Head of Operations - Commodities

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