Metal Trading Control & Assurance - Leading trading house - London

A leading trading house is looking to grow their 1LOD controls and Assurance team supporting global trading within both base and precious metals.

The function is responsible for risk oversight, risk assurance and risk management relating to all physical commodities (70% metals). Physical commodities currently include the full range of precious metals, base metals and energy products. Typical transactions involving physical commodities are proprietary trading or risk management and financing transactions whether on an ownership basis or otherwise.

The role:

Lead and manage the control process in order to deliver effective risk assurance and risk management of physical commodity risk exposures globally across the global business in a balanced and proportional manner in accordance with internal and regulatory standards and risk appetite. 

Deliver physical commodity risk assurance including the following activities:

• Define, update and manage ongoing application of the physical commodity risk framework including risk policies, risk review, physical inspection and risk assessment, reporting and other risk management procedures
• Ensure integrated management of physical commodity risk including direct risks of financial loss arising from physical commodity inventories or transactions involving physical commodities and associated credit, market, operational, legal, insurance, reputational or regulatory risks arising from second order impacts
• Work with stakeholders across the Global Commodities business to ensure effective and efficient implementation of physical commodity risk management, and ongoing alignment with evolving business requirements
• Plan and manage physical inspection and desktop assurance activity, including participation in warehouse/vault/refinery/terminal/port visits globally, performance of desktop assurance reviews and agreeing and tracking actions and ensuring appropriate insurance is in place.

The candidate:

• Experience in risk, control and/or front office function of investment bank or trading house including management experience 
• Detailed knowledge of physical commodities risks and associated risk management including associated credit, market, operational, legal and insurance risk 
• Practical experience in a variety of physical commodities and associated global markets products with exposure to risk, valuation, accounting, settlement, documentation and system components.
• Knowledge of metal trading is essential.