Global Markets Financial Crime Officer
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. Mission Description of the Business Line or Department
Mission Statement of Wholesale Compliance:
"To enhance and maintain a robust compliance framework, in partnership with all stakeholders, to execute the firm's strategy in accordance with its risk appetite, regulatory expectations and industry best practices".
In order to achieve its mission statement, Wholesale Compliance activities are centred around five key objectives, in support of senior management, business lines and resource functions, where the business lines have first level accountability and responsibility, and where Wholesale Compliance's responsibility is with respect to compliance, reputational and conduct risk matters.
These five key objectives are as follows:
Summary of the key purposes of the role
- Providing advice and policy development
- Facilitating knowledge and awareness
- Undertaking monitoring and surveillance activities
- Performing risk assessment, review and control activities
- Managing the relations with regulators
The Financial Crime Unit ('FCU') is part of the wider Compliance function. It is responsible for providing advice and guidance to business management for the Société Générale investment banking business in London- (Société Générale London Branch ("SGLB"), Société Générale International Limited ("SGIL"), Lyxor Asset Management UK LLP and Descartes Trading SA - collectively "SG London") on the financial crimes risks faced by their business and providing an oversight function on the effectiveness of mitigation controls and processes. The key purposes of the role are to:
Summary of responsibilities
- Assist with the implementation and management of the anti-financial crime strategy within the UK covering anti-money laundering, terrorist financing, bribery and corruption and economic sanctions;
- Work with the Head of the Financial Crime Unit and other members of the team to maintain and further enhance SG London's financial crime compliance programme in line with SG Group Instructions relating to financial crime matters and UK legal and regulatory standards;
- Act as the lead Financial Crime Officer for the Global Markets business line ("MARK") covering both SGLB and SGIL activities. Ensure that the Financial Crime agenda and control framework is a priority within MARK governance framework and with MARK senior management.
- To act as line manager to the staff within the FCU unit dedicated to MARK, managing their day to day workload. Ensure that this is undertaken in a manner that is risk focussed and with appropriate prioritisation.
To take responsibility for the following:
Level of Autonomy and Authority
- Act as the team lead for MARK for financial crime queries, ensuring the FCU provide advice on a timely basis. Provide financial crime and regulatory advisory services to MARK and the relevant support/operational functions, ensuring that the advice provided is suited to the needs of the business line;
- Act as a SME for MARK products and services. Provide support, advice and guidance to the compliance function.
- Assist in the implementation of a financial crime governance structure with MARK management, including attending periodic committee or forum meetings. Engage with senior management across MARK covering financial crime risk;
- Contribute to the development of the broader Compliance strategy and Financial Crime Plan. Liaise with SG Group Compliance in Paris in respect of that strategy;
- Advise MARK senior management on the planning, review and design of financial crime controls and monitoring;
- Working with the FCU monitoring team, CMS and the front office to ensure MARK suspicious activity is sufficiently monitored;
- Proactive and timely escalation of issues to the Deputy Head of FCU, ensuring regular and frequent communication on such issues;
- Ensuring that AML and KYC policies comply with UK requirements within SG London. In addition, to liaise with the SG Group Compliance function in Paris in respect of these policies;
- Providing advice, direction and training to the KYC function and approving higher risk clients referred by the KYC team to the FCU;
- Submitting reports to NCA and FCA, as required, and management of the follow-up process, to ensure that the responses from such external agencies is appropriately applied, maintaining all associated records in accordance with legal and regulatory requirements;
- Ensuring financial crime considerations are appropriately considered as part of the New Product Committee process, and influencing the approval or otherwise of new products;
- Implementing and maintaining appropriate management information; including assistance in the completion of an annual report to senior management on the operation and effectiveness of the SGCIB UK's AML systems and controls;
- Developing and overseeing relevant training to stakeholders. Identifying training and development needs of line managed staff;
- Proposing and contributing to the promotional and remuneration prospects of assigned staff;
- 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 and that relevant benchmarking is undertaken and played back within Société Générale as appropriate;
- Risk Assessment- Management of the proactive participation in the maintenance of 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;
- 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;
- Liaising with Paris and other Compliance staff in overseas centres as required, and providing support in understanding the financial crime and regulatory risks from a UK perspective;
- Uphold the 11 FCA Principles for Business and the 7 Statements of Principle for Senior Managers in order to promote a culture of compliance and treating customers fairly within SG London;
- Maintaining a detailed working knowledge of the FCA rules and regulations, and UK AML, ABC and embargo and sanctions related legislation, and a broad awareness of AMF, ACPR and other regulatory and exchange rules and regulations as required;
The role involves acting with initiative and autonomy, where appropriate, ensuring proactive upward reporting of relevant issues, as well as seeking guidance and advice as required.
The job holder is responsible for ensuring delivery of financial crime advice to MARK stakeholders. Regular meetings with the stakeholders are required.
The role involves autonomy on a day-to-day basis and requires active liaison with management as appropriate.
The job holder must refer to his management for decisions relating to more strategic and organisational matters. Profile Competencies
- Flexibility- Adaptability
- Ability to make decisions
- Ability to Work Under Pressure
- Leadership Qualities
- In-depth working knowledge of FCA and other regulatory rules
- In-depth working knowledge of financial crime related legislation
- Knowledge of EU directives relating to financial services, as well as broad knowledge of AMF and ACPR rules
- Expert knowledge Global Markets products and services.
- 8+ years compliance experience relating to Financial Crime in Global Markets