Our client, an International Trading Company, based in London City are currently seeking an Operations Specialist.
This person will be responsible for providing operational expertise to the worldwide Precious Metals business, and any new business.
- Working as part of a team to support Trading, Commercial team & controlling. Ensuring all transactions for the Company, and other Group Companies, are booked, verified, processed & settled.
- Responsible for reporting and investigating breaches and liaising with internal and third-party stakeholders.
- An approver of pool metal release instructions, verifying depository releases/receipts of precious metal.
- Co Ordinator of physical movements for customers and monitoring physical supply receipts.
- Supporting the Commercial team and Business, developing customer
- Answering real time inquiries, resolving customer/supplier
- Compliant with value added tax (VAT) implications for the UK, Japan, Italy & South Africa.
- Responsible for administration of supply contracts in line with their Terms & conditions and support Global supply chain.
- To provide expertise & partnership to the Operations Manager.
Knowledge and experience required
- 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
- Proficiency in the Microsoft suite of applications – focus on Excel, PowerPoint, and Visio.
- Developed proficiency in the following BASF competencies must be evident and demonstrated:
- Communicate Effectively
- Collaborate for Achievement
- Develop Self & Others
- Demonstrate Customer Focus
- Drive Innovation
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.
- 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.
- 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.
- 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, e.g. EMIR and LBMAi
Tax planning for metal movement
- Assist Operations Manager to advise on metal movement for tax planning
- Understand VAT regulations and the implications for PGM and Base Metals business.
- Process and record VAT properly.
Credit and Cash Management
- Back up for credit management process when required
- One of authorised persons to review and approve cash management.