Citi
Commodities Operations Vice President, Precious Metals
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Vice President (VP) - Precious Metals Settlement, Custody, and Global Logistics
This Vice President (VP) position is responsible for managing the day to day full lifecycle of precious metals settlement, custody, and global logistics. The candidate's focus will be to support the business in managing daily transactions across physical and clearing and support business growth following Citi's LPMCL member status. This role requires active engagement with a broad range of internal and external stakeholders — from trading desks and sales teams to vault operators, logistics providers, and LPMCL counterparties — to ensure the seamless and compliant operation of the precious metals business. The successful candidate will be highly versatile, bringing precision, a strong control mindset, and a collaborative approach to a dynamic, pressurised environment. We require a specialist with a strong understanding of global precious metals flows, specifically LPMCL Clearing, Shanghai Gold Exchange (SGE/SGEi), COMEX, risk management, inventory management and previous experience in implementing new operating models within an existing operations setting.
Responsibilities:
- Ensure client and house instructions are successfully received and booked accurately, maintaining data integrity across all precious metals positions.
- Monitor clearing instructions throughout the trading day, ensuring timely and accurate settlement in line with LPMCL conventions and Citi's internal standards.
- Manage the end-to-end logistics of physical inventory across Citi's global network of vaulting partners, ensuring safe and efficient movement of metal.
- Perform daily reconciliation of physical inventory held across the global vault network, investigating and resolving discrepancies in a timely manner.
- Liaise with logistics and vault providers to obtain competitive quotes and tariffs, ensuring cost-effective and secure services are maintained.
- Monitor credit exposure to LPMCL members and arrange brokers and allocations as required, escalating concerns to Risk and Credit teams where appropriate.
- Deliver against key risk and control standards, driving continuous improvement of processes and the control environment.
- Utilise AI tools and new technologies to streamline the operating model, identify efficiency opportunities, and enhance service delivery.
- Collaborate effectively with internal stakeholders across Operations, Sales, Trading, Structuring, Technology, Risk, and Credit to support the business and the development of new products.
- Support internal and external audit requests, providing accurate documentation and evidence in a timely manner.
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Qualifications:
- 3+ years of experience working within a commodities operations environment.
- Subject matter expert in one or more areas of the function, including precious metals clearing, settlement, custody, and physical logistics.
- Strong understanding of global precious metals flows, including LPMCL Clearing, Shanghai Gold Exchange (SGE/SGEi), and COMEX.
- Sound understanding of the LBMA/LPPM good delivery framework and market conventions.
- Proven experience in inventory management and risk management within a financial markets context.
- Demonstrated strong analytical, problem-solving, and decision-making skills with a high degree of accuracy.
- A track record of identifying and implementing process improvements, with experience in implementing new operating models.
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Education:
- Bachelor’s Degree/University degree or equivalent experience
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Job Details:
- Job Family Group: Operations - Transaction Services
- Job Family: Securities and Derivatives Processing
- Time Type: Full time
- Most Relevant Skills: Please see the requirements listed above.
- Other Relevant Skills: For complementary skills, please see above and/or contact the recruiter.
Equal Employment Opportunity
Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.
View Citi’s EEO Policy Statement and the Know Your Rights poster.
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