Trading Operations Specialist

Our client, a well-known company is looking for candidates for the position of**Trading Operations Specialist, Bulk Commodities. 

SUMMARYThe main role of a Trade Operations Specialist is to ensure all shipments are executed accordingly to contracts and regulations, ensure timely and accurate inputs into system and spreadsheet, manage internal and external stakeholders' requirements to ensure seamless operations as well as monitor receivables from customers and follow up in the event of delay payments. The individual will be reporting to the Trade Operations Manager for Bulk Commodities. RESPONSIBILITIES

Trading Operations (70%)**

• Understand contractual terms and obligations to fulfill shipment requirements for dry bulk commodities (E.g Coal, iron ore, bauxite, copper concentrate, lithium, etc)
• Upon confirmation of trade, examine contracts of sales and purchase to confirm timing, commodity brand, terms of payment
• Liaise with counterparts on vessel nomination, load and discharge port agent details, stowage plan etc.
• Prepare LC draft and liaise with banks for LC issuance.
• Liaise with customers on LC opening, verifying bank creditability, resolve discrepancies and have customers issued LC on timely basis.
• Verify LC and other information to ensure compliance with agreement.
• Prepare and ensure shipping documents to comply with LC requirements. Liaise with bank directly for LC negotiation
• Update buyers and sellers on vessel movement
• Check and/or prepare invoices and relevant documents from supplier / to Buyer to ensure compliance with terms of agreement.
• Prepare letter of indemnity (if required).
• Prepare lay time calculations (demurrage, dispatch), for buyer calculate discharging lay time, for seller; resolve issues as required.
• Monitor cashflow for both receivables and payables.
• Ensure all month end transactions are complete within stipulated timeline.
• Updates system to ensure cash flow is sufficient to process payment.
• Monitor shipment status using an Excel tool.
• Upon loading of shipment, record quality, quantity, bill of lading and all shipping documents; checking against buyer's LC or shipping instructions.
• Monitor demurrage and/or dispatch receivables or payables.
• Work collaboratively with the team to provide support and coverage as required.

Risks Management and Compliance (20%)

• Support and advise Front Office in Contract review, revision and recommendation to ensure risk exposure is minimized
• Monitor and ensure that credit limits are not exceeded
• Identify area of transactions/ financial risks/ variance relating to trade, and ensure that such risks are addressed/ mitigated
• Collaborate with the team to ensure all transactions are executed accordingly to internal rules and escalate if required.
• Work with various departments to determine amicable solutions.

Compliance (5%)

• Maintain privacy and confidentiality of information, protect the assets of the organization, report non-compliance, and ensure adherence to all application laws and regulations
• Adhere to internal control and compliance procedures
• Liaise with the Compliance team to review, update and improve internal control processes on a timely basis

Others (5%)

• Any other tasks relevant to Trade Operations, (e.g,. system testing) as may be assigned by supervisor

REQUIREMENTS

• Minimum Diploma in business
• At least 5 years of experience in a dry-bulk commodities position, preferably metals.
• Strong Knowledge of Letter of credit & UCP600
• Familiarity with shipping (bulk) and usage of laycan and demurrage, particularly on FOB-CFR shipments
• Proficient understanding of contractual commercial terms and its risks & obligations
• Knowledge of International Metals Trade (related to procedural flow of trade, B/Cs, B/Ls, L/C negotiation, Security Trade Control, Internal Control) will be favorably considered.
• Knowledge of the commodities market and common facilities/functionalities required in the market
• Insurances, AEO, Import duties, VAT and Compliance
• Proficiency in SAP system (financial module) & Commodities Trading Systems

PERSOLKELLY Singapore Pte Ltd | EA License No.: 01C4394 | UEN No E

Registration No.: R Julian Nerchan)

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