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

Oversee the running of the Operations Department of 4 people which will also include covering various tasks on a day to day basis

Supervise all Roles where they have a reporting line to you - 4 people
Authorised "B" Signatory
Authorised signatory within banking systems to approve payments
Authorised to sign of Transfers, Financing and Metal Swaps providing the clients are within their credit parameters
Ensure customer payments are within their credit parameters
Written procedures are completed for all tasks within operations and are updated regularly to ensure they are up to date
Ensure trades are being booked into Trinity on a timely basis and in accordance with any external regulations
Ensure ALL tasks have appropriate cover and are being completed on time and to a high accuracy level
Ensure all reconciliations are completed and any outages are dealt with to resolution
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
Ensure all Margin Calls are sent and are responded to ensure clients meet the calls, keeping risk informed of any failures and or concerns
Ensure The Business can meet any commodity delivery requirements
Ensure Clearing Broker statements agree to Trinity
Ensure clearing house statements (Discounted VM, VM, ONLV, IM and Collateral) agree to Trinity
Management of trade confirmations
Execute Internal control procedures and provide advice and recommendations to management on those procedures
Assisting Front Office with physical base metals trade financing including the monitoring of stocks, rents, physical metal flows & payments
Liaising with Traders to confirm metals positions, ensuring internal & external systems agree
Delivery and Invoicing of Ex-Cleared LME Warrants to other LME Members
Ensure LME Fees are being calculated on a daily basis enabling Finance to have an accurate daily accrual
Ensure IB Commissions and fees are being recorded accurately on a daily basis
Organise the annual commodity insurance and review continuously to ensure The Business has adequate cover
Review the monthly LIPS Performance received from the LME to ensure we are matching trades within the regulatory time frames
Report to Finance the trades executed by colleagues abroad
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
Produce operational risk forms when such an event originates from the operations team
Review The Business's liquidity requirements and make suggestions accordingly to ensure full funded at all times
Produce monthly transaction volumes and send to Finance for IFPR
Produce Discounting statements when approval given to NPV client transactions
Oversee the option expiry process ensuring all reconciliations are performed and a high level of accuracy
Lead or be part of projects for improvement. Profile

Substantial knowledge of commodities and related products such as treasury financing
Managing / supervision of a small team
A good level of understanding of the core processes, covering operations, Finance, Risk, Compliance & Technologies
Strong Project management skills with a proven track record of delivering such
First class client/ customer focus with the ability to understand their needs and where relevant organise bespoke delivery solutions
Strong UAT and implementation skills
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