Ferrous Raw Materials Trader

Group 29

Salary

COMPETITIVE

Stroke 1

Role Type

Permanent

Group 7

Location

London, UK

Our client is a global Ferrous Metals marketing and trading company; part of an international group based in Central London.

You will work as part of the Front Office team, who trade ferrous materials such as Iron Ore, Metallic, Met Coal. Your main purpose will be to maintain the existing business of Met Coke trading business as well as develop the iron ore business and maximize the global trading profit.

The successful candidate will have work-based experience in, and knowledge of the Ferrous raw materials markets, and/or previous Commodity marketing and trading experience in Ferrous Metals/Raw Materials or other commodity market.

DUTIES AND RESPONSIBILITIES WILL INCLUDE BUT MAY NOT BE LIMITED TO:

Trading and Trade Administration:

  • Maintain existing business of Met Coke and expand trading book.
  • Maintain relationships with existing suppliers/customers/brokers.
  • Ensure smooth operations in accordance with the contract.
  • Support other global offices creating/amending contracts.
  • Create new form/structure of trading including tolling, STF, etc.
  • Capture and bridge trading opportunities among group offices.
  • Analyse and manage risks (market, credit, legal, tax, etc.) together with other offices and departments concerned.
  • Develop business of other ferrous raw materials (e.g., iron ore, coking coal) in collaboration with other traders in London and overseas offices.
  • Regularly check reports/publications/announcements, analyse, make presentations if required, and share such information with people concerned.

Credit:

  • Liaise with Risk Management Department/Middle Office and proactively monitor credit risk among suppliers/customers by continuously having direct communication with their management.
  • Prepare credit line applications liaising with Risk and Middle Office.
  • Monitor Sales/Purchase credit lines and warehouse credit lines to avoid exceeding limits.
  • Support Middle Office to arrange Credit Insurance coverage and Tokio Marine insurance.
  • Follow up overdue payments liaising with Back Office.

Contract Management:

  • Liaise with Legal/Middle Office upon drafting/negotiating contracts.
  • Prepare various types of contractual documents, including guarantee agreements, consignment agreements, notation agreements, termination agreements, etc.
  • Check the language of parent/bank guarantee and monitor expiry of such parent/bank guarantee.
  • Compile supporting records/documents required for internal control procedures.

Compliance:

  • Ensure all activities comply with all corporate internal rule/policies/guidelines.
  • Ensure all relevant regulations, laws and taxes are adhered to and met.
  • Liaise with Corporate departments and resolve various issued related to Anti-money Laundering including Know Your Customer (KYC), Security Trade control, Reach, AEO, VAT&TAX and Accounting.

REQUIRED SKILLS AND QUALIFICATIONS:

Essential:

  • Experience and understanding of working within commodities, preferably ferrous raw materials.
  • Front office experience, preferably to include trading.
  • Advanced analytical and numerical competency.
  • Strong multi-tasking skills and able to priorities tasks.
  • Team player who is also able to work independently without direct supervision.
  • Professional written and verbal English language skills.
  • Manages multiple work tasks within deadlines and to required standard.
  • High standard of accuracy and attention to detail.
  • Remains calm and works well in a fast paced and sometimes pressured environment.
  • Microsoft office skills to intermediate level.
  • Educated to degree level in a relevant subject.

Desirable:

  • Network in Ferrous raw materials industry.
  • Knowledge of financing transactions.
  • Knowledge of warehouse operation and logistic operation
  • Experience of issuing/checking contracts and trading documentation.
  • Experience in FRM trading including hedging.
  • Professional written and verbal Japanese language skills would be an advantage.

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