Overview
Our client, an International Commodity Trading Company based in London City area, current seek an Operations Specialist.
The Operations Specialist is a senior technical role within Global Operations, providing specialist operational expertise across the worldwide Precious Metals business and supporting existing and new business activities. The role provides operational coverage across the UK, US, Japan and China, ensuring consistent execution of core operational processes across all four regions. As part of the global Operations team, the Specialist participates in the shift rota required to provide appropriate coverage for global business requirements, while ensuring complex and critical operational activity is executed accurately, efficiently and within the required control framework.
Global Coverage and Shift Rota
- Provide cross-regional technical support and act as an escalation point where issues or exceptions require specialist expertise.
- Apply global standards while understanding and appropriately managing regional operational, regulatory, tax, customer and market requirements.
- Maintain effective handovers across regions and shifts, ensuring operational issues, risks, outstanding actions and critical deadlines are clearly communicated.
- Participate in the Operations shift rota to provide appropriate coverage for global business requirements and time-zone dependent activities.
- Provide operational coverage across the UK, US, Japan and China, supporting consistent global processes and service levels across all four trading regions.
Knowledge and Experience
- Bachelor’s degree in Finance, Economics, Business Administration or a related discipline is preferred. Candidates without a degree may be considered where substantial and relevant professional experience demonstrates equivalent expertise and knowledge.
- 5+ years of progressive experience in a trading back office, commodity operations or fast-paced financial services environment.
- Strong trade support experience within commodity products, particularly precious metals and instruments such as spot, forwards, futures, options and lease trading.
- Deep understanding of the end-to-end operational lifecycle, including trade capture, confirmations, settlements, physical movements, pool accounts, reconciliations, contracts and supply chain activities.
- Strong numerical, analytical and problem-solving skills combined with excellent attention to detail and sound judgement.
- Strong working knowledge of regulatory requirements, Incoterms and value-added tax implications relevant to the business across the regions in which the role operates.
- Strong knowledge of ERP systems and the ability to support system enhancements, testing, data quality and operational change.
- Proficiency in Microsoft Office applications, particularly Excel, including pivot tables, PowerPoint and Visio.
- Demonstrated ability to work independently, manage competing priorities and resolve complex operational issues with limited supervision.
Principal Responsibilities
Processing of Trades
- Independently verify complex and high-value trade entries in the Trinity trading system and ensure accuracy and completeness.
- Ensure trade confirmations are received from and sent to counterparties within prescribed timeframes and resolve complex discrepancies promptly.
- Monitor trade lifecycle events and investigate exceptions to ensure successful completion and appropriate escalation where required.
- Agree and investigate overnight metal positions with the Trading desk and support adherence to approved limits and controls.
- Support complex Commercial transactions, leasing activities and supply contracts, providing operational advice as required.
- Work with Trading, Commercial, Credit and Controlling to ensure operational and credit requirements are met.
- Provide operational analysis, reporting and insight to support business decisions and risk management.
Metal Movements, Pool Accounts and Reconciliation
- Clear London and Zurich daily commitments within designated cut-off times and ensure timely completion of market obligations.
- Review counterpart metal commitments against applicable credit risks and operational requirements.
- Approve metal clearing, transfers and internal / external pool account movements in line with delegated authorities and established controls.
- Reconcile closing metal positions with financial institutions and investigate and resolve discrepancies.
- Monitor forward positions and daily depository commitments and ensure accurate execution of required metal movements.
- Reconcile stock positions and ensure daily metal positions are accurate, complete and communicated promptly to relevant stakeholders.
Contract Management
- Review operational terms in supply contracts and customer agreements and assess their operational requirements.
- Ensure contractual obligations relating to pricing, delivery, payment and related operational commitments can be met.
- Prepare management summaries and highlight material operational matters, exceptions or risks.
- Identify, investigate and resolve contract-related discrepancies internally and externally.
- Provide operational advice to Trading and Commercial teams on contractual execution requirements.
- Work closely with Controlling and other functions to resolve queries, adjustments and operational issues.
Supply Chain and Physical Operations
- Review and monitor supply-chain metal forecasts and identify potential shortfalls, constraints or operational risks.
- Monitor refining requirements and metal outturns relevant to the business and communicate impacts to stakeholders.
- Ensure Supply Chain has accurate operational information to support contractual demand.
- Coordinate complex physical shipments and ensure accurate records, delivery tracking and required reporting information.
- Ensure customers have metal made available in line with contractual requirements and agreed timelines.
- Support the Operations Manager with development and standardisation of global supply-chain and master-data processes.
Operational Risk, Controls and Compliance
- Identify operational risks and control weaknesses and recommend practical actions to strengthen the control environment.
