Compliance Officer, Central Compliance - SGIL - Legal / Taxation / Compliance London - Great Britain
Description of the Business Line or Department
Societe Generale International Limited ("SGIL" - former Societe Generale Newedge UK Limited) is a wholly owned subsidiary of Societe Generale (SG) and is a global leader in the execution and clearing of exchange traded derivatives (ETD) primarily on behalf of institutional clients. SGIL also provides over the counter (OTC) products and prime brokerage services. SGIL owns several exchange licenses and Clearing Houses Licenses mainly in Europe.
Since becoming a wholly owned subsidiary, SGIL has been integrating its processes within the SG framework, and when feasible, outsourced activities to either the Societe Generale London Branch (SGLB) or to the SG Paris Headquarters. However, as a separately regulated legal entity in the UK, but also in the US as a swap dealer, it has to meet its own obligations to the UK regulator (the FCA) and the US regulators (the NFA and CFTC).
Compliance for SGIL consists of two distinct functions. One is the Compliance Advisory team which works directly with the business line(s). The second is Central Compliance which performs Compliance tasks transversal to the legal entity, acts in an oversight and control capacity, in particular as it is in charge of overseeing the performance of the Service Level Agreement signed for the Compliance function with SG London Branch, and coordinates with the Compliance Advisory teams and the various Compliance functions within SG.
This role is in the SGIL Central Compliance function, supporting the various activities under its remit, which include (but are not limited to) developing and updating the firm's Compliance manual, following the completion of the Compliance programme, filing regulatory and exchange reports, participating in governance meetings, ensuring timely and complete staff regulatory and exchange registrations, assisting with the collation of documentation for audit and regulatory enquiries, appropriately challenging the Compliance service providers, working to create alignment with SG processes, policies, and procedures when feasible and preparing unique process documentation when it is not.
Summary Of The Key Purposes Of The Role
• Assist with tasks specifically under the remit of SGIL Central Compliance, such management of the firm's Compliance manual, filing regulatory and exchange reports, etc.
• Assist with the governance of the SGIL business, including participation in meetings, preparation of process documentation, analysis of Management Information, etc.
Summary of Responsibilities
Assist the SGIL Central Compliance Team on all core Compliance responsibilities to support the CF10 in managing regulatory risk within SGIL:
• Assist in the production of regulatory and exchange filings - SGIL Central Compliance is in charge of maintaining the exchange and clearing house licenses of SGIL and coordinates any answer to the exchanges or clearing houses related to these memberships (including annual questionnaire; approval of new accesses; maintenance of authorised persons) - The department is not in charge though to answer exchange inquiry or investigation linked to transactions (this is in the remit of Compliance advisory);
• Assist in drafting and reviewing SGIL policies and updating them as necessary, or in reviewing policies written by SG London Branch to make sure that the subsidiary specificities are appropriately covered. Maintaining the SGIL Compliance manual on an on-going basis.
• Oversee completion and maintenance of compliance issues and breaches log (for example client money rule breaches, transaction reporting breaches, customer complaints, Regulators and exchanges enquiries and responses, etc) via SG internal tool Trouble Tracker and regular follow up on "open" breaches/issues;
• Engage in the governance over outsourced compliance activities; ensure that delivery of services meets expectations - This involves a lot of interactions with other compliance functions such as trade surveillance, anti-money laundering, registrations to name a few to understand the way they operate and make sure this is in line with the specificities and needs of the subsidiary;
• Prepare and / or review Compliance reports as and when required, including the quarterly compliance programme updates for the Board risk committee;
• In coordination with other SG locations, ensure that staff registrations for regulatory purposes, as well as market access are accurate, complete, and processed on a timely basis;
• Investigate and respond to internal audit findings and work on the implementation of open Compliance audit recommendations;
• Answer to various requests transversal to the legal entity;
• Represent SGIL Central Compliance in relevant projects (certain regulatory reporting, exchanges related frameworks) as indicated.
Level of Autonomy and Authority
The candidate has day-to-day autonomy to determine how best to deliver the responsibilities set out above and the priorities determined by the Manager.
All our positions are open to people with disabilities Profile Required
• Experience within a compliance function within the financial sector
• Previous experience in an FCA regulated firm is required
• Good working knowledge of FCA and exchange rules relevant to financial instruments
• Good understanding of investment firms and compliance programmes
• Good understanding of conduct risk and UK governance and FCA control framework
• Microsoft Office at moderate level, including Excel, Word, and Powerpoint
• Ability to work under tight deadlines
• Strong oral and written communication skills
• Flexibility - Adaptability
• Capacity to leverage on internal contact network and own knowledge for problem solving or finding information required within an unusual request
• Analytical Skills
If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.
People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like "hard work" and "dedication" together with "community" and "respect" has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.
Job code: 1700139D
Business unit: SG-SSB
Starting date: Immediate
Date of publication: 01/07/2019