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Operations Specialist

Product:
Salary: £48 - £55K depending upon experience and background

Overview

We are working together with an International Commodity Trading Company, who are currently looking to hire an Operations Specialist to join their team. This person will be required to provided operational expertise to the worldwide PGM / Battery Materials business.

The Operations Specialist works as part of a team to support Trading, Commercial & Controlling functions of the Company. Verifying all transactions are booked, processed & settled accurately. Responsible for reporting and investigating breaches and liaising with internal and third-party stakeholders.

You will be responsible for approving metal release instructions, verifying depository releases/receipts of precious metal.  Coordinator of physical movements for customers and monitoring physical supply receipts. Supporting the Commercial team and Business, developing customer relations. Answering real time inquiries, resolving customer/supplier discrepancies.

Experience

  • Bachelor’s degree in Finance, Economics, Business Administration, or related discipline.
  • 5+ years of progressive experience in a trading back office or fast-paced financial services environment preferred.
  • High Level understanding of Trade Support Experience in Commodity products PGM & Battery Material and their instruments e.g., Spot / forward, futures, Options and Lease trading.
  • Solid numerical, analytical & problem-solving skills combined with attention to details will be required in adapting to changes while monitoring contracts. Having these skills will be essential for highlighting executed trade discrepancies, which will assist in managing the risk associated with the price volatility in our business.
  • Working knowledge of Regulatory requirements, INCO terms, and understanding value-added taxation in the UK, Japan, South Africa, and Italy
  • Proficiency in the Microsoft suite of applications – focus on Excel, PowerPoint, and Vision.

Responsibilities

Processing of Trades

  • Verify executed trade data in Trinity Trading system and ensure accuracy of same.
  • Ensure that all trade confirmations are received from/sent to counterparties within the prescribed timeframe. Resolve trade discrepancies in real time, mitigate huge risk to the business.
  • Agree overnight metal positions with trading desk and ensure compliance with approved limits
  • Support commercial team transactions, leasing, and supply contracts.
  • Work with trading, commercial and credit to ensure credit lines are adhered to.
  • Support business with analysis where required.

Accounts Management

  • Clear London and Zurich daily commitments within designated cut off time ensuring no default to the market.
  • Review metal commitments for counterparts against their assigned credit risks
  • Approve metal clearing and transfer as per assigned weekly timetable
  • Reconcile closing metal positions with financial institutions.
  • Affect daily depository commitments, monitor forward positions.
  • Approve internal / external metal movements accurately and timely on the pool accounts.
  • Reconcile all stock positions and clear discrepancies.
  • Ensure daily stock positions are accurate and communicate inconsistencies to trading team immediately.

Contract Management

  • Review contractual operational terms in supply contracts and customer’s agreements
  • Ensure to comply with contractual obligations regarding pricing, delivery, payment, etc.
  • Prepare management summaries.
  • Identify, report and deal with discrepancies internally and externally
  • Advise operational requirements to Trading desk and Commercial team
  • Working closely with Controlling to resolve queries and adjustments incurred

Supply Chain Management

  • Review and monitor Supply Chain metal forecast and identify any shortfalls of supply
  • Ensure Supply Chain has accurate information to meet the contractual demand.
  • Co-Ordinate physical shipments in a timely fashion, log deliveries and provide data for REACH reporting.
  • Ensure customers have metal made available when required
  • Assist Operations manager with Global development of supply Chain & master data, streamlining global processes.

Compliance

  • Ensure that a robust system of internal controls exists to satisfy internal, year-end, Financial Reporting Compliance (FRC) audits and EMIR/FCA regulations in a timely manner, including an update of Process Controls as and when required.
  • Follow guidelines relating to REACH
  • Backup for regulatory reporting, eg. EMIR and LBMAi
  • Ensure that guidelines are properly implemented and that requirements are fulfilled in a timely manner.

Tax planning for metal movement

  • Assist Operations Manager to advise on metal movement for tax planning
  • Understand VAT regulations and the implications in the UK, Italy, South Africa, and Japan for PGM and Base Metals business.
  • Process and record VAT correctly.
  • Work closely with tax departments together related companies to ensure tax compliance.

Credit and Cash Management

  • Back up for credit management process when required
  • One of authorised persons to review and approve cash management.

Application

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