Description of the Business Line or Department
The aim of our Service Unit (GBSU) is to deliver day-to-day services to GBIS Business Units and their clients to accelerate the transformation. GBSU is organised under the following structure:
- A transversal client group
- Eight service and product orientated entities
- A transversal data entity
- Seven centres of expertise
GBSU works to ensure that it delivers the services the businesses need to compete and to serve Société Générale's clients. The objective is to deliver production services in a well-controlled and cost-effective way, and to deliver competitive application systems and infrastructure that allow GBIS to grow its business in existing and new markets, launch new products and take advantage of new opportunities when they arise.
- Delivering services and solutions that enable GBIS to deliver its business objectives.
- Ensuring a cost effective, high quality, flexible and well controlled production service for business applications systems and IT infrastructure (service delivered by RESG/GTS).
GBSU/REG implements all necessary means to ensure the SGCIB regulatory compliance. In a very unpredictable and unstable context, the regulatory evolutions in Europe as well as in the US imply very important changes for our activity, impacting our business model, producing new reporting and other obligations with huge impact on our processes. As we deal with many products, all new regulations impacting us, on a worldwide perspective. The regulatory projects management impact different stakeholders as Front office, OPER, Compliance and IT team.
In London, the Operations Regulatory Reporting Production team are responsible for ensuring SGIL meets its regulatory obligation for key regulatory reports including Tax reporting.
Summary of the key purposes of the role
The Financial industry is currently impacted by several tax regulations: FATCA, CRS, 871(m), DAC6, Spanish/German FTT. These regulations have impact on financial institution and these entities should answer to new obligations:
- Identify client for tax purpose
- Report account information to tax authorities
- Apply withholding on some eligible payments
All these duties conduct financial institution to change the way they work.
The UK regulatory project team is in charge of driving the change linked to regulations within GBSU. The team is looking for a business analyst to take part of tax regulatory projects.
The resource will be in charge of
- Organizing project committees
- Providing tools to follow the projects achievements
- Leading business impact studies
- Lead some implementation stream
Design and deploy process and controls to produce regulatory reporting, apply withholding or identify client with respect to the tax regulation requirements
Summary of responsibilities
The resource will be required to work with the Operations, Business, IT, Compliance, Legal and tax teams to be part of the implementation of tax regulatory projects. Maine responsibilities will be:
- Ensure the good delivery of the project deliverables
- Write business requirements
- Design and deploy procedures
- Train operational teams
- Explain regulatory requirements to IT coordinator and IT Business Analysts.
- Run the UAT regarding the different IT developments
- Respect budget and project milestones
- Reporting & communication to management/stakeholders
- Responsibility to adhere to internal Policies that relate to you, your business or other businesses for which you have any level of responsibility. It is your responsibility to ensure compliance with operational and conduct risk requirements (e.g. data leakage, security policies and regulatory requirements).
- Adhere to individual and where applicable department conduct rules in accordance with the FCA and PRA Code of Conduct rules
- Responsibility for managing, controlling, preparing and escalating risk within the scope of your position and in line with existing policies.
- Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory and statutory bodies, trading venues, etc that are applicable to your role and business line.
- To assist in the self-identification of all conduct related issues. Ensure escalation to appropriate stakeholder or function whether internal or external.
- Adhere to business line mandates relevant to the role as directed by your manager
Level of Autonomy and Authority
High level of autonomy