DESCRIPTION OF THE BUSINESS LINE OR DEPARTMENT
§ To supervise all the day to day functions within the Private Banking MO and to ensure they are run efficiently and that all the Bank’s policies and procedures are followed correctly. To provide the Middle Office Manager – Private Banking, with operational support.
§ To ensure the Middle Offices provide added value links between Front Offices and Back Offices beyond the Immune concept
§ To maintain the Group Middle Office common guidelines, methodology and procedures manual
§ Alert the Private Banking MO Manager of any unusual events detected during Private Banking MO activities.
§ Review and update the Private Banking MO operational procedures and controls, and implement any changes.
§ Assist the Private Banking MO Manager in ad hoc management projects and system enhancement.
§ Ensure, in liaison with BO, that operational processes are rectified if required.
Private Banking MO Supervision
§ Assume responsibility for the day to day work flow within the Private Banking MO Administrator(s), ensure completion of standard regular tasks for the Private Banking MO team and provide cover as necessary for these tasks.
§ Actively lead the enhancement and automation of MO workflow whilst maintaining resilient capabilities in operational risk at all times
§ Assist the MO Manger with annual appraisals and objective setting
Private Banking Middle Office Functions
Static Data & Client Account Maintenance
§ Account Opening & Amendments checks and validation, pre and post entry onto the Olympic system including approval of low (AML) risk accounts
§ Post Account Opening procedures – Ensure CRMs follow bank procedures post account opening. Confirm Welcome Packs/letters have been sent out to new clients
§ KYC - Renewal monitoring and administration and providing MI to the FO management
§ Receive copy from compliance of all private banking clients (or any third party) complaints that are linked with Middle Office areas as well as decisions made on how to process them and ensure any procedures are updated
§ Perform all duties in accordance with the principles outlined in the SGPBH Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long term sustainability of client relationships
Management information production (MIS)
§ Produce control related MIS (but NOT the manipulation/interpretation of MIS that is not for control purposes)
Payment validation (including internal transfers)
§ Ensure all payments are made in accordance with the bank’s own policies and procedures.
Trade Validation - Securities, FX
§ Ensure securities trades are in accordance with client instructions and within client risk profile.
§ Perform daily reconciliations between FO and BO
Corporate Action management
§ Monitor all Corporate Actions to ensure all instructions are received by the deadlines
Fees and Conditions
§ Check to ensure Retained Mail is kept in accordance with bank policies and procedures and that mandates are in place.
§ Carry out required operational checks for all periodic reports as prescribed in the MO procedures
§ Check that all audits required are completed in a timely manner
§ Perform client residency checks (e.g. USA) for E-Banking
§ Ensure vault contents are reconciled on a regular basis and conduct spot checks to ensure accuracy.
Client based approach: value added tasks between FO and BO (NB: In this context, “client” means the SGH Front Office business functions)
London Cash Handling (Tower Hill only)
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, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.