Commodities Operations Manager
Location: City of London
Salary: £100k
Client Details
My client is an international business with a busy London office based in The City of London. They are a Commodities specialist and will be looking for like-minded candidates with skills in this area.
Description
Overall purpose of the role: Head of Operations - Commodities
Responsible for the management of operational aspects of day-to-day business reporting to the Assistant CEO. Implementation and management of departmental procedures and controls; ensuring the smooth running of the Company's operations in compliance with all relevant internal and external regulations.
Main Duties of the Role: Head of Operations - Commodities
1. Oversee the running of the Operations Department of 4 people which will also include covering various tasks on a day-to-day basis.
2. Supervise all roles reporting to you - 4 people.
3. Authorised "B" Signatory.
4. Authorised signatory within banking systems to approve payments.
5. Authorised to sign off Transfers, Financing and Metal Swaps providing the clients are within their credit parameters.
6. Ensure customer payments are within their credit parameters.
7. Written procedures are completed for all tasks within operations and are updated regularly to ensure they are up to date.
8. Ensure trades are booked into Trinity on a timely basis and in accordance with any external regulations.
9. Ensure ALL tasks have appropriate cover and are being completed on time and to a high accuracy level.
10. Ensure all reconciliations are completed and any outages are dealt with to resolution.
11. Ensure all Regulatory reporting is completed and any rejections are resolved within the time frames set either by the exchange(s) or by the regulators.
12. Ensure all Margin Calls are sent and responded to ensure clients meet the calls, keeping risk informed of any failures and/or concerns.
13. Ensure The Business can meet any commodity delivery requirements.
14. Ensure Clearing Broker statements agree to Trinity.
15. Ensure clearing house statements (Discounted VM, VM, ONLV, IM and Collateral) agree to Trinity.
16. Management of trade confirmations.
17. Execute Internal control procedures and provide advice and recommendations to management on those procedures.
18. Assisting Front Office with physical base metals trade financing including the monitoring of stocks, rents, physical metal flows & payments.
19. Liaising with Traders to confirm metals positions, ensuring internal & external systems agree.
20. Delivery and Invoicing of Ex-Cleared LME Warrants to other LME Members.
21. Ensure LME Fees are calculated on a daily basis enabling Finance to have an accurate daily accrual.
22. Ensure IB Commissions and fees are recorded accurately on a daily basis.
23. Organise the annual commodity insurance and review continuously to ensure The Business has adequate cover.
24. Review the monthly LIPS Performance received from the LME to ensure we are matching trades within the regulatory time frames.
25. Report to Finance the trades executed by colleagues abroad.
26. Produce IB statements at the end of each month according to their arrangement and send to the relevant IB's dealing with any discrepancies before finalising payment.
27. Produce operational risk forms when such an event originates from the operations team.
28. Review The Business's liquidity requirements and make suggestions accordingly to ensure fully funded at all times.
29. Produce monthly transaction volumes and send to Finance for IFPR.
30. Produce Discounting statements when approval is given to NPV client transactions.
31. Oversee the option expiry process ensuring all reconciliations are performed and a high level of accuracy.
32. Lead or be part of projects for improvement.
Profile
1. Substantial knowledge of commodities and related products such as treasury financing.
2. Managing/supervision of a small team.
3. A good level of understanding of the core processes, covering operations, Finance, Risk, Compliance & Technologies.
4. Strong Project management skills with a proven track record of delivering such.
5. First class client/customer focus with the ability to understand their needs and where relevant organise bespoke delivery solutions.
6. Strong UAT and implementation skills.
7. Strong Excel Skills enabling spreadsheet creation and the supporting of existing spreadsheets.
*Must be happy to work 5 days in the office*
Job Offer
Head of Operations - Commodities, Financial Services Business
City of London Location
Salary £90-110k plus 15-20% bonus #J-18808-Ljbffr