Example SOPs: Water Broker/Trader

Water Broker/Trader SOPs

Creating Standard Operating Procedures for your Water Broker/Trader work can be difficult and take time. That’s why we’ve created these example Water Broker/Trader SOPs so you can jumpstart your SOP creation process. We want to help you set up your Finance systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Finance procedures in one place, your team will have the information they need at all times. Let’s look at some Water Broker/Trader SOP examples.

Water Broker/Trader SOP Examples

1. SOP: Client Onboarding
Purpose: This SOP outlines the process of onboarding new clients, ensuring all necessary documentation is collected, and conducting due diligence checks. It aims to establish a smooth and efficient client onboarding experience while adhering to regulatory requirements.
Scope: This SOP applies to all new clients seeking water brokerage services.
Person Responsible: Client Relationship Manager
References: SOP 2 – Know Your Customer (KYC) Process

2. SOP: Know Your Customer (KYC) Process
Purpose: This SOP details the steps involved in conducting a thorough KYC process for new clients. It includes verifying the client’s identity, assessing their risk profile, and ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
Scope: This SOP applies to all new clients and periodic reviews of existing clients.
Person Responsible: Compliance Officer
References: SOP 1 – Client Onboarding

3. SOP: Water Market Analysis
Purpose: This SOP outlines the process of conducting comprehensive market analysis to identify potential water trading opportunities. It includes monitoring water prices, analyzing supply and demand dynamics, and identifying market trends to provide valuable insights to clients.
Scope: This SOP applies to all water brokers/traders involved in market analysis.
Person Responsible: Market Analyst
References: None

4. SOP: Trade Execution and Settlement
Purpose: This SOP describes the procedures for executing water trades and ensuring timely settlement. It includes confirming trade details, coordinating with relevant parties, and ensuring accurate documentation and payment processing.
Scope: This SOP applies to all water brokers/traders involved in trade execution and settlement.
Person Responsible: Trade Execution Team
References: SOP 1 – Client Onboarding, SOP 2 – KYC Process

5. SOP: Risk Management
Purpose: This SOP outlines the risk management framework for water brokerage activities. It includes identifying and assessing risks, implementing risk mitigation strategies, and monitoring risk exposure to ensure compliance with regulatory requirements and protect the interests of clients.
Scope: This SOP applies to all water brokers/traders involved in risk management.
Person Responsible: Risk Manager
References: None

6. SOP: Compliance Monitoring and Reporting
Purpose: This SOP details the procedures for monitoring compliance with regulatory requirements and reporting any breaches or suspicious activities. It includes conducting regular internal audits, maintaining records, and promptly reporting any non-compliance issues to the relevant authorities.
Scope: This SOP applies to all water brokers/traders involved in compliance monitoring and reporting.
Person Responsible: Compliance Officer
References: SOP 2 – KYC Process

7. SOP: Client Relationship Management
Purpose: This SOP outlines the process of managing client relationships, ensuring regular communication, and providing exceptional customer service. It includes maintaining client records, addressing client inquiries and concerns, and proactively identifying opportunities to enhance client satisfaction.
Scope: This SOP applies to all water brokers/traders involved in client relationship management.
Person Responsible: Client Relationship Manager
References: SOP 1 – Client Onboarding

8. SOP: Dispute Resolution
Purpose: This SOP describes the procedures for handling client disputes and resolving them in a fair and timely manner. It includes documenting the dispute, conducting investigations, and implementing appropriate resolutions to maintain positive client relationships.
Scope: This SOP applies to all water brokers/traders involved in dispute resolution.
Person Responsible: Dispute Resolution Officer
References: None

Water Broker/Trader SOP Templates

Looking for SOP templates for your Water Broker/Trader work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Water Broker/Trader work. Get in touch if you’ve got questions about the quickest way to build out your Finance SOPs library.