewardship Works closely with Marine Operations to meet monthly and quarterly financial and environmental objectives.
• Manage the Master Fuel book database and developing business intelligence reports with key performance metrics, fuel pricing, KPI’s, supplier performance and fuel testing needed to execute the overall global sourcing strategy.
• Designs, implements, manages the Fuel Invoicing tool with the latest contract management details and works closely with the Fuel invoicing team to ensure supplier pricing data is accurate.
• Completes monthly inflation, financial, accounting and IBP reports including cost avoidance saving targets aimed to generate annual fuel savings >$60 million.
• Leads supplier performance to ensure consistent service, high quality and low costs of goods/services.
• Responsible for developing and maintaining critical bunker demand forecast modelling.
• Perform complex price analysis of multiple parameters, such as regional fuel price differentials, freight, fuel energy content, Sulphur.
• Designs, implements, manages and monitors procurement reporting systems to meet company requirements.
• Performs frequent sourcing and operations reviews on market data platforms to ensure optimal sourcing decision can be made based on fuel and other chemical consumption.
• Leads fuel operational reviews in cooperation with Energy management, Fleet operations, and Environmental Stewardship.
• Works closely with Marine Operations to meet monthly and quarterly financial and environmental objectives.
• Manages departmental KPIs such as arbitrage savings, on-time delivery, industry benchmarking.
• Performs other duties as required.  This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees will be required to perform any other job-related duties assigned by their supervisor or management.

Financial Responsibilities:

• Assist with operations management of a billion dollar+ commodities spend. Responsible for providing business users with analytical insight to properly manage and forecast the annual fuel expense.
• Deliver any financial and environmental KPIs as assigned by AVP and the Procurement Mgr.
• Provide Bunker expense reporting and any variance analysis explanation to Accounting, GMO, Finance & Corporate Planning.
• Perform sensitivity analysis based on forward looking speculation and scenarios.

Qualifications:

• BA or MBA in finance required as well as 9-12 years’ experience in financial or commodity derivatives in publicly traded company.
• A minimum of 5 years petroleum industry experience in refining, downstream operation, or marketing

Knowledge and Skills:

• Strong knowledge of petroleum industry and bunker supply
• Ability to work with professional teams in highly dynamic environment
• Working knowledge of Platts, Argus, and Bunkerworld oil pricing services
• Working knowledge of Excel, Power BI and Sequel database management
• Ability to work in a fast-paced environment with multiple projects and priorities
• Proven track record of delivering high level effective communications and presentations to senior executives
• Expertise in FASB 133, SEC reporting, Bloomberg and Platts-based commodity analysis, future prices, swaps, options, collars
• Knowledge of various environmental regulations around the globe as well as the ability to effectively communicate with regulatory agencies such as EPA, IMO, EU Environmental Agency,
• Ability to solve problems and deal with many variables where limited standardization exists Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form Moderate level knowledge of uniform commercial code and company standard terms and conditions
• Strong interpersonal skills and ability to communicate in a multicultural environment with all levels of employees and management. 
• Ability to write reports, business correspondence, and procedure manuals. 
• Ability to effectively present information and respond to questions from suppliers and all levels of staff and management, both shipboard and shoreside