Société Générale is one of the major Banks in Morocco, has been operating in Morocco for more than a century and is resolutely committed to a long-term and sustainable development strategy, conducted to serve the national economy, to contribute to the country’s growth and to support the dynamics of bank penetration.

The Middle Office has many roles :
– Monitoring compliance of trading with regulations (examples: market abuse, insider trading, late trading, anti-money laundering, etc.) Control of traders’ compliance with their commitment limits by market, product, counterparty, currencies, geographical areas, etc.
– Identification and updating of third-party databases, in order to avoid fictitious or fraudulent operations; Then, transmission to the Back-Office to proceed with confirmations, contractualizations and payments/deliveries;
– Daily Front/Middle/Back reconciliations, in order to ensure the completeness of the commitments, relating to: The confirmations received, Transaction statements (IFAT, securities, corporate actions, etc.), Cash movements by currency, The positions of depositories and correspondents.

As part of the release of a series of new financial products in the trading room, the bank needed an internal control that would manage these aspects

Monitor activity and provide desk managers with P/L results reports, by product, by trader, by market or geographical area; the whole allowing to guide the decisions of the Managers and the General Management. Implementation of processing schemes for new products: arrangements combining OTC instruments and positions on organized markets. Optimize internal processes and processing resources create new tools and procedures, based on technical monitoring (market context, risks, products) and regulatory monitoring (AMF, ACP, EU, international).

We understood the need and accompanied the client on these different aspects at the beginning on a reduced perimeter and then on an increasingly large perimeter.