Compliance Officer – Risk Reviews (Financial Crime) - Legal / Taxation / Compliance London - Great Britain Compliance Officer – Risk Reviews (Financial  …

SOCIETE GENERALE Corporate & Investment Banking
in London, England, United Kingdom
Permanent, Full time
Last application, 18 Jul 19
SOCIETE GENERALE Corporate & Investment Banking
in London, England, United Kingdom
Permanent, Full time
Last application, 18 Jul 19
Compliance Officer – Risk Reviews (Financial Crime) - Legal / Taxation / Compliance London - Great Britain
Description of the Business Line or Department

SG has committed to invest and build a strong 2 line of defence Compliance Monitoring team (CPLE/CTL) which currently comprises of approximatively 100+ collaborators in Paris, London, New York and Hong Kong. With direct reporting to the Group's General Management, the Compliance Monitoring team (CPLE/CTL) mandate is to operate, within the 3 lines of defence model,

as a 2LoD Compliance Control Testing team covering both Regulatory and Financial Crime Compliance risks, based on a robust compliance risk assessment which drives the prioritization of the risk based annual monitoring review plan.

The objective of 2 nd Level Controls and Testing is to assess and test independently the adequacy of the 1 st level controls framework that Business Units (BU) and Support Units (SU) have put in place to mitigate the risks of non-compliance, reputation and misconduct that SG Group is exposed to across its business activities and operations globally.

Compliance Monitoring and Testing conducts two types of reviews:

  • Monitoring reviews / Level 2 Controls testing

  • The key objective is to assess design & operating effectiveness of 1 st level formalised controls put in place by BU/SU to mitigate risk and ensure compliance with the Regulatory Compliance, FCC and Group Policy requirements.

  • Thematic reviews

  • The key objective is to conduct deep dive end to end risk-based reviews to assess the process, key risks and identify 1 st level controls which mitigate the risks and ensure business compliance with Bank Policy/Procedures and regulatory requirements.

    The 2 nd Level Controls and Testing team (Compliance Monitoring and Testing team) in London is primarily responsible to cover SG Wholesale Banking activities ( MARK, CORI, GLFI, MCIB, GTPS, SGSS, GBS...) in the UK (SG London Branch, SG International Limited, Descartes and Lyxor UK).

    The Head of CPLE/CTL/LDN has delegated supervision of Regulatory and FCC Thematic Reviews to 4 Managers who cover respectively the following business perimeters, but not limited to:

    • Regulatory Compliance - Global Markets (MARK), Private Side [CORI, GLFI and Research (MARK/GRS)], Descartes Trading LB and Lyxor UK,
    • Regulatory Compliance - SG Securities Services (SGSS) and CASS across SGLB, SGIL, GBS (Tax and Data Protection)
    • FCC (AML, Sanctions and Embargoes, ABC and Tax Evasion) - across all BU and SU
    • Level 2 controls testing / Monitoring reviews - across all BU and SU

    The 2 nd Level Controls and Testing team in London will also only be responsible to cover EMEA entities in South Africa, Switzerland, Turkey from 2020 onwards - in accordance with the timetable agreed with DGLE/CPT and communicated to the ECB.

    Summary of the key purposes of the role

    To conduct Financial Crime Unit (FCU) risk-based reviews and include but limited to:

    • Assist Manager to develop and deliver the annual risk-based control plan pertaining to the Manager's perimeter
    • Leading, managing, execution and delivery of end to end thematic reviews and Monitoring reviews (including planning, fieldwork, reporting, issue validation)
    • Build strong relationship with Paris CTL team and work collaboratively with Global CTL teams to ensure that a robust Monitoring plan is develop and all 1LoD formalised controls in scope are tested
    • Manage and build trusting relationships with stakeholders
    • Ensure timely tracking and resolution of CTL's recommendations pertaining to the Manager's perimeter
    • Ensure timely implementation of internal/external audit and regulator's recommendations assigned to CTL

    Summary of responsibilities

    Development of the annual control plan

    • Assist team lead to develop risk based annual plan by reference to meetings with Business and Compliance stakeholders on the one hand; and the results of the compliance risk assessment and other relevant indicators on the other hand (e.g. Regulatory Agenda, Past Regulatory Examinations, reviews and Internal Audits, etc.)
    • Assist team lead to develop annual Monitoring plan by reference to 1 st level control repositories (e.g. GPS, Serval, Morse Plus etc.), meetings with Business and Compliance stakeholders, utilizing Generic control plan and other relevant indicators (e.g. Regulatory Agenda, Past Regulatory Examinations, reviews and Internal Audits, internal compliance incidents etc.)
    • Develop understanding of full testing universe for the perimeter (e.g. activities, business, products, systems, people, legal entities, key regulations etc.) and ensure risk-based control plan is built considering full testing universe
    • Engage regularly and proactively with all the key business, compliance key stakeholders in a timely manner as part of business monitoring to ensure control plan is robust to focus on higher risks

