LME Head of Operations

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Direct message the job poster from Barbara Houghton Associates Limited

Associate Director, Banking Finance and Commodity Recruitment at Barbara Houghton Associates Limited

LME Managerial skills are imperative for this position. It is essential that all applicants have previous UK work experience.

Our client is looking for an LME Head of Operations to join their team on a permanent basis. This position does not offer hybrid working.

The overall purpose of the role is to be responsible for the management of operational aspects of day to day business, implementation and management of departmental procedures and controls and ensuring the smooth running of the Company’s operations in compliance with all relevant internal and external regulations.

Key Responsibilities:

• Supervise all Roles where they have a reporting line to you.
• Authorised “B” Signatory.
• Authorised signatory within banking systems to approve payments.
• Authorised to sign off Transfers, Financing and Metal Swaps providing the clients are within their credit parameters.
• Ensure customer payments are within their credit parameters.
• Report outstanding or potential problems.
• 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 in a timely basis and in accordance with any external regulations.
• 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.
• 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 Company can meet any commodity delivery requirements.
• Ensure Clearing Broker statements agree.
• Ensure clearing house statements agree.
• 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.
• Ensure commissions and fees are being recorded accurately on a daily basis.
• Inform compliance of any potential rule breaches.
• Organise the annual commodity insurance and review continuously.
• Review the monthly LIPS Performance received from the LME to ensure matching trades within the regulatory time frames.
• Produce statements at the end of each month according to their arrangement.
• Produce operational risk forms when such an event originates.
• Review liquidity requirements and make suggestions accordingly to ensure fully funded at all times.
• Produce monthly transaction volumes.
• Produce discounting statements when approval given.
• Oversee the option expiry process ensuring all reconciliations are performed and a high level of accuracy.
• Lead or be part of the project team which will encompass:
• Project planning with all stakeholders, ensuring procurement and IT outsourcing policies are followed.
• Project execution and tracking.
• Identify issues and assist in finding solutions.
• Business analyst to enable system enhancement specifications to be written.
• UAT, defect tracking, implementation, roll out and commissioning.

Skills, Experience and Qualifications:

• Substantial knowledge of commodities and related products such as treasury financing.
• A good level of understanding of the core processes, covering operations, Finance, Risk, Compliance & Technologies.
• Strong analytical and problem solving skills with attention to detail paramount.
• 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 organize bespoke delivery solutions.
• Strong UAT and implementation skills.
• Strong Excel Skills enabling spreadsheet creation and the supporting of existing spreadsheets.

Seniority level

Director

Employment type

Full-time

Job function

Other

Industries

Banking