Trainee - Compliance

Description of the Business Line or Department

The Group 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 across the entire Group. 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

Summary of the key purposes of the role

The role of the Business Management (BMO) team within Compliance is to support the Head of UK Wholesale Banking Compliance in:

• maintaining the organisation, governance and day to day operational functioning of the UK Wholesale Banking Compliance function
• ensuring that there is an appropriate level of formalisation for the Head of UK Wholesale Banking Compliance to demonstrate he took reasonable steps to prevent breaches and otherwise comply with his anticipated responsibilities as a Senior Manager (SMF16 Compliance Oversight), and
• escalating risks and issues within wider SG London and Group governance and management frameworks.

In particular, the BMO Team

• Ensures the maintenance and running of the UK Wholesale Banking Compliance governance framework and support the Head of UK Wholesale Banking Compliance in complying with his obligations under the SG London SM&CR Policy
• Ensures the effective operational functioning of the Compliance department in terms of budgets and financial control, operational and conduct risk breach recording management, facilities, access profiles and other technology support, follow up on IGAD and CTL recommendations, and the permanent supervision and wider control frameworks implemented in GPS, MyAPRC, and other relevant tools and systems
• Ensures an appropriate and sustainable Compliance reporting, communication, metrics and follow up framework is implemented to keep relevant stakeholders informed of the activities, output and risks identified arising from or coordinated/managed by the BMO team
• Administers and oversees regulatory reporting for SGLB. This includes oversight of the SGLB List of Regulatory Reports and ensuring timely submission of regulatory reports submitted in RegData.
• Coordinates the RCSA and COMPASS exercises for CPLE LDN and otherwise provide support as required on transversal topics/ad hoc projects

Summary of responsibilities

Governance

Ensure that a high standard of governance applies in the Compliance function, supporting the Compliance management in their understanding of the risks and the effectiveness of the oversight. This includes:

• Follow up on the monthly updates to governance tools used by Compliance for audit and regulatory recommendations, compliance incidents and breaches and client complaints, annual Compliance and Financial Crime Plan etc. including liaison with colleagues in Paris and Audit function
• Provision of regulatory updates when requested
• Supporting the coordination of business continuity reviews/assessments for Compliance
• Ongoing follow up, logging, escalation and reporting of conduct breaches
• Providing support over other Transversal matters when appropriate
• Provide support to SGIL Central Compliance on a variety of the governance topics mentioned above. Some responsibilities which are specific to support on SGIL include (but not limited to) logging Compliance incidents/breaches (including CASS breaches); managing activity logs for SGIL Central Compliance; updating project logs and inputs where SGIL Central Compliance is a project workstream owner.

Operational Risk Management and Compliance Risk Assessments

• Ensure the smooth functioning of the SG permanent supervision applications and provide support to Compliance users, liaise with application business owner / IT to resolve issues.
• Perform reviews of Compliance permanent supervision controls as scheduled. Escalate and / or provide status reports to management on an as needed basis.
• Support the Head of the BMO team in responding to request for ad hoc memos from the Head of UK Wholesale Banking Compliance and/or the SGLB Compliance Exco to support escalation of risks or issues to local and functional management.

Communications and Facilities:

• Support the Compliance team and control the access to technology systems used by Compliance.
• According to Compliance policy, facilitate requests from other parties, such as security passes, equipment changes, etc.

Budgets and Financial Control

• Facilitating the Compliance budget and reforecasts for the UK, including headcount, consulting, travel, etc.:
• Maintain knowledge of the Compliance policies relevant for cost management and control, e.g., business travel, gifts and entertainment, etc.
• Provide budget reporting as required.
• Provide financial summary reporting to UK management on a quarterly or as needed basis.

Management Information

• Generate various reports, primarily but not exclusively, for use by Compliance management, including conduct risk reporting, monthly management information packs and budget reporting.
• Provide support to SGIL Central Compliance in the production of various reports to support SGIL committees e.g. RCC, BRC etc.
• Other tasks and activities as requested by management.

Competencies required

• Attention to detail.
• Timely delivery of agreed objectives.
• Strong risk understanding.
• Good communication skills, both verbal and written (French is a plus).
• Affinity with investigating and resolving problems.
• Flexibility and adaptability.
• Teamwork approach.
• Empathy and ability to influence others.
• Microsoft office competence, especially Excel.
• Common-sense financial knowledge.
• Knowledge of Finance and Accounting is a plus.