The profile of Operational Taxes has seen an exponential increase in recent years as governments globally react to the current financial crisis and look for ways to grow revenues. The increase in tax activity around the globe requires Operations to implement new processes to support these taxes.
This is an exciting opportunity for someone who would like to make a direct contribution in managing operational tax risk within the Firm. This role is unique in the Industry, and sets the standard for how the Industry will manage operational tax risk in the future. Located within the International Tax Utility (ITU), this multi-faceted Tax Risk & Advisory role provides exposure to all parts of the business including Cash Equities, Fixed Income, Derivatives, Wealth Management, Prime Brokerage and Commodities.
The candidate will need to be skilled in influencing and making an impact as the role requires interaction with different teams across Operations, Business Units and Corporate Tax. At a macro level, the role requires the candidate to review existing operational tax processes, analyze the operational tax impact of tax changes and new business proposals and be able to influence the implementation of change, in a fast paced environment.
- This role is responsible to perform the processing function for all aspects of HK stamp duty regulatory reporting and make Hong Kong stamp payments to the Hong Kong Stock Exchange and the HK Inland Revenue Department;
- The role is also involved in assisting with HK stamp process renovation and any ad hoc queries / system testing reviews.
- Analysis of tax related exception reports, investigations around breaks and identification of the root cause;
- To provide tax related operational support in response to queries coming from the business and/or clients in respect of Asian transaction taxes including securities transaction taxes, withholding taxes and capital gains taxes;
- Develop knowledge in taxation requirements, process and systems for a number of Asian operational transaction tax procedures;
- Process and procedure documentation, review and maintenance;
- Partner with the other tax utility teams to streamline global operational tax processes.
- Minimum, 2 years of experience in an Operations role, with good understanding of one or more business areas, e.g. Equities, Fixed Income, Listed and OTC Derivatives;
- Previous experience in dealing with HK stamp duty and other Asia operational tax processing is useful;
- Strong attention to details;
- To thrive in a teamwork environment, strong interpersonal skills;
- Operational mindset focusing on improving operational tax processes and procedures;
- High level of ownership and accountability;
- Service orientation, sense of urgency, ability to manage internal clients expectations, follow-through and professionalism; and
- Strong analytical skills with an ability to understand complex workflows.
- Strong communication and organizational skills
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