Position Description
The BMO commodities team is looking for an experienced Precious metal trader in our London office. The mandate includes managing all aspects of trading risk and growing the BMO metals franchise. The position will require the candidate to utilize knowledge of physical and financial precious metals markets to execute and manage positions for BMO and price on behalf of BMO’s corporate and investor client base. This role includes direct responsibility for book management, executing trades, actively managing linear and non-linear risk, in order to work closely with the Global sales and trading team. The candidate also identifies opportunities for increased efficiency and improved service to internal and external clients and implements positive change within the business unit.
Group Overview
The Commodities Trading team within Global Markets Fixed Income, Currencies & Commodities (FICC) is responsible for managing and executing hedging and financing transactions for BMO’s investor, corporate and commercial clients. Working closely with the Corporate Sales & Structuring (CSS) group as well as investment, corporate and commercial banking, the team serves as product experts with a coverage universe including spot, forward, futures, options, exotics, and financing transactions.
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Key Areas of Accountability
Risk management and execution:
* Pro-active position and risk manager with extensive knowledge of of trading on CME and LME both physically and cash settling transactions
* Use abilities in financial analysis to communicate effectively and succinctly with CSS and clients to facilitate deals
* Develop trade ideas and help initiate transactions through appropriate presentation of financial data
* Understand all software systems for trading and pricing transactions
* Develop, maintain, and build out models
Collaboration:
* Be a strong partner and collaborator within Commodities Sales & Trading to share market information and solve problems
* Build relationships with product partners across Global Markets to provide/solicit cross-product mandates for new opportunities
* Continuously coach and mentor junior team member
* Ensure high levels of client satisfaction through strong cross-department coordination with the following groups:
-I&CB and P&C Coverage and Portfolio Management
-Other Trading Products Groups
-Cross-Business Risk and Cross-Business Structuring
-Documentation & Legal
-Market Risk
-Client Onboarding
-Compliance
Qualifications
Knowledge:
* Typically, between 2 - 10 years of relevant experience and postsecondary degree in related field of study or an equivalent combination of education and experience.
* Demonstrates strong knowledge of Metals markets – financial and physical CME, LME and OTC products.
* Knowledge of banking and risk concepts as well as derivative regulations
* Familiar with credit issues and industry trends in Metals globally
* Relevant experience and passion for working in a trading environment within a growing business
Skills:
* Expert portfolio management skills with a firm grasp of dynamic hedging
* Excellent communication skills (written and verbal)
* Expertise in financial computer applications including MS Excel, VBA, and Bloomberg. Strong proficiency in other Microsoft Office products.
* Able to exercise independent thought and judgment under limited supervision and to adapt to new tasks with little notice
* Creative, insightful and eager to learn
* Experience training junior staff and expanding businesses into new markets and geographies
Risk Management:
* Responsible for the prudent management of the Bank’s exposure
* Operate within authorized client, position and loss limits
* Manage risk related to pricing and sales/trading of the book
* Manage firm’s risk and take action to reduce exposure in developing and delivering client strategies
* Compliance/AML/Reputational Risk