Operational Tax Officer - Jersey Operational Tax Officer - Jersey …

SOCIETE GENERALE Corporate & Investment Banking
in Saint Helier, Channel Islands, United Kingdom
Permanent, Full time
Last application, 18 Jun 19
Competitive
SOCIETE GENERALE Corporate & Investment Banking
in Saint Helier, Channel Islands, United Kingdom
Permanent, Full time
Last application, 18 Jun 19
Competitive
Operational Tax Officer - Jersey
Environment
People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like "hard work" and "dedication" together with "community" and "respect" has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different

Mission
The Primary focus of this role is to work closely with the tax operations team, to assist with the day-to-day operational requirements for client and institution as well as regulatory support and processing capacity for the newly formed Tax Operations team in Jersey, which has a component oversight functionality in London.

This role is specifically in a Tax Operations capacity in supporting the remediation teams as well as to cement their knowledge into the Tax Operations team and functionality.

This involves collaboration with the bank's primary departments including Treasury, Banking Operations, Securities Operations, Client Services, Client on-boarding and Tax Operations London with support from Group Tax based in London.

The candidate must understand and ensure best practice with regards to procedures, controls, governance and mitigating operational tax risk over a wide range of withholding and transactional taxes generated by trading activities as well as safeguarding the bank's QI license and other AEoI obligations.

Client and regulatory tax reporting includes, but is not limited to, US Qualified Intermediary (QI), US FATCA, Common Reporting Standards (CRS), any other current or future automatic exchange of information (AEOI) and all associated client reporting. A good working knowledge of these areas is essential.

Knowledge of US Regulations - US Documentation (W-series documentation) US NRA (Non-resident Alien) Fiscal Adjustments would be extremely advantageous and essential.

Knowledge of Excel and PowerPoint would be an advantage as well as experience in writing and updating departmental procedures, controls and governance around the AEoI process. Someone who recognises the key risks and can chronologically aid around the complexities of each AEoI legislation in conjunction with the Tax Operations manager and oversight in London.

A basic knowledge of securities operations across various asset types and markets is required, plus experience of working with counterparties such as brokers, custodians, fund managers, transfer agents, data providers, depositories and their respective online systems as well as a multi entity and multi-platform society with its own and individual complexities.

The ideal candidate will be self-motivated, enthusiastic and dynamic; able to provide consistently strong standards; keen to identify and resolve issues; challenge existing procedures and controls whilst working with cross-functional teams to implement operational improvements. They will also be able to analyse the operational tax impact of regulatory changes and new business proposals with a view to planning and implementing any necessary changes.

Profile

  • Identify and assist with reviewing, analysing and processing of all UK, CI and Gibraltar operational tax activities; dealing with any queries, issues or complaints in a prompt and professional manner; to minimise operational, reputational and financial risk with all entities within the group or impacted by AEoI process.
  • Identify and assist with reviewing, analysing and processing of all UK, CI and Gibraltar tax remediation activities; dealing with any queries or issues in a professional manner; to minimise operational, reputational and financial risk with all entities within the group or impacted by AEoI process.
  • Assist with the analysis, preparation and review to ensure appropriate regulatory controls are in place to comply with relevant tax and AEOI legislation, regulations and guidelines to eliminate any possible risk of an audit finding as well as reviewing current internal procedures to make them water tight and future proof.
  • Assist with the analysis, preparation and review to ensure all relevant US stock holders are fully documented with an appropriate IRS tax form (W8s, W9s), and maintain appropriate withholding reporting (1099, 1042s) as well as providing documentation review support for existing operational tax staff.
  • Assist with the analysis, preparation and review to ensure all individual, corporate and trust classifications are complete and in place on systems (FATCA, CRS) and work with the Front Office to obtain self-certifications and updated records accordingly as well as logging any issues under the Tax Ops RAIDS logs and raising/escalating any issues.
  • Assist with the analysis, preparation and review to reconcile and process downloaded custodian and agent tax reports to internal company reports and resolve any differences. To attend weekly exposure calls with underlying custody banks and provide feedback and minutes based on this dialogue.
  • Assist with the analysis, preparation and review to verify any client changes of address (Change of Circumstance), US reportable stock purchases or any stocks that have changed to US reportable, including US indicia mapping and the RTK (Reason to Know) process.
  • Assist with the analysis, preparation and review to maintain accurate tax reporting in line with deadlines, particularly for regulatory reporting and end of year client tax packs for all legislations under AEoI.
  • Assist with taking responsibility for the continuous improvement and documentation of our QI compliance program including procedures, training and systems to comply with the US requirements and internal corporate policy.
  • Assist with the planning and management for all external compliance reviews with auditors or other third parties as necessary, analyse results and implement changes or remediation as advised, to challenge reviews and trouble shoot and provide transparency on any AEOI level.
  • Help to monitor, evaluate and review tax policy or regulatory changes that impact current tax processing and communicate the operational tax implications to key stakeholders, MIS to senior management, review or suggest process improvement within policy and stakeholder approval and agreement.
  • Contribute constructively to the development of the operational tax team by suggesting ideas for improving efficiency or process quality.
  • Help and assist with current Project migrations like ARENA. Experience in Business Analysis and Change Management would be an advantage.
  • Knowledge of compiling MIS (Management Information Statistics) for all sponsors and Stakeholders.


Evolution
If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.

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