At Societe Generale, you will be joining the Global Markets division (MARK) of SG Corporate and Investment Banking. MARK offers a cross-asset approach along all its offerings : Research, Investment & Risk Management Solutions, Execution and Prime Services to asset managers, pension funds, companies, private banks, insurance companies, hedge funds, family offices, sovereign funds and distributors worldwide.
Description of the Business Line or Department
MARK COO NCG is the Operational Risk Department covering Market activities within the Wholesale division of SG Group
MARK/COO/NCG is part of a wider 3-line of defence model :
- 1st line of defence is composed of all MARK staff and especially MARK managers, who own and manage operational and conduct risks and are supported in this mission by dedicated teams in NCG
And is completed by ROCS department who is dedicated to 1st line of defence for GBS support functions (such as OPER, MACC, ITEC) as well as on some transversal topics such as IT and cyber-security
- 2nd line of defence is composed of Risk (RISQ/OPE), Compliance and Finance, who oversee the overall operational risk management framework from different angles
- 3rd line of defence is ensured by Internal Audit and Inspection, who perform independent and periodic reviews
MARK/COO/NCG ensures – as concerns non-financial risk matters – the management and the global consistency of:
- Norms (policies, rules, procedures)
- Controls (1st line of defence, including FBK/Watch, permanent supervision and anti-fraud)
- Governance (definition of rules, design of controls, analysis of control results)
- Processes and tools
- Provides the necessary support to MARK managers (and MARK/FIC) to manage and mitigate their operational and conduct risks
- Gives a comprehensive yet readable view of op and conduct risks in MARK activities
Focus on ORCM role
The ORCM is under supervision of (and reports hierarchically to) NCG Global Head and has a functional reporting line to BL Heads (with possibility to delegate this role to the COO BL Head).
The ORCM is the main entry point for its Business Line (MARK/FIC) on all operational and conduct risk topics (key operational risk processes such as RCSA or incidents management, anti Fraud, information security, business continuity issues, essential services…), and on the follow up of the Managerial Supervision.
In this context, he should assist the Business Line in the identification and management of its main operational risks, set up the relevant remediation plans and if requested challenge the risk acceptance the business line would endorse (via governance around the OCR, daily contacts on : operational incidents, LoD1 Conduct matters and production tasks linked to Op Risk and Conduct aspects...).
In his role, the ORCM could perform some business production / facilitation tasks, such as an optimal monitoring of the console risk, maintaining repository of access granted per application to FO users, or handling of market access request … and, participates in various projects that may impact the business line under its supervision. One of his primary role is to improve these different processes and to put in place an optimal control framework
The ORCM must also ensure that the first level control framework on operational risk is relevant and effective, in particular by means of performing quality reviews or carrying out when necessary control/process review initiatives.
The ORCM could be responsible for performing some permanent supervision controls and as such shall make them evolve taking into account the regulatory requirements. His knowledge of the business should lead him to propose continuous improvements in a context of pressure on costs.
Eventually, he/she must ensure that the processes and organization in place on the operational risk (incident reporting, RCSA, etc.) comply with the standards of the group (RISQ / OPE) and the specific directives for Wholesale banking in the most efficient manner possible.
It must also comply with internal rules, in particular the Group Code of Conduct and local regulations
Summary of the key purposes of the role
Main Mission: help to implement and maintain the Operational Risk framework over the EMEA MARK FIC perimeter, and to facilitate the business activity, acting as a contact point for sales & traders' queries relating to support and control, and helping to control and supervise activity.
In particular, to enable
• Risk culture with FIC FO operational staff
• Continuous assessment of risks
• Deployment of appropriate controls
• Timely and complete escalation, reporting, and follow up of incidents and resulting actions
• The maintenance and reporting of effective Key Risk Indicators and other qualitative measures
• Close cooperation with other departments within MARK/COO NCG, particularly over Anti Fraud / Rogue trading expertise, Business Continuity topics, and Information Security and other ROCS departments as well
• Accurate coordination with the other Line of Defence (LoD2 and LoD3)
• Business production / facilitation tasks, such as monitoring of the Risk Console, maintaining repository of access granted per application to FO users, or handling of market access request …
Participate to provide reporting to MARK FIC BL regarding Operational Risk, Conduct risk and Permanent Supervision.
To report on the above to the Global Head of MARK COO NCG ORCM for FIC and CTY.
Summary of responsibilities
To conduct the above, the main areas of focus will be:
• Operational Event collection and reporting in Caroline or other related tools
• Ensuring appropriate channels for Incidents to be reported to you from MARK FIC or other stakeholders within EMEA
• Follow up of appropriate Operational Risk Indicators for MARK FIC EMEA
• Contributing to BIAs analysis (Business continuity management)
• Ensuring Business production / facilitation tasks, such as maintaining repository of access granted per application to FO users, or handling of market access request …
• Performing some permanent supervision controls
• Following up on the qualitative and quantitative performance of Permanent Supervision and FBK controls within MARK FIC in EMEA
• Participating to the NCG governance toward the BL, by for instance (but not only) building appropriate reporting based on Operational risk and Permanent Supervision data (including KPI, RCSA results, …)
To facilitate the examination of your application by our English-speaking managers, we thank you for
applying in English.