Compliance Officer

Permanent contract|London|Compliance

Compliance Officer

London, United Kingdom Permanent contract Compliance

Responsibilities

Description of the Business Line or Department

Societe Generale International Limited (“SGIL”) is a wholly owned subsidiary of Societe Generale (SG) and is a global leader in the execution and clearing of exchange traded derivatives primarily on behalf of institutional clients as well as providing prime brokerage services to a range of global institutional clients. SGIL is a member of a number of Exchanges and CCP’s across the UK and Europe and as a solo regulated firm is regulated by the Financial Conduct Authority in the UK.  Given the nature of SGIL’s global client base, SGIL is also licensed and regulated by various third country regulators in order for SGIL to provide services in these jurisdictions.

The Compliance Service Unit (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control system, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk.

In conjunction with the Business Units and other Service Units (BU/SUs), CPLE performs the following tasks with respect to compliance risk:

  • defining and implementing the overall normative framework of the Compliance service and monitors its implementation;
  • defining procedures and implementing a framework to ensure compliance with respect to compliance risks;
  • awareness-raising among Group employees regarding compliance risk and the strengthening of the compliance culture within the Group;
  • mapping and analysing Group compliance risk and general vigilance regarding issues likely to harm the Group's reputation or that of one of its activities;
  • performing the second-level control and supervision of the framework, including independently assessing compliance risk management within the entities/activities with a major impact on the Group's risk profile, and individually with respect to regulated employees, in compliance with the applicable regulations;
  • monitoring relations with supervisory and regulatory authorities, and representing the Societe Generale Group to these authorities, not including supervisory and regulatory authorities where the Legal function (SEGL/JUR) organises and coordinates the monitoring of these relations, in particular the Autorite de Controle Prudentiel et de Resolution (ACPR) and the European Central Bank (ECB);
  • consolidating and monitoring significant compliance events in the entities.

Compliance for SGIL consists of two distinct functions. One is the Compliance Advisory team which supports the SGIL Business in their day to day operations. The second is Central Compliance which performs Compliance tasks transversal to the legal entity, acts in an oversight and control capacity, in particular as it is in charge of overseeing the performance of a Service Level Agreement signed for the Compliance function with SG London Branch for a number of outsourced Compliance Services, and coordinates with the Compliance Advisory teams and the various Compliance functions within SG.

This role is in the SGIL Central Compliance function, supporting the various activities under its remit, which include (but are not limited to) developing and updating the firm’s normative documentation, providing input into normative documentation impacting the entity, with the input of the Head of Compliance developing the annual Compliance Programme and updating from month to month, the filing of regulatory and exchange returns and reports, participating in all governance meetings related to the SGIL entity and where appropriate acting as a stand in for the Head of Compliance, ensuring timely and complete staff regulatory and exchange registrations, assisting with the collation of documentation for audit and regulatory enquiries, assisting in the development of MI and Governance reports for presentation to the various committees within SGIL, managing the relationship and output of the services provided by various Compliance service providers, working to create alignment with SG processes, policies, and procedures when feasible and preparing unique process documentation when it is not.

Summary of the key purposes of the role

  • Perform tasks specifically under the remit of Central Compliance including but not limited to -

Creation and management of annual Compliance Programme and associated processes including policy and training frameworks, oversight and input into all normative documentation impacting SGIL Compliance and the SGIL business, consolidation and coordination of all management information and creation of appropriate management information packs for various governance forums in SGIL (SGIL RCC, EXCO and Board Risk Committees), input into the SGIL Compliance Risk Assessment and the filing of all regulatory and exchange returns and reports.

  • Assist with the governance of the SGIL business, including participation in relevant business meetings, preparation of process documentation, creation and analysis of Management Information, support of SGIL BU’s and SU’s on relevant regulatory matters and input into BAU Compliance matters or project initiatives.

Summary of responsibilities

Assist the SGIL Central Compliance Team on all core Compliance responsibilities to support the SMF16 in managing regulatory risk within SGIL:

  • Creation of SGIL’s Compliance Programme
  • Creation of monthly and Quarterly Management Information reports for SGIL Senior Management.
  • Yearly review of SGIL’s risk assessment and presentation to SGIL Senior Management.
  • Production of regulatory and exchange filings – SGIL Central Compliance is in charge of maintaining the exchange and clearing house licenses of SGIL and coordinate responses to the exchanges or clearing houses related to these memberships (including annual questionnaires; approval of new accesses; maintenance of authorised persons) – The department is not in charge though to answer exchange inquiry or investigation linked to transactions (this is in the remit of Compliance advisory);
  • Draft and review SGIL policies and update them as necessary, or review policies written by SG London Branch to make sure that the subsidiary specificities are appropriately covered. Maintain the SGIL Compliance manual on an on-going basis.
  • Oversee completion and maintenance of compliance issues and breaches log (for example client money rule breaches, transaction reporting breaches, customer complaints,  Regulators and exchanges enquiries and responses, etc) via SG internal incident tools and regular follow up on “open” breaches/issues;
  • Engage in the governance over outsourced compliance activities; ensure that delivery of services meets expectations;
  • Prepare and / or review Compliance reports as and when required, including the quarterly compliance programme updates for the Board Risk Committee;
  • In coordination with other SG locations, ensure that staff registrations for regulatory purposes, as well as market access are accurate, complete, and processed on a timely basis;
  • Investigate and respond to internal audit findings and work on the implementation of open Compliance audit recommendations;
  • Represent SGIL Central Compliance in all relevant projects.

Profile required

Competencies 

  • Minimum of 7 years in a banking or financial services function, preferably in Compliance or Legal or equivalent experience relating to the business line activities
  • Previous experience in an FCA regulated firm an advantage
  • Good working knowledge of global regulatory and exchange rules relevant to financial instruments an advantage
  • Good understanding of investment firms
  • Highly organised and methodical self starter
  • Strong oral and written communication skills
  • Flexibility and the ability to adapt in a fast paced environment
  • Ability to multi-task and work on a number of projects simultaneously
  • Ability to Work Under Pressure
  • Analytical Skills
  • Ability to take ownership of deliverables and manage to completion

Why join us

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

Business insight

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender identity.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 22000P9D
Entity: SG CIB
Starting date: 2022/12/05
Publication date: 2022/09/27
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