Compliance Officer, Financial Crime (Thematic Review and QA)
Société Générale - UK
April 5, 2018
London, United Kingdom
Description of the Business Line or Department
Mission Statement of SG 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, Compliance activities are centred on 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 Compliance's responsibility is with respect to compliance, reputational and conduct risk matters.
These five key objectives are as follows:
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
Summary of the key purposes of the role
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 SG investment banking business in London (SG London Branch, SG International Ltd, 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 is:
To 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;
To 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;
To act as the team lead for monitoring of financial crime controls, conducting Quality Assurance and Thematic reviews as appropriate.
Summary of responsibilities
To assist the Head of the Financial Crime Unit or take responsibility for the following:
o Using a Risk Based Approach to identify areas that require enhanced monitoring and deep dive analysis. This should be through a combination of regulatory/industry guidance, assessment of the business/controls to identify specific high risk areas, and review of risk assessments to identify areas of weakness.
o Set the financial crime monitoring programme for each year determining subject matter and frequency of review.
o Work closely with stakeholders to obtain information required for the reviews.
o Ensure all Quality Assurance and Thematic Reviews are completed in a timely manner.
o Construct clear and concise reports highlighting the analysis undertaken, issues found, recommendations, remediation points and any required deadlines/timeframes.
o Timely escalation and presentation of issues found to the Head of the Financial Crime Unit and to impacted stakeholders.
o Create and maintain issue logs for both Thematic Reviews and Quality Assurance, to track progress and any specific remediation points.
o Follow up with stakeholders to ensure reviews and remediation points are completed, and any set deadlines/timeframes are met.
o Ensure significant issues found through Thematic Reviews are a trigger point consideration for Quality Assurance testing. Conversely ensure significant issues found through Quality Assurance testing are a trigger point consideration for Thematic Reviews.
o Responsibility for the management of the department's permanent supervision GPS controls, including the periodic review of the controls in place to determine their suitability, necessary enhancements, or any additional controls that are required.
o Maintain 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.
o Maintain a detailed working knowledge of SG's AML and KYC policies and procedures.
o Attendance at industry forums, working groups, seminars, trade associations and other industry bodies, keeping informed of regulatory developments and change to assist in setting the Thematic Review programme.
o 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 SGLondon UK
o Actively promote the business principles both within, and externally to, the Compliance Department
Level of Autonomy and Authority
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
Ability to make decisions
Ability to Work Under Pressure
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
5+ years compliance experience with specific focus on Thematic Reviews and Quality Assurance
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.