Senior Associate, Trading Operations in London

Shift Pattern Standard 40 Hour Week (United Kingdom)

Scheduled Weekly Hours 40

Corporate Grade D - Assistant Vice President

Reporting Line (UK Division) Trading & COO

Location UK-London

Worker Type Permanent

Overall Purpose

To have supervisory responsibilities for day-to-day work of Trading Operations staff. To supervise the implementation and maintenance of procedures within Trading Operations as a subject matter expert. To be responsible for day-to-day functional and technical expertise in assigned areas. To create and maintain professional external relationships through day-to-day customer engagement and member visits. To have responsibility for and ownership of projects and change requests in assigned areas. To complete detailed documentation in assigned areas of expertise and responsibility. To represent Trading Operations at various stakeholder meetings including Board Committees and with Regulators. To provide training and supervision to Trading Operations staff to facilitate cross training, ensuring growth within department and support for new starters. To provide effective first-line supervision for all trading activity on the Ring and LMEselect. To participate in the determination of the LME’s Futures reference prices, both on the Ring and on LMEselect. To ensure the Error Trade Policy and Dynamic Price Bands on LMEselect are managed effectively. To determine the Closing Prices for Traded Options if applicable.

Responsibilities

• To provide supervisory operational support for the Electronic Trading (ET) and Reference Price Generation (RPG) Important Business Service’s (IBS).
• Provide first line support to LME members for their use of LMEselect and the Ring to ensure the expected high standards are maintained.
• Provide Ring support as and when required including input on the enforcement of Ring Dealing Regulations procedures.
• To supervise the implementation and maintenance of procedures, identifying areas of improvement in either the systems used or the team’s operational processes. Escalate issues as appropriate.
• Supervise the responsibilities for day-to-day operations work of junior professionals and ensure the necessary daily tasks are performed to the appropriate standard.
• Create and maintain professional external relationships through day-to-day customer engagement and member visits.

Electronic Trading Platform

• Become an SME in the LMEselect 10 functionality including Pre-Trade Risk Management (PTRM) in order to competently handle member queries, e.g. functional queries, order status and handling, PTRM functionality and Kill Switch management, as well as to train other members of the team.
• Have a thorough understanding of the functionality and settings of the pricing platform, Horizon, including the operation and management of price bands and the live forward curve.
• Escalate observations and suspicious activity to Market Surveillance as appropriate.
• Produce monthly analysis reports for LMEselect activity to help build and maintain a thorough understanding of participants’ behaviour and monitor trends over time to support future development.
• Provide guidance and input to improve the content.
• Ensure that trading platform risks are reviewed by other ET SME’s and participate in regular reviews with 2nd line risk to identify mitigations and resolutions.
• Supervise the LMEtrader GUI, ensuring the ET team provides member support.
• Supervise all LME Volatility Control Mechanisms including Daily Price Limits, Static and Dynamic Price Bands and No-Cancellation Ranges.
• Have a thorough understanding of the LME’s other IBS’s and their dependencies on the ET and RPG services.

Business Change

• Work with the Trading Services Product Owners to help prioritise and elaborate business requirements.
• Ensure any change impact to areas such as Operational Resilience, open risks or team business processes are understood, and any internal and/or external documentation is updated where applicable.
• Have a strong working knowledge of ET and RPG applications and processes to facilitate input in requirement clarifications and upgrade activities.
• Represent the ET and RPG services in requirements meetings and UAT discussions, liaising with key stakeholders where appropriate.
• Plan and manage Business UAT activities for new ET and RPG application upgrades including test execution and resource plans.
• Oversee rollout of new changes for the ET and RPG services ensuring relevant stakeholders are briefed and business resources are allocated to support and verify success of changes.

Other Supervisory Responsibilities

• Actively participate in the management of incidents including escalation, incident calls and any remedial actions.
• Actively supervise and participate in cross-training activities within both ET and RPG services, and with other teams such as Market Surveillance and Compliance where appropriate.
• Ensure junior professionals are supervised effectively including providing input into annual objective setting and performance reviews, and that relevant training needs are addressed.
• Have a strong understanding of the appropriate regulations for the operation of an algorithmic trading platform as defined by MiFID, specifically the regulations in RTS 7, and ensure these regulations are adhered to by Trading Operations through ongoing training and process reviews.
• Work with the Regulatory Co-ordination team on the documentation for the compliance of Electronic Trading Platform processes.
• Promote the company’s corporate values and always maintain a professional demeanor.

Knowledge and Experience Required

• At least 10 years’ experience working for the LME, an LME Member, Client or other exchange.
• Thorough knowledge of LME market terminology and LME Rules and applicable Regulatory obligations, including MiFID II and other relevant regulations.
• A thorough understanding of the LME markets and how they operate.
• A thorough understanding of the forward price curve for each metal.

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression & reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.