Associate Director, Physical Metals Settlements

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Role Purpose

Provides leadership and oversight for operational processes to ensure timely and accurate settlement of physical metals transactions. Ensures trades are captured and booked correctly in systems to support clean downstream settlement, reporting, and financial accounting.

Provides guidance and execution in support of new strategies and the ongoing capture of transactional information to enable analytics, reporting, and control. Maintains appropriate governance and oversight across the trade capture, inventory, depository, logistics, and settlement lifecycle, ensuring a resilient, well‑controlled operating environment.

Key Accountabilities

Operational Excellence

• Oversees end‑to‑end settlement of physical metals trades, ensuring accuracy, timeliness, and compliance with regulatory and internal standards.
• Implements and maintains robust operational controls to mitigate risk across the physical metals transaction lifecycle.
• Supports new product launches and complex trade structures by ensuring scalable, well‑governed booking and settlement processes.
• Oversees depository and inventory reconciliations, ensuring positions held with vaults, custodians, and third‑party providers are accurately reflected in internal systems.
• Provides oversight of operational processes related to the physical movement of metals, including logistics, transportation, and chain‑of‑custody considerations, in partnership with internal teams and external service providers.

Governance & Risk Management

• Acts as a subject matter expert on regulations, policies, and control standards impacting physical metals operations.
• Ensures operational integrity through effective governance covering physical inventory, depository balances, transportation, and safekeeping arrangements.
• Oversees the investigation, resolution, and escalation of reconciliation breaks, inventory discrepancies, settlement issues, and logistics‑related exceptions, ensuring timely and transparent resolution.
• Evaluates material exceptions and escalates to senior management where appropriate, maintaining strong alignment with risk and control functions.

Continuous Improvement, Automation & AI Enablement

• Leads process and system improvement initiatives to enhance efficiency, reduce risk, and strengthen operational resilience.
• Identifies and implements best practices, leveraging technology, automation, and data to improve control effectiveness and reduce manual effort.
• Actively champions the use of automation, advanced analytics, and AI‑enabled tools to improve reconciliation, exception management, workflow efficiency, and reporting transparency.
• Partners with technology and transformation teams to modernise the physical metals operating environment while maintaining strong governance and risk discipline.

Stakeholder Management

• Develops and maintains strong relationships with internal and external stakeholders, including counterparties, custodians, vaults, logistics providers, and transportation partners.
• Communicates effectively to resolve settlement, reconciliation, or delivery issues and deliver on business objectives.
• Brings a collaborative, cross‑functional approach, aligning operations with front office, risk, finance, and technology partners.

Qualifications

• Typically 7+ years of relevant experience in physical metals operations or settlements or comparable operations experience in other asset classes (e.g., derivatives, fixed income, equities, FX, or commodities) involving complex reconciliations, asset custody, or transaction lifecycle management.
• Strong understanding of trade lifecycle, settlement processes, and operational controls within a regulated environment.
• Experience with inventory management, reconciliations, or custody models is highly desirable.
• Proven leadership experience with the ability to manage teams, drive performance, and lead change.
• Demonstrated interest in leveraging automation, data, and AI‑enabled tools to modernise operational processes and improve the control environment.
• Strong communication, analytical, and problem‑solving skills, with the ability to manage ambiguity in a fast‑paced environment.

The above represents BMO Financial Group’s 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 Group’s expected target for the first year in this position.

BMO Financial Group’s 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: https://jobs.bmo.com/global/en/Total-Rewards

About 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. We’ll 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, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

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.