FINANCIAL SERVICES RECRUITMENT

LONDON | NEW YORK

JOB SUMMARY

Commodities Trade Support

Commodities Trade Support We are recruiting for an International Investment Bank based in Midtown Manhattan, NYC to oversee the daily processes and functions required to support trading and sales in the New York office. Support the trade validation and trade booking flows for the Energy Oil trading desks in London and New York.

JOB TEXT

Operate as a global team using a 'follow the sun' model between locations. Business will be expanding in 2019 from Crude, to a Crude and Refined Products trading business and while an understanding of oil trading activities is beneficial, it is not a requirement for the role as full training will be given. A good understanding of trade validation and affirmation processes, front to back trade flow ideally within an investment bank, plus a strong focus of operations controls are of greater importance.

Key Responsibilities:

  • Knowledge of commodities including physical crude and refined product trades.
  • Regularly review trade support function to identify efficiencies and develop and implement plans to make ongoing process improvements.
  • Weekly and Monthly MIS preparation.
  • Time Management and strategic planning.
  • Checking deal recaps for physical crude/product trades versus booking platform.
  • Checking scheduling activity for movement of vessels/railcars versus logistics systems.
  • Checking and verifying consumption trades from inventory via pipe to refining system.
  • Familiarity of a physical oil contracts desirable, but not essential.
  • Familiarity of shipping documentation / reporting around vessel and railcar movements desirable, but not essential.
  • An understanding of physical inventory is desirable, but not essential.
  • An understanding of the physical life cycle, incoterms and title of transfer implications desirable, but not essential.
  • Working closely with trading and logistics team to remedy trade booking discrepancies triggered by physical lifecycle changes on a timely basis.
  • Checking and verification of associated costs related to physical movements (inspections, brokerage, hedging, swaps).
  • Working to challenging daily completion targets with prompt escalation of issues for remediation.
  • Understanding and acceptance of continuous business change and a strong desire to develop business process.
  • Understanding of the critical role Operations plays in managing first line of defense controls in support of commercial activities.
  • Reporting and escalating to relevant senior stakeholders with regard to funding anomalies/agreed thresholds.
  • The successful candidate will assume responsibility for maintaining efficient operational and control processes to ensure that the intraday and end of day funding of our nostro and custodian accounts is appropriate and within agreed bank and regulatory tolerances.
  • Ensuring that the daily tasks required of the function are carried out in an accurate and timely fashion.
  • Ensuring adherence to all relevant Bank standards and policies.
  • Ensuring that the service provided by Cash Management to internal and external clients is delivered to an excellent standard.
  • Ensuring that Cash Management maintains close communication lines with the relevant desks across all global offices.
  • Promptly escalating new risks to the Head of Structured Products, Banking and Shared Services Operations.
  • Proactively and promptly managing any risk incidents that relate to or impact Cash Management.
  • Excellent communication and negotiation skills.

Preferred Qualifications and Experience:

  • A college degree.
  • Experience in a global Broker Dealer.

Experience required to successfully perform the role:

  • Experience of working in a highly regulated environment, ideally Financial Services.
  • Previous experience managing securities operations teams.

Knowledge, technical skills and expertise:

  • Trade Support globally for commodities including physical oil and petroleum products.
  • Knowledge of the Sanction Screening process (preferred but not required).
  • Understanding of risk and control for both the bank and our customers.
  • Banking knowledge.
  • Knowledge of emerging markets.
  • IT skills.
  • Understanding the current risk environment.
A DIFFERENT APPROACH TO HUMAN CAPITAL MANAGEMENT
FIND US ON LINKEDIN, TWITTER & INSTAGRAM
  • Up to USD90000 per annum
  • New York, NY, USA
  • Permanent, Full time
  • Charles Levick
  • 2019-02-18