Precious Metals Operator in London

Main purpose: As a Precious Metals Operator, you will own the full lifecycle of gold bullion and doré trades - from the moment a deal is executed through to final settlement. You will be the central point of coordination between internal divisions and external counterparties, ensuring every moving part of the trade flows seamlessly. The role demands hands-on management of the distinct operational complexities that define precious metals trading: fast-paced intraday execution, tolling processes, and the precise management of unallocated accounts.

Key responsibilities:

• Trade Execution & Documentation (Intraday Focus)
  • Verify counterparty documentation (invoices, certificates, assay reports, RJC CoC, transport doc etc)
  • Manage prepayment tracking
• Tolling & Refining Process Management
  • Coordinate with refineries on material receipt and processing
  • Track material through refining
  • Reconcile input vs. output weights to ensure quality & quantity integrity
• Quality & Risk Management
  • Nominate surveyors for high-risk suppliers
  • Verify LBMA Good Delivery standards and RJC Chain of Custody certification
  • Coordinate with WSMD on quality protocols balancing trust and verification
  • Manage fraud risk awareness (high value/low volume creates exposure)
• Logistics & Vault Management
  • Coordinate specialized bullion logistics
  • Manage vault onboarding and relationships
  • Ensure customs compliance (correct HS codes, export documentation)
  • Handle Custody Transfer Documents
• Payment & Settlement Management
  • Manage and invoice various payment types: T/T, prepayments, cash-on-delivery, payment in ounces
  • Handle VAT complexities: Gold (VAT-exempt), Silver (VAT-applicable), tolling services
  • Coordinate unallocated/allocated account management with bullion banks
  • Exposure monitoring
• System Management
  • Maintain Trafigura ERP to ensure it is reflecting real world picture
  • Coordinate with Deals Desk on pricing confirmations
  • Assist with setup or development of new system to better service the desk

Working Conditions:

• Fast paced: Intraday execution with hard deadlines
• High-pressure: Same-day contract, payment, and delivery cycles
• Multi-channel: Simultaneous WhatsApp groups, emails, phone calls
• High value: Low volume but high value requires precision and fraud awareness
• Cross-functional: Constant interaction with various departments involved in the trading process

Required qualifications:

• Minimum 5 years’ experience in commodities operations or precious metals trading.
• Understanding of LBMA/COMEX standards, international bullion markets, and refining/tolling processes
• Advanced Excel, good command of English, ability to work under extreme time pressure with same-day deadlines

Attributes for success:

• Demonstrates a high value of attention to detail (high value/low volume transactions)
• Able to manage multiple concurrent trades simultaneously, maintaining accuracy and focus across competing priorities
• Comfortable working under pressure, with the ability to problem-solve effectively in a fast-moving trading environment
• Naturally numerate, with a strong sensitivity to P&L movements

Department overview: The Cargo Operations department is a global team of dynamic and energetic professionals working across different locations and assuring that all trades related to our Metals and Minerals division are properly executed.

Key Relationships:

• External: Refineries, vaults, bullion banks, suppliers, customers and traders
• Internal: Trading, Deals Desk, Trade Finance, Treasury, VAT, WSMD Control functions, Credit, Accounting

We are an Equal Opportunity Employer and take pride in a diverse workforce! We do not discriminate in recruitment, hiring, training, promotion or other employment practices for reasons of race, colour, religion, gender, sexual orientation, national origin, age, marital or veteran status, medical condition or handicap, disability, or any other legally protected status.