Tax Lead - PvB, Wealth Management and Commercial Bank
This role has two primary purposes:
- Provide tax support to the PvB, Wealth Management and CB businesses and ensure that the tax risk arising from business activities is well controlled and remains within risk appetite.
- Provide support to Regional Tax Lead and Country Tax Teams in ensuring that tax risk within ASEAN is well controlled and remains within risk appetite together with support to other CIB and Client Businesses in ASEAN where required.
- Set the tax risk appetite for the PvB, Wealth Management and CB businesses within group parameters.
- Influence the PvB, Wealth Management and CB businesses strategy and related entity, liquidity and capital management strategies to take an after-tax view.
- Influence development of tax policy and enacting legislation relevant to the PvB, Wealth Management and CB businesses that is sustainable and achieves the policy objectives with minimum compliance and collateral costs.
- Build general awareness of tax issues, risks and the importance of tax within the business and amongst senior stakeholders
- Management of Stakeholders - prompt, concise advice and timeliness in advice.
- Facilitate PvB, Wealth Management and CB businesses transactions (and support to the businesses as required) - provide prompt, concise advice and practical solutions such that the business is able to transact in a timely manner and takes tax costs/ risks appropriately into account.
- Maintain relationships with key business & relevant associated stakeholders.
- Oversee the provision by external advisers of business tax advice to business.
- Ensure tax clauses in standard terms and an effective exceptions process operates.
- Proactively identify and execute on value opportunities that are consistent with the Group's Approach to Tax and Tax Policy.
- Sign off tax aspects of formal approvals such as global product programmes or business specific change in structure forms.
- Support Regional Tax Lead in ensuring impact assessments are undertaken where required for tax law changes with a material impact on the business tax profile within ASEAN.
- Proactively keep on top of tax developments & keep relevant business and associated stakeholders informed of significant impacts of these developments where relevant.
- Support Regional Tax Lead and Group/Country tax teams in the management of tax audits and controversies.
- Work closely with Country tax teams and Tax Specialist groups (Indirect, Transfer Pricing & CTIC teams) to provide support to businesses.
- Operate tax compliance processes for entities with an accountable executive within PvB, Wealth Management and CB businesses (and other businesses where required), where agreed under the Tax Procedure.
- Complete tax risk assessment for the PvB, Wealth Management and CB businesses and other ASEAN business / product level where required.
- Ensure control assurance framework is sufficient to maintain tax avoidance risk within risk tolerance and to identify relevant tax compliance obligations, including transfer pricing and indirect & transactional taxes to the relevant process owner or specialist (where applicable).
- Deliver training to business and related control functions to support compliance with the Tax Procedure - Business.
- Ensure judgemental decisions regarding application of the Group's Approach to Tax and Tax Policy to transactions are appropriately escalated with a recommendation.
- Provide subject matter expertise to Financial Crime Compliance, as requested, with regard to tax evasion aspects of financial crime compliance impacting PvB and CB client Segments.
- Assist Country Tax teams where required in discharging Tax RO responsibilities for ASEAN countries in accordance with the Tax Procedure.
- Take personal responsibility for understanding the risk and compliance requirements of the role and communicating the same to the team. Understand and comply with, in letter and spirit, all applicable laws and regulations, including those governing anti-money laundering, terrorist financing and sanctions; the Group's policies and procedures; and the Group Code of Conduct. Effectively and collaboratively identify, escalate, mitigate and resolve risk and compliance matters.
- Embed the Group's values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.
COMPETENCIES (KNOWLEDGE & SKILLS):
- Significant post qualification international tax experience including direct experience of product/ transaction focused in-house Banking role
- Excellent stakeholder management skills, able to simplify complex tax matters for business stakeholders
- Capability to make sensible, real-time commercial and risk judgements and provide practical solutions
- Track record of delivery in a complex, global environment, including delivering the tax organisation on multi-jurisdictional transactions
- Credibility and communication skills to influence relevant tax policy development
- Capable people manager with excellent leadership skills and the ability to engage across a network located in multiple locations
- Hands on experience supporting private bank, wealth and management business activities and related products would be well regarded.
- Knowledge of international tax legislation particularly within ASEAN generally together with a good understanding of banking products & regulation is crucial. Knowledge of UK tax law would be well regarded.
- Knowledge of individual income taxation and experience together with experience dealing in tax evasion related reviews including relevant experience in UK Criminal Corporate Offence and AML Tax evasion regulations would be highly regarded