Tax Operations Associate

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Morgan Stanley
  • 16 Jan 18 2018-01-16

See job description for details

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.
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 highly 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, analyse 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.

Primary Responsibilities:
- 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, New Product Approvals that have Hong Kong stamp implications and undertake various other tax processes;
- 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.


Skills Required:
- Minimum, 4 years of experience in an Operations role, with as solid 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