Description of the Business Line or Department
Within CPLE, the CPLE/GBS department is made up of 2 teams: a team dedicated to regulatory projects impacting Wholesale activities, and a Compliance Advisory team, whose mission is to support the GBSU’s Service Units dedicated to support post-trade functions of the Wholesale activities, in the control of its risks of non-compliance and reputational risk.
The compliance advisor will be part of the SGLB CPLE department under the responsibility of CPLE/GBS and will work closely with the UK’s GBSU’s.
The compliance advisor will have to adhere to SLGB compliance mission statement – “to enhance and maintain a robust compliance framework, in partnership with all stakeholders, to execute the firm’s strategy in accordance with its risk appetite, regulatory expectations and industry best practices”
Summary of the key purposes of the role
Key purpose of the role forms part of the CPLE function within SGLB.
The main responsibilities include:
- Advisory focus on operational compliance matters, and providing direct compliance support to the GBSU’s functional areas.
- Senior advisor on all regulatory projects managed by GBSU REG, providing regulatory rules interpretation and guidance when required
- As many of the support processes are undertaken in Paris, the role will have direct interaction with some key resources in Paris to facilitate full oversight of the infrastructure supporting the London SG CIB businesses
- The post holder reports into the CPLE/GBS Manager in the UK and will have close interaction with the CPLE/WSB/GBS (business compliance officers team supporting GBSU teams) in Paris and the CPLE/WSG/REG/MI team (team responsible for advising on Market Integrity for SG Group) based in Paris including the regulatory project team.
Summary of responsibilities
The responsibilities of the compliance advisor for GBS are:
- As Compliance Officer, supporting key support unit areas and providing direct compliance advice and support to these resource functions to highlight any regulatory risks, to define adequate appropriate mitigating action plans and to ensure effective information flow as required.
- Relay regulatory changes identified by CPLE or Legal to GBSU’s and support GBSU in its analysis of regulatory developments impacting it.
- Attend and represent SG at appropriate industry working groups on regulatory development topics as appropriate (e.g. UK Finance and AFME).
- Identify and deliver effective face to face training to resource functions as required (both mandatory training and ad hoc training as requested specifically from resource functions).
- Raise any material regulatory concerns or forward any communications from the regulator to the Head of UK Wholesale Banking and the Head of UK Regulatory Affairs
- Upholding the FCA and PRA Principles for Business and acting as compliance support in developing culture of compliance and conduct initiatives with conduct & culture partners, business partners and senior management within support functions Community.
- Providing Compliance input into the implementation of any regulatory changes supporting resource functions to deliver such changes.
- Reviewing MI with resource functions and identify improvements in Compliance visibility in regulatory breaches and risks.
- Be the primary Compliance contact for queries if a potential complaint is received by GBSU e.g. clarification as to whether the topic should be treated as a complaint, questions on the Complaints Handling Policy. Liaise with relevant CPLE SMEs to ensure GBSU has the necessary support to manage a complaint appropriately.
- Undertaking research required to respond to enquiries, from regulatory authorities, exchanges and law enforcement agencies as appropriate, and keeping Compliance Management fully informed of issues arising impacting the resource functions community.
- Actively encourage a culture of compliance in GBSU. Actively participate in GBSU UK’s periodic Culture and Conduct Partners meetings. Feed outcomes into periodic Compliance Culture and Conduct Perimeter Assessment meetings.
- Defining compliance requirements to be efficient on ad hoc requests, regulatory visits or face to face meetings from / with regulatory bodies (such as FCA, AMF, ESMA and other key regulatory bodies) that involve resource functions staff (including training resource functions staff on approach in such interviews and attending meetings and producing internal briefing notes post meetings).
- Recording, maintaining and providing support on any policy that impact resource functions staff directly, e.g. when a compliance policy relevant to GBSU is reviewed or created, support the GBSU's review of the draft. Proactively communicate the relevant compliance policies to the GBSU.
- Taking active role in Compliance Assessment exercise to assess any regulatory risks and concerns with resource units supported.
- Act as a channel (in addition to the Control Room) through which GBSU staff may escalate potential or actual conflicts of interest (COI), direct all COI-related matters to the Control Room and provide advice and guidance to GBSU on the COI Policy.
- Be the primary Compliance contact for the GBSU when it has identified a compliance breach or incident. Support the investigation of the compliance breach or incident, in liaison with the CPLE SMEs if relevant and enter details of the compliance breach or incident in the relevant tools (e.g. MyCIM).
- Report compliance matters relevant to GBSU areas supported and feed into the appropriate SGLB Governance forum (e.g. RMC, ORC, CRCF etc).
- Supporting SGIL Chief Compliance Officer and providing updates to SGIL Governance fora (e.g. Regulatory Reporting Committee for SMF and Board Room Committee) and attending monthly updates with SGIL Central Compliance team providing key KPI’s and MI.
- Be the entry point into Compliance to support GBSU in obtaining the compliance input required in connection with any outsourcing/offshoring (internal and external) undertaken or proposed to be undertaken by GBSU.
- Other duties as required