Compliance function
Independent compliance structures have been set up within Societe Generale’s different businesses around the world whose role is to identify and prevent any risks of non-compliance.
At Societe Generale, the Group’s Corporate Secretary is the Head of Group Compliance (RCOG). He supervises all compliance structures and procedures with the help of a Group Compliance Committee (CCG) which he chairs and which meets every month. Alongside the Corporate Secretary, the CCG is composed of the various division Heads of Compliance (RCO), the Head of Compliance, the Head of Internal Audit, the Head of Internal Control Coordination and the heads of the relevant departments within the Corporate Divisions which include the Head of the Legal Department and representatives of the Group Risk, Finance and Resources Divisions.
The role of the Compliance Department is to provide the Group with high level expertise and to monitor its compliance risks. It assists the Group’s Corporate Secretary with the function’s daily management.
The RCOs of the various divisions usually come under the operational authority of the Head of Group Compliance. In divisions which present the most risk (SGCIB, GIMS), compliance structures and staff come under the hierarchical authority of the Group Compliance Department. The RCOs oversee the implementation of the Group’s governance and compliance policies within their remit. They contribute to the identification and prevention of compliance risks, the validation of new products, the analysis and reporting of compliance anomalies, the implementation of corrective measures, staff training and the promotion of compliance values throughout the Group. They notably draw upon a pyramid structure of business line or subsidiary RCOs under their hierarchical or operational authority and on business line or subsidiary Compliance Committees.
