Analyst, Precious Metals Settlements

ICBC STANDARD BANK PLC Singapore Branch; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading financial institution based in Singapore is seeking an experienced professional for the Precious Metals Settlements role. This position involves executing all aspects of settlements, ensuring timely delivery of physical metals while maintaining integrity in operations. Candidates should have a degree in Business and 2+ years of experience in Commodities or Banking Operations. The role requires strong communication skills, a client-focused mindset, and the ability to work under pressure. Knowledge of Mandarin is advantageous.

Qualifications

• 2+ years of experience in Commodities or Banking Operations.
• Experience in Physical Commodities Operations (Base/Energy/Precious).
• Proven history for process enhancement and improvement.

Responsibilities

• Execute settlements and deliveries of Precious Metals.
• Engage stakeholders for problem resolution.
• Ensure zero operational loss in responsibilities.
• Participate in new product discussions related to Precious Metals.

Skills

Understanding of Commodities transaction lifecycle

Physical stock reconciliations

Problem-solving

Good communication skills

Client focused mindset

Ability to work under pressure

Mandarin language skills

Education

Degree in Business or related field

Job description

ICBC Standard Bank Plc (ICBCS) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise.

ICBCS is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and the markets in which we operate. We deliver products in an environment which considers the appropriate needs of our clients, whilst providing guidance and expertise to ensure our employees understand our business and uphold the highest levels of conduct.

Headquartered in London, ICBCS also has operations in Shanghai, Singapore and New York.

At ICBC Standard Bank, we share the same values, challenges and opportunities. We are a diverse, close-knit, global team with a unique heritage and purpose. We put people first, and give talented, self driven professionals the flexibility, rewards and freedom to grow their expertise, seek new opportunities and realise their potential.

https://www.icbcstandardbank.com/

Division Summary:

Singapore’s Operations is instrumental to Global Markets’ business. Supporting key functions that are vital to the success of the business, upholding integrity in operations executions and protecting the excellent reputation of the bank.

Singapore’s Operations consists of 3 main areas (Precious Metals Settlements/Trade Support/Base Metals & Energy Settlements) with its own roles and responsibilities. Every personnel are empowered with technical knowledge and skills to perform their role, with the objective of developing them into subject matter expert in their area of expertise.

Both Precious Metals Settlements and Base Metals & Energy Settlements manages all aspect of settlements, delivery and receipt of Commodity products including Exchange related such as Shanghai Gold Exchange for the Bank. This involves the movement, storage, cash & safe settlement and reconciliation processes around these products. The function facilitates all business generated by the Front Office dealing in Commodities transactions and other complex trades and facilities. It establishes and upholds essential control function around the monitoring and capturing of all inventory and movements of the physical commodities business by liaising with Vaults/Warehouses/Clients to ensure prompt, accurate and timely delivery of physical metals to the clients during the Asia time zone.

Job Purpose:

Execution of all aspects of settlements, physical delivery and receipt of Precious Metals. This involves the movement, storage, safe settlement (Cash and Metals) and reconciliation processes around these products. Act as a control function around the monitoring and capturing of all inventory and movements in the Precious Metals businesses by liaising with vaults, warehouses and clients to ensure prompt, accurate and timely delivery of services to clients.

Key Responsibilities:

Performance

• Assist Head of Precious Metals Settlements in day-to-day BAU
• Engage Internal Stakeholders within Singapore and cross jurisdictions (SG/LDN) to assist on problem resolutions whenever possible
• Exercise reasonable care and diligence in all work-related activities
• Ensure no audit point (Internal/External) in area of responsibilities
• Achieve zero operational loss in area of responsibilities
• Ensuring that the service provided to internal and external clients is delivered to an excellent standard
• Participate in stakeholders’ meetings/conferences in all Precious Metals Settlements related matters
• Escalate any issues relating to settlements to the Head of Precious Metals Settlements
• Be involved in New Product discussions related to Precious Metals
• Participate in Projects related to Precious Metals
• Act as role model in living the Bank’s values

People

• Ensure core competencies among the team members
• Execute cross training opportunities among team members
• Motivate and provide mentoring to junior team members
• Engage cross regional training whenever necessary
• Take responsibility and proactively manage personal development and training

Process

• Review all related Standard Operating Procedures (SOP) annually
• Improve current workflows for efficiency and scalability
• Design new process (when necessary) for new products
• Assist in aligning the Global processes whenever possible
• Inventory management for physical stock in internal systems
• Checking client confirmations and identify any discrepancies
• Perform inventory reconciliations to internal systems and external parties
• Ensure timely and accurate settlements for physical stock
• Ensure relevant documentation is received from client counterparty
• Ad-hoc project participation for enhancements to systems/process
• Ensure that the appropriate controls exist in support of the change environment
• Ensure that Risk items are escalated appropriately to ensure that the Business operates in a controlled manner and that all key risk issues are raised to management and key business stakeholders
• Ensure strong partnership with peers across Operations and other functions
• Constantly review the control framework to ensure that changes to the business operating model and the products traded are appropriately risk-managed

Productivity

• Explore enhancement opportunities to improve systems’ functionalities
• Encourage creative thinking among team mates for work improvement initiatives
• Reinvent processes that are deemed to be inefficient without compromising risk/control
• Engage other teams outside of Singapore to share/adopt best practices

Required Skills, Knowledge, Experience and Values:

Preferred Qualifications and Experience

• Degree in Business or other field
• 2 years or more experience in Commodities or Banking Operations
• Preferably some knowledge in similar role

Experience required to successfully perform the role

• Detailed understanding of Commodities transaction lifecycle
• Proven experience of performing physical stock reconciliations
• Proven history for process enhancement/ improvement and remediation

Knowledge, technical skills and expertise

• Proven capability to work independently with minimum supervision
• Experience in Physical Commodities Operations (Base/Energy/Precious)
• Foresight and ability to design/document strategic solutions
• Resourceful and effective in solving problems
• Able to work effectively under pressure to produce results within deadline
• Good communication skills and people skills with ability to interact with internal and external parties
• Client focused mindset
• Diligent on all job related tasks
• Mandarin language skills would be preferred as the role deals with Chinese clients

Personal attributes

• Global mindset
• Resilience
• Client mindset
• Pays attention to detail
• High level of integrity

The role would suit someone who is:

• Able to navigate complexity
• Results-orientated
• High level of integrity