Operations Specialist in London

Our client, an International Commodity Trading Company, is seeking an experienced Operations Specialist to be part of an international team driving geographical expansion and creating a centre of operational excellence.

As an Operations Specialist, you will bring your expertise to the Precious Metals Trading Division and possible new business ventures, playing a vital role in global operations. In this pivotal position, you will ensure seamless execution of transactions for Material Services trading offices worldwide, including booking, verifying, processing, and settling with precision.

Collaborate with Trading, Commercial, and Controlling teams to investigate and resolve breaches while coordinating with internal and external stakeholders to maintain smooth operations. Your responsibilities will include:

• Approving critical pool metal release instructions.
• Verifying depository releases and receipts.
• Orchestrating physical movements for customers while monitoring supply chain activities.
• Acting as a trusted partner to the global Commercial team, strengthening customer relationships, addressing real-time inquiries, and resolving discrepancies with suppliers and customers alike.

Master the complexities of value-added tax implications across global regions, ensuring compliance while supporting the administration of global supply contracts aligned with their terms and conditions. By partnering closely with the Operations Manager, you will contribute your expertise to enhance processes, drive efficiencies, and support the department's continued growth.

Knowledge and Experience:

• Educational Background: A bachelor’s degree in finance, economics, business administration, or a related field is required. Candidates without a degree may be considered if they have substantial and relevant professional experience that demonstrates equivalent expertise and knowledge.
• Professional Experience: At least 5 years of progressive experience in a trading back office or a fast-paced financial services environment is preferred.
• Trade Support Expertise: Advanced understanding of trade support operations, particularly in commodity products such as precious metals and their financial instruments.
• Logistics and Physical Goods Handling: Experience in logistics and managing the physical movement of goods, ensuring efficiency and accuracy.
• Analytical and Problem-Solving Skills: Strong numerical, analytical, and problem-solving abilities, high level of curiosity combined with exceptional attention to detail, monitoring contracts, and identifying discrepancies in executed trades.
• Collaborative Mindset: A proactive approach with a focus on teamwork and collective success, emphasizing collaboration over individual contribution.
• Regulatory and Tax Knowledge: Working knowledge of regulatory requirements, Incoterms, and value-added taxation (VAT) for global trading operations.
• Technical Proficiency: Advanced proficiency in Microsoft Office applications, with a focus on Excel (including pivot tables), PowerPoint, and Visio.

Principal Responsibilities:

• Verify executed trade data in Trinity Trading system and ensure accuracy.
• Ensure that all trade confirmations are received from/sent to counterparties within the prescribed timeframe.
• Resolve trade discrepancies in real time, mitigate risks to the business.
• Agree overnight metal positions with trading desk and ensure compliance with approved limits.
• Support commercial team transactions, leasing, and supply contracts.
• Work with trading, commercial, and credit to ensure credit lines are adhered to.
• Support business with analysis where required.

Pool Accounts Management:

• Clear London and Zurich daily commitments within designated cut-off time ensuring no default to the market.
• Review metal commitments for counterparts against their assigned credit risks.
• Approve metal clearing and transfer as per assigned weekly timetable.
• Reconcile closing metal positions with financial institutions.
• Affect daily depository commitments, monitor forward positions.
• Approve internal/external metal movements accurately and timely on the pool accounts.
• Reconcile all stock positions and clear discrepancies.
• Ensure daily stock positions are accurate and communicate inconsistencies to trading team immediately.

Contract Management:

• Review contractual operational terms in supply contracts and customer agreements.
• Ensure compliance with contractual obligations regarding pricing, delivery, payment, etc.
• Prepare management summaries.
• Identify, report, and deal with discrepancies internally and externally.
• Advise operational requirements to Trading desks and Commercial teams.
• Work closely with Controlling teams to resolve queries and adjustments incurred.

Supply Chain Management:

• Review and monitor Supply Chain metal forecast and identify any shortfalls of supply.
• Adapt to changes required by Refining, monitor OSR metal outturn.
• Ensure Supply Chain has accurate information to meet the contractual demand.
• Co-ordinate physical shipments in a timely fashion, log deliveries and provide data for regional tax teams & REACH reporting.
• Ensure customers have metal made available when required.
• Assist Operations Manager with Global development of Supply Chain & master data, streamlining global processes.

Compliance:

• Ensure that a robust system of internal controls exists to satisfy internal, year-end, Financial Reporting Compliance (FRC) audits and EMIR/FCA regulations in a timely manner, including an update of Process Controls as and when required.
• Follow guidelines relating to REACH.
• Backup for regulatory reporting, e.g. EMIR and LBMA.
• Ensure that Company guidelines are properly implemented and that requirements are fulfilled in a timely manner.
• Tax planning for metal movement.
• Assist Operations Manager to advise on metal movement for tax planning.
• Understand VAT regulations and the implications in the UK, Italy, South Africa, and Japan for PGM business.
• Process and record VAT properly.
• Work closely with tax departments together with external service providers to ensure tax compliance.
• Ad hoc backup for credit management process when required.
• One of the authorised persons to review and approve cash management.
• Assist in all projects related to trading operations and regression testing on Trinity trading platform.

Work Environment:

• The position is with minimal supervision.
• 36.25 hours per week as part of a shift rota to cover global requirements.
• Hybrid working pattern.