{"id":251,"date":"2012-06-03T15:20:06","date_gmt":"2012-06-03T13:20:06","guid":{"rendered":"http:\/\/templeman.net\/wordpress\/?page_id=251"},"modified":"2019-01-28T14:55:28","modified_gmt":"2019-01-28T13:55:28","slug":"precious-metals-management","status":"publish","type":"page","link":"http:\/\/templemanadvisory.net\/wp\/?page_id=251","title":{"rendered":"Precious Metals"},"content":{"rendered":"\n<p>The finance and accounting challenges posed by businesses in the precious metals field are particularly complex, for example:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>High inherent operating risks due to the nature and value of the product, with both physical (theft, loss) and compliance risks (anti money laundering, tax and duty evasion)<\/li><li>Co-mingled fungible tradable metals, comprising a mixture of own metal and third parties\u2019 metal on account in various physical forms through the process<\/li><li>Necessity to maintain in addition to financial ledgers per metal asset and liability ledgers, which no existing ERP can handle \u201cout of the box\u201d<\/li><li>Numerous processing points (assay, smelting, processing) where real or book losses and gains may arise<\/li><li>Complex and protracted inventory preparation, counting and reconciliation processes particularly in the refining process<\/li><li>Currency and price exposures that must be meticulously hedged, and daily treasury liquidity flows which may equal or exceed annual operating profits<\/li><li>Unique funding of working capital through \u201cmetal leases\u201d provided by a limited number of banks and brokers and with complex title and VAT&nbsp; issues depending on the physical and paper flows<\/li><li>Rapidly evolving compliance and corporate and social responsibility landscape with initiatives such as the Dodd Frank Act conflict minerals provisions<\/li><\/ul>\n\n\n\n<p>I have gained industry leading experience in this area, including the negotiation and execution of &nbsp;mergers and acquisitions projects where the value of metals being transferred may equal or exceed the enterprise value of the business itself, necessitating a particular approach to contract, exchange, completion and post transaction true up mechanisms. &nbsp;I have served on the London Bullion Market Association regulatory affairs committee and have a deep understanding of the various&nbsp;corporate and social responsibility initiatives of the London Bullion Market Association,&nbsp;Responsible Jewellery Council, and EICC-GeSi in respect of conflict and known origin gold.<\/p>\n\n\n\n<p>Back to<a title=\"Skills and Experience\" href=\"http:\/\/templemanadvisory.net\/wp\/?page_id=166\"> Skills and Experience<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The finance and accounting challenges posed by businesses in the precious metals field are particularly complex, for example: High inherent operating risks due to the nature and value of the product, with both physical (theft, loss) and compliance risks (anti money laundering, tax and duty evasion) Co-mingled fungible tradable metals, comprising a mixture of own [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"page-full.php","meta":{"footnotes":""},"class_list":["post-251","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/pages\/251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251"}],"version-history":[{"count":2,"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/pages\/251\/revisions"}],"predecessor-version":[{"id":592,"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=\/wp\/v2\/pages\/251\/revisions\/592"}],"wp:attachment":[{"href":"http:\/\/templemanadvisory.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}