Allocated Storage
Allocated Storage is a secure way of storing precious metals where specific bars or coins are assigned to a particular customer. Think of it like having your own safety deposit box at a bank, but for gold, silver, or other precious metals. Each item is marked with a unique serial number and is fully owned by the customer. This is different from unallocated storage, where customers only own a share of a larger pool of metals. Companies offering allocated storage typically provide insurance, regular audits, and detailed documentation of ownership.
Examples in Resumes
Managed Allocated Storage accounts totaling over $50M in precious metals
Developed tracking system for Allocated Storage and Segregated Storage of precious metals
Supervised Allocated Storage vault operations and client documentation
Typical job title: "Precious Metal Storage Managers"
Also try searching for:
Where to Find Precious Metal Storage Managers
Professional Associations
Industry Networks
Example Interview Questions
Senior Level Questions
Q: How would you handle a situation where a client disputes the condition of their stored metals?
Expected Answer: Should explain documentation procedures, insurance claims process, audit trails, and client communication protocols. Should emphasize importance of detailed intake documentation and regular verification procedures.
Q: What security measures would you implement for a large-scale allocated storage facility?
Expected Answer: Should discuss multiple security layers including physical security, surveillance, access controls, inventory management systems, and regular auditing procedures. Should also mention staff vetting and insurance requirements.
Mid Level Questions
Q: Explain the difference between allocated and unallocated storage.
Expected Answer: Should clearly explain that allocated storage means specific items are assigned to specific customers with unique serial numbers, while unallocated storage means customers own a share of a general pool without specific items assigned.
Q: What documentation is essential for allocated storage operations?
Expected Answer: Should mention storage agreements, serial number records, insurance certificates, audit reports, and chain of custody documentation. Should understand importance of maintaining detailed records.
Junior Level Questions
Q: What are the basic steps in receiving and storing allocated metals?
Expected Answer: Should describe basic intake procedures including verification, documentation of serial numbers, condition assessment, and proper storage placement. Should understand basic security protocols.
Q: How do you verify the authenticity of stored precious metals?
Expected Answer: Should know basic authentication methods, understand importance of working with certified products, and know when to involve external experts for verification.
Experience Level Indicators
Junior (0-2 years)
- Basic precious metals handling
- Storage documentation
- Inventory tracking
- Security protocols
Mid (2-5 years)
- Client relationship management
- Detailed record keeping
- Security system management
- Regulatory compliance
Senior (5+ years)
- Facility management
- Risk assessment
- Insurance coordination
- Audit management
Red Flags to Watch For
- No knowledge of precious metals handling procedures
- Lack of security awareness
- Poor attention to detail in documentation
- No understanding of compliance requirements
- Unfamiliarity with storage facility operations
Related Terms
Need more hiring wisdom? Check these out...
Building an Unshakable ATS Data Governance Framework: A Guide to Protecting Your Recruitment Goldmine
Workforce Solutions Aggregators: The Next Big Thing You Didn't Know You Needed
Beyond Spreadsheets: Why Executive Dashboards in ATS Systems Are Your Secret Hiring Weapon
