Market Operations Compliance & Control Analyst

Market Operations Compliance & Control Analyst

• Location: Bruxelles, Belgium
• Job type: Permanent, Full time
• Hybrid working model
• >20% of travel within Europe

About the job

At Sanofi we chase the miracles of science to improve people’s lives. We are dedicated to making a positive impact on the lives of the patients and families we serve, and we accomplish our goals through world-class research and with the compassion and commitment of our employees.

As we continue to transform the practice of medicine, the next chapter of Sanofi’s Play to Win strategy will require a focus on delivering transformation and simplification of our core processes, optimizing resource allocation and deployment to fuel business growth and investment in science.

Global Treasury Operations is a Key department within the Financing, Treasury & Insurance function.

It offers best-in-class Global Treasury Services for the Sanofi Affiliates including

• Effective centralization and management of the Global Liquidity,
• In-House Bank & Payment Factory services,
• Compliance and Control of Market Transactions managed by Treasury Front Office/Capital Market department on all Sanofi asset classes

Within Global Treasury Operations, Market Operations Compliance & Control (Treasury Back Office) plays a critical role in terms of control of Market Transactions managed by Treasury Front Office/Capital Market department on all Sanofi asset classes. The stake and importance of that role has been reemphasized over time given strengthened EU and US regulatory environment, which in addition to the existing Sarbanes Oxley control framework, aims at limiting financial markets systemic risks. It is also responsible for the timely and accurate settlements of Treasury Transactions with the different banking relationships and is responsible for maintaining best in class Treasury processes, procedures, and control environment.

It manages controls over about 5 thousand External and Interco Treasury Transactions a month and 14 banking relationships.

Main responsibilities:

Performing Market Operations Compliance & Control recurring activities

• Daily control of the exhaustiveness, accuracy and conformity of the Treasury Transactions initiated by Capital Market/Front Office team (MMF, short term deposits, certificates of deposit, repo’s, bonds, Euro & US commercial papers, FX spots, forwards, swaps on about 40 currencies, interest, and cross currency swaps, NDF’s, …) as well as of the Treasury Transactions with Internal Counterparts by ensuring:
  • Reciprocity with Counterparts (in line with different contracts ISDA, authorizations, …)
  • Internal validations and adherence to Sox control framework, Sanofi policies and guidelines
• Daily management and monitoring of financial instruments related settlements according to banks standing settlement instructions and cut-off times as well as monthly closing timelines
• Effective follow-up of litigations with banking relationships
• Daily reporting and control of the counterparty / financial instruments exposures and monitoring of such exposures vs. defined limits
• Monthly reporting on treasury activities and Ad Hoc reporting
• Set-up and maintenance within treasury management system of Treasury Counterparts; including set-up of standing settlements instructions to ensure correct recording and settlement of financial transactions
• Development and maintenance of treasury policies, processes, procedures, systems, and control environment in line with best practice
• Manage the Market Operations Compliance & Control internal / external audit processes and engagement with auditors
• Working collaboratively with other Treasury departments, acting as an escalation point for unresolved issues, provide specialist financial support

Supporting transverse projects

• Assuming responsibility of Market Operations Compliance & Control business continuity plan
• ongoing monitoring (with the support of Sanofi Legal team) & implementation of regulations on financial instruments changes impacting Back Office activities and especially concerning confirmation, lifecycle & reporting

Acting as Key User

• Identify and escalate pain points that may be subject to process improvement and share best practices
• Identify gaps vs. existing practices, regulatory constraints, and local process dependencies
• Ensure continued focus on process improvement, increased automation of activities and the elimination of non-value-added activities
• Support process exception arbitration when needed and propose process workaround
• Review process design when applicable
• Update internal control framework
• Support and Sign-off on new process testing’s (UAT)
• Participate to the change management plan
• Contribute to Systems upgrades as required

About you 

The successful candidate will have in-depth knowledge and experiences in the following areas:

• Minimum 3 years of professional experience in Treasury multinationals (Back Office, Cash Management, In-House Bank, Treasury Accounting) within Bank / Corporate Treasury
• Demonstrated knowledge of treasury functions, debt capital markets, and financial instruments
• Understanding of financial controls and compliance frameworks
• Experience with Sarbanes-Oxley is an asset
• Experience with Treasury Management Systems (SAP, Others)
• Experience with electronic banking systems / SWIFT /Payment Practices
• Proven track record in dealing with complex issues proactively and in a timely fashion, along with the ability to make well informed and appropriate decisions and to communicate complex information to others
• Languages: fluent in English and French; any further language is a plus

Personal Characteristics

• Analytical Mindset : Exceptional attention to detail with ability to identify discrepancies
• Problem-Solver : Proactive approach to resolving complex issues
• Communicator : Excellent ability to explain complex financial concepts clearly
• Team Player : Collaborative approach with strong interpersonal skills
• Adaptable : Ability to manage multiple priorities and deliver under pressure
• Innovative : Continuously seeking process improvements and efficiencies

EDUCATION

• At least bachelor’s degree in finance / economics or similar
• A certificate in Treasury is a plus