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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/PRM) to manage and mitigate their operational and conduct risks
- Gives a comprehensive yet readable view of operational 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/PRM) 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.
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 :
·to assist ORCM in on-going transformation and externalising projects to improve Operational Risk framework over the EMEA (UK + Paris) MARK PRM perimeter, focusing on
·automatization of existing key processes within ORCM team
·ensuring procedures are well defined and documented
·tasks are externalised and running successfully
·to assist ORCMin acting as a contact point for PBC FO and COO queries relating to support and control, and helping to control and supervise activity, in particular:
·Risk culture with PRM 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
·Preparation of conduct and operational risk dashboards for committees
Summary of responsibilities
To conduct the above, the main areas of focus will be:
·Work on streamlining manual reports and various dashboard production for the Business Line using VBA and other excel functionalities
·Monitor performance of permanent supervision controls in GPS
·Document permanent supervision control procedures for NCG; assist in externalising control performance
·Operational Event collection in T2eorem: daily management of unassigned error lines
·Participate in incident discussion meetings
·Monitor action plans in various event collection tools
·Assist in managing a release of a new tool for collection and declaration of operational events
·Assist in performance of Risk and Control Self Assessments (RCSA's) over the EMEA MARK PRM scope.
·Perform the Outsourced Essential Services (OES) yearly assessment (if relevant)
·Contributing to Scenario Analysis in coordination with RISQ/OPE
·Assist with business facilitation tasks, such as monitoring signature of desk mandates and handbooks, coordinate and help to resolve online training queries, help BL COO/ FO to update internal procedures, etc
·Performing some permanent supervision controls
·Assisting ORCM with some daily BAU/ Ad Hoc topics
Level of Autonomy and Authority
Low to Medium degree of autonomy