Risk and Controls Officer

Permanent contract|Hong Kong|Corporate & Investment banking

Risk and Controls Officer

Hong Kong, Hong Kong Permanent contract Corporate & Investment banking

Responsibilities

The Risk & Control Officer within the CLD Controls Office is responsible for overseeing and ensuring the end-to-end control environment is operating as intended throughout the client lifecycle across APAC CLD.

Core responsibilities include:
Inspection

  • Oversee all regulator inspections, internal/external audits and Compliance testing programmes relating to APAC CLD
  • Manage the tracking and delivery of inspection recommendations such that the relevant stakeholders are notified, reminded and guided to complete the commitment on time
  • Evaluate the inspection findings and recommendations, and implement new or enhance controls to strengthen CLD operational processes and reporting where required

Controls - Core

  • Identify key risks, and perform risk management and controls optimisation through BAU issue escalation or periodic review programs (e.g. RCSA, COMPASS)
  • Identify and remediate control gaps, and lead the remediation of operational errors, and work with key stakeholders to review the incidents to agree on the root causes and the delivery of appropriate remedial actions
  • Monitor and ensure the appropriate controls are in place, and enhance the controls as the framework matures
  • Partner with CLD production managers to establish and drive control meetings to ensure agenda and materials effectively cover operating risk
  • Be able to represent CLD interests over control- or regulatory-led initiatives

Controls - Permanent Supervision & Quality Assurance

  • Oversee and perform PS and QA on the post production client KYC files
  • Ensure the quality of the tested samples are aligned with the local and global requirements
  • Identify learning points from each PS cycle and feed them into the training and knowledge management programme, such as through the monthly quality forums to discuss the errors identified and provide best practices, in partnership with QC
  • Identify areas of weakness in the PS framework and implement corrective actions to ensure continuous enhancements

Change Management

  • Involve in the interpretation of Compliance policies or internal guidance as required and facilitate discussions with Compliance or CLD Norms & Experts team to support the client KYC analysis and controls framework
  • Build a strong knowledge of the operational processes across the entire client lifecycle i.e. from sales initiation, new business onboarding, client refreshes (regular or ad-hoc) to offboarding
  • Update local procedures, knowledge log, training materials and tools based on the changes related to the local, regional or global Compliance policies, internal guidance, or recommendations from the inspection or Compliance testing findings
  • Define a robust framework to manage the procedure changes and ensure the changes are effectively embedded and communicated within CLD
  • Design a knowledge management framework that allows different ways of disseminating knowledge across CLD and business, this includes but not limited to issuance of bulletins, delivery of new hire trainings, ongoing refresher courses and targeted training sessions

Profile required

Technical and Competencies Skills

  • Practical knowledge of AML/CFT and non-financial crime regulations (e.g. US, FCA, HKMA, MAS, FATCA, OECD) gained through work experience in client onboarding/KYC, Compliance, controls or audit domain
  • Good attention to details along with an open and investigative mind-set, able to see issues at both a high-level and in detail
  • Strong team player with excellent communication, partnering and influencing skill
  • Good organisational skills, ability to work in a dynamic and highly pressure environment and juggle competing priorities 
  • Highly motivated self-starter, eager to learn and willing to work on a variety of assignments
  • Demonstrated ability to think innovatively and challenge the status quo
  • Able to communicate risks and issues in a proactive manner, and escalate the blocking points to management with mitigation plans 
  • (Optional) CAMS certified or equivalent

BEHAVIORAL SKILLS

  • Client - Risk: I strive to satisfy clients while taking into account risks for the company
  • Team Spirit - Synergies: I make cooperation with colleagues in and outside my team a priority
  • Innovation - Simplification: I make things & ideas simple  
  • Responsibility - Accountability: I make decisions in my scope of responsibilities
  • Commitment - Sustainability: I strive to develop my skills and knowledge

Business insight

Company Description
Societe Generale is one of the leading European financial services groups. Founded in 1864, we have been playing a vital role in the economy for over 150 years. With more than 133,000 employees based in 61 countries worldwide, we accompany 32 million clients throughout the world on a daily basis. Based on a diversified universal banking model, the Group combines financial strength with a strategy of sustainable growth.                                              

ASIA-PACIFIC (ASIA), as one of the Business Units of Societe Generale, operates in 12 locations across the Asia Pacific region, employing over 2,500 employees with the regional headquarter located in Hong Kong. Our activities here are centered on Societe Generale's Global Banking & Investor Solutions pole (GBIS), a major growth engine for the Group and a key pillar of Societe Generale's universal banking model. Our expertise in Asia Pacific ranges from Corporate & Investment Banking (Advisory, Financing and Global Markets) to Asset Management, Global Transaction Banking and specialised financial services like Equipment & Vendor Finance and Vehicle Leasing & Fleet Management. In addition, Societe Generale's Global Solution Centre (SGGSC) in Bangalore and Chennai offers customised business solutions to the Societe Generale Group globally including ASIA.

Department Description

The Client Lifecycle & Digital Department (CLD) resides as part of the Wholesale Clients Technology & Operations division within Global Banking and Investor Solutions (GBIS)

CLD’s mission is to deliver a state-of-the art digital platform, targeting both users and clients in covering pre-trade, execution and post-trade activities. CLD aims to grow our internal client knowledge and deliver a user-friendly experience through the client lifecycle, while mitigating risk to protect the bank. The department consists of the following teams:

Existing Client Management - responsible for managing and completing all KYC reviews, including periodic reviews, trigger events and remediation

New Business Onboarding - responsible for managing and completing all new client onboarding activities

Client Experience Management - responsible for providing our key clients with bespoke service, and acts as a final escalation point to address client incidents and requests

CLD Controls Office - responsible for managing operational risk and controls, audit inspections, advisory, training & procedures, quality control and quality assurance

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: 230000B6
Entity: Societe Generale Hong Kong Branch
Starting date: 2023/02/01
Publication date: 2023/01/05
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