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:
- 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
The Advisory Compliance for Cross-Assets Sales and Structured Products & Solutions (SPS) team is part of the Markets Advisory Compliance (MARK/ADV) division of CPLE. The SPS Compliance Advisors provide the SGCIB Cross-Assets Sales and SPS business lines with tailored advice on how to manage their regulatory and reputational risks.
Summary of the key purposes of the role
Proactively provide compliance, regulatory, and reputational risk advisory services to the Cross-Assets Sales and Structured Products & Solutions business lines and the relevant support/operational functions, ensuring that the advice provided is suited to the needs of each business.
Summary of responsibilities
In conjunction and consultation with the manager:
Advise and alert business lines on key compliance, regulatory, and reputational risks affecting their business areas, offering practical, timely solutions adapted to the business context to address and mitigate these risks.
Maintain a current understanding of the business strategy and be conscious of forthcoming changes to this strategy which may affect the regulatory and reputational risks arising from the business
Develop and maintain an understanding of current market practices relating to the operations of the business line and related compliance policies and practices.
Advising on compliance and regulatory aspects of new products and participate in New Product Committees.
Review marketing materials and any other regulatory pre-trade information documents (e.g. typically KID as per the PRIIPs/KIDs regulation) intended for retail clients within the framework of internal policies and ensure they are clear, fair and not misleading.
Proactively maintain relationships and open communication with, and actively promote Compliance in front of, business lines and other control functions, providing support where necessary to address compliance requirements at earliest opportunity.
Active participation in the process of maintaining the risk cartography, ensuring that the inherent regulatory risks posed by business activity are determined, the mitigating factors assessed to determine the residual risk and the actions required to further mitigate, or reduce, the regulatory risk.
Liaising with Paris and other Compliance staff in overseas centres as required, and providing support in understanding the regulatory risks and the impact of the London-based Cross-Assets Sales and Structured Products & Solutions requirements and FCA Rules (particularly the Market Abuse Regime) on staff based overseas whose activities impact the UK markets.
Active engagement and liaison with the Global Capital Markets Surveillance and Compliance Controls teams responsible for day-to-day transaction monitoring and periodic desk reviews of the Cross-Assets Sales and Structured Products & Solutions business lines, ensuring appropriate support and guidance in the development of product knowledge within those teams, and assisting them with Desk Reviews and completion of enquiries arising from routine monitoring.
Liaise with the Regulation and Policy, and Senior Managers and Certification Regime (SMCR) Advisory & Compliance teams in respect of any new regulation, staffing, and their impact on the business line.
Develop and deliver appropriate regulatory training for the business line using one-to-one and classroom methodologies.
Proactive dialogue and liaison with the Cross-Assets Sales and Structured Products & Solutions Compliance representatives in Paris and other global locations on a regular and frequent basis, ensuring appropriate engagement on issues impacting Compliance and the Business lines beyond the London perimeter, and a consistent approach to the resolution of issues arising.
Active participation in investigations into incidents arising within the business lines that are the focus of the team.
Engagement with the Regulation and Policy, and Senior Managers and Certification Regime (SMCR) Advisory & Compliance teams, with active participation in the development of compliance policies and procedures.
Participation in the investigation of, and response to complaints arising concerning issues within the business lines.
Ensuring timely and accurate responses to regulatory enquiries and liasing with internal groups to obtain information.
Interaction with the Regulation and Policy, and Senior Managers and Certification Regime (SMCR) Advisory & Compliance teams to assist in the registrations process for business line staff, where required.
Participating in the impact analyses of regulatory/exchange consultation documents with Compliance, communication of requirements to business line management as required, and ensuring the implementation of any developments arising within the business lines.
Active participation in the Markets Advisory Compliance team's involvement in Compliance projects, to support the co-ordination and management of projects managed by the Central Compliance teams.
Proactive and timely escalation of issues to the head of the advisory team or their delegate, ensuring regular and frequent communication on such issues.
Involvement in delivery of items in the annual Compliance Plan, which are relevant to the coverage of the team, in a timely manner.
Maintaining a detailed working knowledge of MiFID 2, FCA, PRA, and FX Global Code rules, regulations, and guidance, and a broad awareness of AMF, Commission Bancaire and other regulatory and exchange rules and regulations as required.
Attendance at forums of, and participation in initiatives driven forward by, trade associations and other industry bodies, ensuring that SG's views on regulatory developments which could impact on its business in the UK are provided as part of any consultation initiatives.
Any other tasks/projects as assigned.