Trade Operations Manager, Precious Metals

Our client is an international, corporate organisation, actively involved in Precious and Platinum Group Metals trading (PGMs).

The successful candidate will be responsible for supervising all activities and employees within the Back Office of Precious Metals business, to ensure that business goes and grows smoothly and efficiently.

DUTIES AND RESPONSIBILITIES:

General:

• Fully understand all internal policies/rules/procedures and external rules/regulations related to all Back Office operations and ensure the actual operations comply with them.
• Proactively de-escalate any errors or concerns and swiftly cope with any issues of Back Office operations in a timely manner.
• Maintain close liaison and communication with all stakeholders

Management:

• Allocate workload of Back Office staff to each business/operation appropriately.
• Set the goal in accordance with goal of Precious Metals Department and conduct performance reviews.
• Provide proper mentoring and training to Back Office staff to ensure each staff has enough knowledge to fulfil each operation.
• Approve all absences for Back Office staff and ensure that enough staff work to cover in Back Office at all times.
• Recruit Back-office staff if necessary, liaising with HR Department.

Trade Operations:

• Oversee and control all (daily, weekly, monthly, quarterly, year end and ad hoc) Back Office operations and complete all required procedures in timely manner to ensure business goes smoothly and efficiently and keep improving the operation procedure to prevent errors and enhance efficiency. For example:

1. Cash settlement for precious metals
2. Settlement for FX transactions
3. issue transaction confirmation to customers
4. Issue invoice to customers
5. Confirm payments
6. Follow up overdue payments
7. Prepare disbursement instruction
8. Metal transfer at unallocated metal account (Loco London/Zurich)
9. Metal balance reconciliation at unallocated metal account (Loco London/Zurich)
10. Inventory balance reconciliation at allocated metal account / physical vault in UK/Europe
11. Shipping arrangement and customs clearance for precious metals
12. Insurance arrangement for warehouse and shipping
13. UK/EU registration and reporting such as REACH and CBAM
14. UK/EU VAT registration and reporting
15. Issue invoices for fees/charges related to service/agency agreements.
16. Monthly / quarterly outstanding balance reconciliation with customers

• Get necessary internal approval for all Back Office operations according to the company delegation of authority. Store and archive all documents and information related to Back Office operations complying with the company policies/rules.
• Prepare customer database to record general information and special requirements on confirmation, invoice, PO etc. by each customer and keep it updated.
• Register all customers and input necessary information into all systems relevant to Back Office operations such as SAP, IT2, Trinity etc.)
• Input all required information into GBS liaising with Accounting Department and provide additional information if required.
• Input all required information into IT2 liaising with Treasury Department and provide additional information if required.
• Set up and get approval of dummy credit line for all customers to ensure settlement and avoid internal credit violations liaising with Risk Management team.
• Oversee all contracts related to the Back Office operation such as warehouse agreement, forwarding agreement and review them liaising with Legal Department if necessary.
• Oversee all systems used for Back-office operations.
• Ensure all Back Office operations comply with internal control procedures and avoid any breach and cooperate with Internal Control Department for periodic internal control test procedure.
• Cooperate with Audit Department when the company has internal/external audit procedure.

EXPERIENCE REQUIRED:

Essential:

• Team player
• Ability to work to a very high standard of accuracy and attention to detail
• High level of numeracy
• Excellent time management skills
• Good knowledge of Excel and Word, PowerPoint
• Maths and English GCSE or equivalent
• Strong interpersonal skills
• Ability to work under pressure

Desirable:

• Strong people management skills
• Knowledge of the Precious Metals Markets and understanding of normal terms and procedures
• IT Knowledge of Access/Outlook /GBS, SAP/IT2/Trinity system etc.
• Understanding of European VAT
• Knowledge of new European legislation, including REACH, DF, EMIR etc.
• Knowledge of a European Language

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