Chain of Custody
Chain of Custody is a documented process that tracks precious metals from their source to their final destination. Think of it like a detailed travel diary that follows gold, silver, or other precious metals through every step of their journey. It helps companies prove that their metals came from legitimate sources and weren't involved in illegal mining or trading. This process is crucial for companies that want to show they're following responsible trading practices and meeting industry regulations. Similar terms include "supply chain tracking" or "traceability system."
Examples in Resumes
Managed Chain of Custody documentation for $50M worth of gold shipments
Implemented digital Chain of Custody tracking system for precious metal inventory
Supervised team responsible for maintaining Chain of Custody records and compliance
Typical job title: "Chain of Custody Managers"
Also try searching for:
Where to Find Chain of Custody Managers
Professional Associations
Job Boards
Industry Networks
Example Interview Questions
Senior Level Questions
Q: How would you handle a break in the chain of custody for a major gold shipment?
Expected Answer: Should explain crisis management steps, including immediate notification of stakeholders, documentation of the incident, investigation procedures, and implementing corrective measures to prevent future occurrences.
Q: How do you ensure compliance with international precious metals trading regulations?
Expected Answer: Should discuss knowledge of major regulations like LBMA guidelines, implementing compliance systems, staff training, and regular audits of documentation processes.
Mid Level Questions
Q: What documentation systems have you used for tracking precious metals?
Expected Answer: Should describe experience with tracking systems, both paper-based and digital, and explain how they maintain accurate records throughout the trading process.
Q: How do you train new staff on chain of custody procedures?
Expected Answer: Should explain their approach to teaching documentation processes, common pitfalls to avoid, and methods for ensuring consistent record-keeping.
Junior Level Questions
Q: What is a chain of custody document and what key information should it include?
Expected Answer: Should list basic elements like dates, quantities, signatures, storage locations, and transfer details that are essential for tracking precious metals.
Q: Why is chain of custody important in precious metals trading?
Expected Answer: Should explain the basic concept of tracking ownership and movement of precious metals to ensure legitimacy and maintain regulatory compliance.
Experience Level Indicators
Junior (0-2 years)
- Basic documentation procedures
- Understanding of precious metals tracking
- Record keeping and filing
- Basic compliance knowledge
Mid (2-5 years)
- Digital tracking system management
- Staff training and supervision
- Audit preparation
- Compliance monitoring
Senior (5+ years)
- Process improvement and optimization
- Crisis management
- International regulations expertise
- System implementation and oversight
Red Flags to Watch For
- No knowledge of basic precious metals documentation requirements
- Lack of attention to detail in record keeping
- Unfamiliarity with compliance regulations
- Poor understanding of security procedures
Need more hiring wisdom? Check these out...
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Navigating Compliance: Structuring On-the-Job Training in Regulated Industries
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