Associate Director – Physical Metals Settlements & Confirmations (North America)

04/03/2026

Address:

100 King Street West

Customer Shared Services

The Associate Director sits within the North American Physical Metals Operations team and is responsible for the end‑to‑end settlement and confirmation lifecycle for physical precious metals transactions. The role is execution‑focused, with ownership of physical deliveries and receipts, confirmations/affirmations, vault interactions, and post‑settlement controls, ensuring timely, accurate, and well‑controlled settlement activity.

Key Responsibilities

Physical Metals Settlements (Primary Focus)

• Own and execute end‑to‑end settlement of physical precious metals transactions across North America, including allocated (vault) and unallocated settlements.
• Manage physical releases and receipts with approved depositories, vaults, refiners, and logistics providers.
• Ensure settlement instructions align with confirmed trade economics and client direction.
• Proactively manage settlement timelines, resolve issues, and escalate risks or exceptions where required.

Confirmations & Affirmation Management

• Lead the confirmation and affirmation process for physical metals trades, ensuring timely agreement with counterparties.
• Validate trade and settlement details against source systems prior to settlement.
• Ensure confirmations are properly issued, tracked, and retained in line with internal policy and audit standards.
• Act as the escalation point for complex confirmation discrepancies.

Reconciliations & Controls

• Oversee daily and periodic reconciliations across trade systems, inventory records, and depository statements.
• Investigate, document, and resolve breaks, ensuring strong adherence to maker/checker and control standards.
• Support audits, risk reviews, and control testing as required.

Stakeholder & Process Leadership

• Partner closely with Trading, OTC Derivatives Operations, Risk, and Technology.
• Identify and drive process improvements and automation opportunities within Physical Metals Operations.
• Support procedure documentation, knowledge transfer, and operational resilience for the North American team.

Required Experience & Skills

• Significant experience in physical commodities or precious metals settlements, preferably within an investment bank or broker‑dealer.
• Strong hands‑on knowledge of physical metals settlement flows, vault movements, and confirmations.
• Demonstrated ownership mindset with the ability to manage risk and complex issues independently.
• Strong communication skills and confidence engaging senior stakeholders and external counterparties.

Preferred Qualifications

• Precious metals product knowledge (gold, silver, platinum, palladium).
• Experience with trade booking, inventory, or settlement platforms used in commodities operations.
• Prior exposure to audits or regulatory reviews.

$86,000.00 - $160,000.00

Salaried

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.