Description of the Business Line or Department
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:
Ø defining and implementing the overall normative framework of the Compliance service and monitors its implementation;
Ø defining procedures and implementing a framework to ensure compliance with respect to compliance risks;
Ø awareness-raising among Group employees regarding compliance risk and the strengthening of the compliance culture within the Group;
Ø 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;
Ø 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;
Ø 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);
Ø consolidating and monitoring significant compliance events in the entities
Senior Managers and Certification Regimes Advisory and Compliance (SMC)
SMC’s mission is to:
Ø Provide advice, training and support on (i) the Senior Managers and Certification Regimes (SMCR) and their implementation in Societe Generale London Branch (SGLB) and (under a service level agreement) Societe Generale International Limited (SGIL) (ii) any changes to SMCR requirements and/or evolution in regulatory expectations, and their impacts on the SGLB and SGIL compliance models;
Ø Manage the regulatory approval and certification requirements for staff performing regulated activity or significant harm functions in the UK;
Ø Raise the awareness of staff in SGLB and SGIL on compliance risk by designing and delivering compliance training on matters related to SMCR; and
Ø Provide support to ensure the mechanisms underpinning the prescribed responsibilities linked to the SMCR regime are compliant with the regulation, robust and effective.
Summary of the key purposes of the role
Ø Provide advice on SMCR and its implementation in SGLB and SGIL to SG staff in the UK or abroad and local BU/SU and HR
Ø Assist in ensuring the making of complete, correct and timely staff certifications and approval submissions to the PRA and FCA for SG staff based in the UK and abroad
Ø Assist in ensuring the retention and review of adequate documentation for staff subject to the approval / certification requirements of the UK regulatory regimes
Summary of responsibilities
· Maintain ongoing expertise in and awareness of the SMCR regulatory requirements and evolving regulatory expectations, and their application to the SMCR models implemented in SGLB and SGIL.
· Participate in relevant industry forums dedicated to SMCR topics. Cascade and integrate best practice into SMCR model implementation as appropriate.
· Escalate any issues and anomalies proactively and on a timely basis to the Head of SMC for discussion and resolution
· Support the Head of SMC in the monitoring of the SMC team’s delivery of services to internal clients (such as SGIL) under the existing service level agreement and support the design, implementation, monitoring and reporting of performance metrics relevant to the team’s SGLB-related activity.
· Engage in a constructive and collaborative manner with other SGLB Compliance teams and other internal stakeholders
· Support the development of and delivery of training to improve SMF and other staff awareness of SMCR and regulatory requirements.
· Deputise for the Head of SMC to manage delivery and operational processes as and when necessary
· Share knowledge to develop team members and raise expertise across the team
Provide advice on SMCR and its implementation in SGLB and SGIL to SG staff in the UK or abroad and local BU/SU and HR
· Provide advice to internal stakeholders in relation to SMCR matters
· Review Senior Managers and complex regulatory registrations and manage any regulator related questions liaising with relevant stakeholders as necessary
· Support any SMCR-related regulatory changes as they arise
· Review the SGLB and SGIL Management Responsibilities Maps prior to submission for internal final sign off as and when required.
Assist in ensuring the making of complete, correct and timely staff registration and approval submissions to the PRA and FCA for SG staff based in the UK and abroad
· Manage staff certification processes including quality control the relevant material, overseeing the related submission to the regulators and supporting the internal annual recertification exercise.
· Manage relationships with key stakeholders in the regulatory registration processes: Human Resources, Business Lines managers, etc.
· Provide support and advice to the business lines to enable them to ensure that their staff have the requisite skills, expertise, personal characteristics, and training to meet role requirements falling under the regulatory regimes.
· Perform appropriate controls in relation to the regulatory certification and registration processes;
· Identify gaps and review and adjust processes and normative documentation to ensure robust SMCR regime implementation within SGLB and SGIL.
· Ensure relevant parties are aware of the certification status of overseas personnel visiting the UK above the regulatory thresholds and support associated processes
· Build awareness of the tools used by the team and participate in the development of these tools.
· Suggest new operational procedures and controls subsequent to the above changes and implement ongoing tool and process improvement.