Head of Operations - Commodities
- London
- £100,000 per year
- Permanent
- Full-time
- 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.
- 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.
- 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