Associate, Physical Metals Settlements
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Job Location:
Monthly Salary:
Posted on:
11 hours ago
Vacancies:
1 Vacancy
Job Summary
Application Deadline:
Address:
100 King Street WestJob Family Group:
Key Accountabilities
Physical Metals Settlement Operations
- Execute and oversee affirmation settlement and postsettlement processing for allocated (physical) and unallocated precious metals transactions in accordance with documented SOPs.
- Act as checker for affirmation emails settlement instructions release/receipt documentation and cash settlement communications to ensure accuracy and completeness prior to downstream processing.
- Manage physical releases and receipts through approved depositories including bar list verification inventory checks release instructions incoming shipment notifications and settlement confirmations.
- Coordinate with OTC Derivative Operations to ensure accurate cash settlement instruction preparation following confirmed metals settlement.
- Ensure transactions are accurately reflected in Endur IMS and external settlement platforms to support clean downstream accounting and reporting.
Reconciliation Controls & Issue Resolution
- Perform and oversee daily reconciliations across Endur IMS depository statements and warrant balances; identify investigate document and resolve discrepancies in a timely manner.
- Provide detailed rootcause analysis and supporting evidence for reconciliation breaks escalating aged or material items in line with defined exception thresholds.
- Ensure all key operational controls are executed evidenced and retained in accordance with audit regulatory and recordretention requirements.
- Exercise judgment in identifying exceptions assessing operational risk and engaging senior team members or management where required.
Static Data Setups & Change Support
- Support Endur Nostro account and IMS vault setups including static data creation verification authorization and coordination with internal stakeholders for activation.
- Provide operational input into the onboarding of new vaults locations clients or settlement flows ensuring readiness across systems controls and procedures.
- Participate in testing and implementation of process enhancements system changes and control improvements impacting physical metals settlement activities.
Stakeholder Management & Communication
- Act as a daytoday operational contact for internal partners (LOB OTC Derivative Operations Operational Risk) and external stakeholders (clients depositories service providers).
- Respond to standard and nonstandard settlement inquiries providing clear status updates issue analysis and resolution paths.
- Prepare and distribute client position statements interest invoices and settlement confirmations in line with agreed schedules and client instructions.
Reporting Analysis & Continuous Improvement
- Gather analyze and format operational data into daily weekly monthly and adhoc reports supporting reconciliation risk monitoring and management oversight.
- Identify recurring issues or inefficiencies and contribute recommendations for process improvement control strengthening and operational resilience.
- Support the development and maintenance of procedures checklists and training materials for physical metals settlement processes.
Team Support & Coverage
- Act as primary backup for team members across key settlement and reconciliation processes.
- Provide guidance and knowledgesharing support to less experienced team members; may assist with quality checking and task coordination.
- Work independently on complex or nonroutine settlement scenarios while adhering to established governance and escalation frameworks.
Risk Governance & Compliance
- Demonstrate a strong understanding of operational risk regulatory requirements and control expectations specific to physical metals operations.
- Ensure settlement activities comply with internal policies SOPs and service level agreements.
- Maintain high standards of data accuracy documentation quality and audit readiness.
Qualifications & Experience
- Typically 46 years of relevant experience in commodities physical metals or complex settlements operations with a postsecondary degree or equivalent experience.
- Indepth knowledge of physical metals settlement processes including allocated/unallocated metals depositories reconciliations and client reporting.
- Strong handson experience with Endur IMS and reconciliation tools.
- Proven ability to analyze complex operational issues prioritize effectively and deliver accurate results in a timesensitive environment.
- Excellent verbal and written communication skills.
- Strong analytical problemsolving collaboration and datadriven decisionmaking skills.
Salary:
Pay Type:
The above represents BMO Financial Groups pay range and type.
Salaries will vary based on factors such as location skills experience education and qualifications for the role and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles the salary listed above represents BMO Financial Groups expected target for the first year in this position.
BMO Financial Groups total compensation package will vary based on the pay type of the position and may include performance-based incentives discretionary bonuses as well as other perks and rewards. BMO also offers health insurance tuition reimbursement accident and life insurance and retirement savings plans. To view more details of our benefits please visit: Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting positive change for our customers our communities and our people. By working together innovating and pushing boundaries we transform lives and businesses and power economic growth around the world.
As a member of the BMO team you are valued respected and heard and you have more ways to grow and make an impact. We strive to help you make an impact from day one for yourself and our customers. Well support you with the tools and resources you need to reach new milestones as you help our customers reach theirs. From in-depth training and coaching to manager support and network-building opportunities well help you gain valuable experience and broaden your skillset.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO directly or indirectly will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid written and fully executed agency agreement contract for service to submit resumes.
Required Experience:
IC
Key Skills
- Administrative Skills
- Accounting Software
- Time Management
- Financial Services
- External trade
- Bank Procedures
- Custodial accounts
- home loan process
- Communications
- Internat trade
- Account Management
- Accounts and Finance
- Markitwire
- Money Market
- Trade settlements
About Company
We cover the whole balance sheet, from foreign exchange, trade finance and treasury management to corporate lending, securitization, public and private debt and equity underwriting. Our team of experts can also provide a full range of advisory services, along with industry-leading res ... View more
