Compliance Officer - Prime Brokerage & Clearing Advisory - Legal / Taxation / Compliance London - Great Britain
Description of the Business Line or Department
The primary responsibility of the Prime Services & Clearing ("PSC") Compliance Advisory team is to provide real-time compliance advice for the FX and Equity prime brokerage activity, and for the clearing business of listed and OTC derivatives. Such advice will be tailored to resolving issues with consideration to regulatory requirements, regulatory and firm risk and industry best practice, exchange and clearing house rules. The Prime Services & Clearing activity is carried out in Europe via a subsidiary of Societe Generale based in London, which is registered with the FCA as a limited investment firm. The PSC compliance advisory team has the challenging duty of applying group policies & procedures, leveraging on transversal compliance functions of London, being fully incorporated in the overall compliance organisation of Societe Generale in London, but should respect the specific governance of the subsidiary at any time when providing advice and escalating issues, and make sure that specific requirements applicable to the subsidiary are taken into consideration. Summary of the key purposes of the role
- Provision of pro-active regulatory advice and training to the Prime Services & Clearing business line and Control Functions relating to exchange and clearing house requirements, regulatory requirement and new business initiatives (new markets, new products, change in processes, etc)
- Collation of information and subsequent drafting of responses to Regulatory and Exchanges requests and investigations
- Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues; and draft, update and implement compliance procedures and guidance as necessary to avoid or deal with similar situations in the future. Leverage on and coordinate with other departments as necessary (such as the operational risk department) to achieve this objective.
Level of Autonomy and Authority
- Advise business areas on firm policies and procedures, regulatory requirements, exchange and clearing house rules and industry best practice.
- Take part to New Product Committee, and various project steering committees and provide compliance impact analysis of new business initiatives
- Identify new regulations, amendments of exchange and clearing house rulebooks, and developments that impact business areas, and advise staff as to how this may impact their current activities.
- Draft, update, and implement relevant compliance policies and procedures.
- Provide regulatory/compliance face to face training
- Collate information and subsequently draft responses to Regulatory and Exchange information requests, inquiries and investigations; Identify potential issues or weaknesses highlighted by such inquiries or investigations and coordinate with business, support functions departments and internal operational risk department so that a proper actions plan is implemented to mitigate risk and solve the issues.
- Investigate any complaint of customer, with the help of the operational risk department as necessary, and draft with the business line appropriate response to client
- Conduct the annual Compliance risk assessment of the business line following the methodology developed internally and propose some actions to mitigate the most significant residual regulatory risks as a result of such assessment - Such actions will form part of the compliance work plan
- Provide ongoing reporting to senior management
Profile Required Competencies
- The role involves autonomy on a day-to-day basis and requires active liaison with management as appropriate.
- The job holder makes decisions to daily tasks and to ensure support good progress on the deliverables of the team.
- The job holder must refer to his management for decisions relating to more strategic and organisational matters.
Why Join Us
- Experience in Financial Markets
- At least 3+ years compliance advisory experience for prime services, or for listed derivatives execution and clearing business required
- Knowledge of derivatives products and markets essential
- Strong knowledge of European listed derivatives exchange rules
- Strong knowledge of FCA and European regulatory requirements
- Having a critical eye and an analytical mind is essential
- High capacity to adapt constantly
- Excellent communication skills, Confident when interacting with employees at all levels
- Able to work in autonomy and in a proactive manner
- Being well organised
- Ethical behaviour
- Prior international experience is a plus
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. Business Insight
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.
All our positions are open to people with disabilities
Job code: 19000ONZ
Business unit: SG CIB
Starting date: Immediate
Date of publication: 12/09/2019