- Maintain and improve operational procedures, process controls and work instructions to reflect current business requirements.
- Support internal, external, year-end and Financial Reporting Compliance (FRC) audits by providing evidence, explaining processes and implementing agreed actions.
- Support compliance with applicable EMIR, FCA, REACH and BASF requirements relevant to the role.
- Act as a knowledgeable escalation point for operational breaches, control issues and material exceptions.
Value-Added Tax and Regulatory Requirements
- Maintain strong working knowledge of VAT regulations and implications for relevant precious and base metals activities across the UK, Italy, South Africa and Japan.
- Process and record VAT-related operational activity accurately and in line with applicable requirements.
- Liaise with BASF Tax and relevant internal teams on VAT questions, exceptions and compliance matters.
- Provide operational input to metal-movement decisions where tax considerations are relevant.
Technical Expertise, Coaching and Team Support
- Act as a recognised subject-matter expert within Operations and provide guidance on complex operational processes and issues.
- Coach and support Operations Coordinators in developing technical capability, judgement and understanding of controls.
- Provide technical guidance and knowledge sharing without formal line-management responsibility.
- Support cross-training and development of operational knowledge to strengthen resilience and succession across the team.
- Act as a senior escalation point for Coordinators and provide clear recommendations or solutions to the Operations Manager where required.
Continuous Improvement, Systems and Projects
- Identify opportunities to simplify processes, improve controls, reduce operational risk and increase efficiency.
- Lead or contribute to operational improvement initiatives and ensure agreed actions are implemented and embedded.
- Act as an Operations representative on business, system and change projects where specialist expertise is required.
- Support requirements definition, user acceptance testing, regression testing and validation of Trinity enhancements and new functionality.
- Use data, operational insight and stakeholder feedback to identify root causes and deliver measurable improvements.
- Support accurate master-data management and standardisation of global operational processes.
Business and Stakeholder Partnership
- Coordinate effectively across UK, US, Japan and China to support consistent operational outcomes and global business continuity.
- Maintain clear regional handovers and communicate material issues, risks and priorities across time zones.
- Build strong working relationships with Trading, Commercial, Controlling, Finance, Credit, Supply Chain, Tax, Legal, IT and other internal stakeholders.
- Provide clear, timely and commercially aware operational advice.
- Manage customer, supplier and counterparty queries professionally, resolving discrepancies and protecting the business relationship.
- Represent Operations confidently in cross-functional discussions and provide recommendations based on operational risk, control and business impact.
Technical Expertise
- Recognised subject-matter expert in precious metals trading operations and the end-to-end operational lifecycle.
- Strong Trinity and operational systems knowledge.
- Deep understanding of physical metal movements, pool accounts, reconciliations, contracts, supply chain, VAT and operational controls.
- Able to apply technical knowledge across regions and changing business requirements.
Leadership Through Expertise
- Leads through knowledge, credibility, coaching and influence rather than formal hierarchy.
- Supports the development of less experienced colleagues and shares knowledge proactively.
- Provides clear technical direction and constructive challenge.
- Resolves complex and ambiguous operational problems with minimal supervision.
- Identifies root causes rather than only treating immediate symptoms.
- Anticipates operational risks and take action before issues become material.
- Makes sound, risk-aware recommendations and knows when to escalate.
Continuous Improvement
- Challenges inefficient processes constructively.
- Identifies opportunities to strengthen controls, simplify processes and use technology effectively.
- Leads or contributes to change initiatives and delivers measurable operational improvements.
Commercial Awareness
- Understands wider business priorities and the impact of operational decisions on customers, Trading, financial performance and risk.
- Balances customer service, commercial requirements, operational efficiency and control.
Communication and Collaboration
- Communicates clearly and confidently with operational teams and senior stakeholders.
- Builds effective cross-functional relationships and collaborates to achieve business outcomes.
Nature and Scope –
- The role operates within a highly complex, multiple-product precious metals environment with global processes, legal entities, regions and joint-venture relationships.
- The Operations Specialist contributes to operational excellence across worldwide trading activities and supports the Operations Manager in maintaining resilient, controlled and efficient operations.
Work Environment
- Reports directly to the Operations Manager, London.
- Participates in a shift rota to provide coverage for global requirements across UK, US, Japan and China.
- Works with a high degree of autonomy and minimal supervision within established policies, controls and delegated authorities.
- Acts as a senior operational escalation point and provides technical expertise and recommendations to the Operations Manager.
- Escalates material risks, significant breaches and matters outside delegated authority appropriately.
Supervisory Responsibilities
No formal line-management responsibility.