    Delivery of the annual risk-based review plan

    • Accountable to plan, execute and deliver assigned reviews on schedule and in accordance with CTL standards and methodology;
    • Deliver high quality reviews, scope of the review is adequate to cover all key risks, test key controls to ensure the process put in place comply with the Regulatory, Bank Policy and Procedure requirements;
    • Working papers: Complete all working papers and get them reviewed and approved by the team lead before publishing the reports;
    • Reports: Draft high quality of review reports with minimal supervision, description of issues should include all relevant details, risks and impact should be stated, root cause is identified, action plan and deliverables are well thought to ensure they mitigate risk and root cause, target dates agreed are reasonable and practical for action owners to deliver the corrective action plans;
    • Submit draft reports to, and get clearance from, the Head of CPLE/CTL/LDN and the Compliance Risk Clearance Forum (CRCF), where relevant, prior to issuance and communication to the relevant business and Compliance stakeholders;
    • Manage distribution of the review report to the relevant stakeholders and the recording of the recommendations in the database;
    • Ensure timely tracking of CTL's recommendations and provide updated status in the recording database monthly. Escalate promptly any issue or bottleneck to the Head of CPLE/CTL/LDN where there is a risk of delayed implementation or push back from the business line or Compliance stakeholders;
    • Issue validation: Approve all corrective action plans validated by the team as per the methodology to ensure the risk is mitigated;
    • Timely escalate any risk/issue or bottleneck to the Head of CPLE/CTL/LDN, as required;

    • Provide periodic updates of the review status in weekly team meetings and update the team's activity report monthly. Comment on key risks/issues identified and highlight any risk of slippage, or provide justification for slippage, if the anticipated delivery schedule is not going to be met

    Engagement with business line and Compliance stakeholders

    • Provide proactively regular updates to key business and Compliance stakeholders on the progress of the annual risk- based Compliance review plan and the risks/issues identified (including attendance to relevant business meetings or governance committees and production of deliverables)
    • Maintain updated knowledge and documentation of the business line activities as well as its strategic developments and projects
    • Attend BU/SU ExCo, Governance and Risk Committees, OCR, where delegated by the team lead, to present review results, plan progress and status of open and overdue Corrective Action Plans (CAPs)

    Engagement with internal/external audit and regulators

    • Ensure timely implementation of internal/external audit and regulator's recommendations

    • Anticipate the risk of delay and negotiate deadline extension to minimise the risk of falling overdue, if need be

    • Assist internal/external auditors and regulators during their investigations, as required

    Other responsibilities

    • Maintain a detailed and updated working knowledge of the FCC regulations (AML, Sanctions, ABC, Tax Evasion), Industry best practices and guidelines (JMLSG, Wolfsberg, FATF etc.), UK, French, EU and OFAC regulatory requirement

    • Perform or supervise the team's permanent supervision controls, as required

    Level of Autonomy and Authority

    The incumbent will have to manage autonomously the responsibilities set out in this job description to deliver the annual plan and assigned reviews. The incumbent should escalate any high risk/issue or bottleneck in the execution of the annual plan without delay to the team lead.

    All our positions are open to people with disabilities



    Technical knowledge

    • Working knowledge of FCC regulations (AML, Sanctions, ABC, Tax Evasion), Industry best practices and guidance (Wolfsberg, JMLSG, FATF etc.), FCA rule book, French, OFAC and EU regulations
    • Working knowledge of Global Capital Markets and Investment Banking operations and products (including Markets, Global Finance, structured financing, debt and equity offerings and advisory services related to M&A)
    • Solid experience of developing and delivering risk based Regulatory Compliance annual plans
    • Experience of managing and delivering end to end Regulatory Compliance reviews for Markets and Private side
    • Excellent report writing skills and building trusting relationships with stakeholders in a global organisational structure

    Key Competencies / Skills

    • Excellent report writing skills, effective communication skills to articulate data into a meaningful information (Executive summary) to assist Senior Management
    • Effective stakeholder management skills to deal with wide range of stakeholders at all levels (including senior stakeholders)
    • Attention to details to ensure accuracy and completeness of deliverables produced, strong analytical mindset to analyse data and effective problem-solving skills to work autonomously
    • Multi-tasking, resilience, think outside the box and adaptability to change
    • Strong project management skills to deliver results and should be able to manage multiple priorities i.e. multi-tasking

    Operational Skills

    • Ability to communicate and interact with colleagues at all level of seniority effectively
    • Ability to prepare presentations effectively and in a timely manner
    • Ability to work in project mode and manage time boxed deliveries

    Aptitudes for the role

    • Ability to make decisions autonomously, think outside the box and Innovative
    • Project management and work under pressure to deliver as per agreed timelines
    • Analytical & problem-solving skills
    • Negotiation, Influencing and Presentation skills
    • Flexibility, adaptability, fast learner and quick thinker
    • Time management skills
    • Listening skills, Team player & leadership qualities
    • Team player & coordination qualities

    General Competencies

    • Negotiation skills
    • Presentation skills
    • Stakeholder management skills
    • Report writing skills
    • Analytical & problem-solving skills
    • Time management skills
    • Team player & leadership qualities

    Ability to make decisions autonomously


    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: 1900096P
    Business unit: SG CIB
    Starting date: Immediate
    Date of publication: 01/07/2019

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