Trainee - Compliance - Regulation & Policy

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 functional remit of the Regulation and Policy (RAP) team is UK Wholesale Banking, as part of the wider UK Regulatory Compliance team. It is based in London and comprises a strong collaborative model with equivalent teams in the Group’s Wholesale Banking regions (AMER, ASIA, EMEA), Group Compliance, as well as UK Legal and UK Governance colleagues.

The RAP team’s UK Wholesale Banking scope encompasses Societe Generale London Branch (SGLB) and Societe Generale International Limited (SGIL).

The key objective of this position is to support the delivery of the RAP team’s mandates. This calls for:

• A keen interest in the Wholesale Banking industry, Societe Generale’s activities in the UK and a general understanding of corresponding UK regulatory obligations, particularly in the context of UK/EU regulatory divergence; and participation in regulation and policy projects.
• The ability to support the RAP team’s regulatory horizon scanning, impact assessment and regulatory interpretation engagements, and the ability to identify the impacts of these upon UK Wholesale Banking Compliance policies, procedures or other mandatory normative documentation.
• Proactive contributions to the RAP team’s policy and training activities, informed by a working understanding of Group-level equivalents and the synergies/differences between them.
• An appreciation of the governance and control frameworks in place to fulfil the UK Wholesale Banking entities’ regulatory obligations and close collaboration with the team’s stakeholders both within and outside of Compliance.

Summary of responsibilities

Under the supervision of senior members of the team:

• Supporting the RAP team with the horizon scanning, notification and action tracking of regulatory developments relevant to UK Wholesale Banking Compliance, including rule changes, evolving regulatory expectations and enforcement actions.
• Supporting the RAP team with the development of quarterly UK Wholesale Banking and Group-level committee presentations and management information reports covering mandatory normative documentation, regulatory development and training deliverables.
• Supporting the RAP team with the creation of the annual UK Wholesale Banking Compliance Training Development Roadmap and RAP-specific training development, including Compliance Induction, Key Compliance Principles and Complaints Handling modules.
• Collaborating with RAP team members to identify and implement innovative uses of existing technology, to achieve operational efficiencies in the RAP team’s regulatory development and policy management processes.
• Maintaining the RAP team’s committee and industry event participation Trackers.  Rotating the attendance of designated industry forums on regulatory developments with other RAP colleagues and presenting summaries of key discussion points.
• Developing a clear understanding of other UK Wholesale Banking Compliance coverage areas, Business Units, Service Units and products/services provided by the UK Wholesale Banking entities. Utilising on this knowledge to optimise the execution of day-to-day deliverables.

Profile required

Competencies

• Proven interest in financial regulation and the financial services industry
• A general understanding of UK regulatory principles and frameworks
• Ability to understand the role of Compliance and its interconnectedness with Risk Management
• Ability to apply policy governance standards and participate in daily horizon scanning for regulatory developments
• A willingness to proactively seek support and guidance, and to speak up where necessary
• Strong time management skills and a good work ethic
• Ability to communicate clearly, in writing, about key aspects of regulatory developments and their impacts
• Ability to contribute to management reports with accuracy and attention to detail
• Strong stakeholder management skills and the ability to collaborate productively with others
• Strong organisational skills, with the ability to accurately interpret and present information from a range of sources
• Ability to coordinate stakeholder actions and follow up on open points
• Extensive knowledge of Microsoft Office applications