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CIBC is a leading, well-diversified North American financial institution serving 14 million clients in its Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses across Canada, the US, and internationally. CIBC’s has 50,000 employees worldwide and annual revenue in excess of $25 billion per year.
In Europe and Asia Pacific, CIBC currently has its largest business presence in the UK. CIBC also conducts business in Luxembourg, Singapore, Hong Kong, Japan, and Australia.
The Taxation Group is responsible for providing tax advisory, tax planning, tax reporting, compliance, tax accounting and tax disputes across our CIBC group of companies.
The Europe and APAC Taxation team, as part of the Taxation Group, manage the tax reporting, tax compliance, and tax accounting dimensions in Europe and APAC and face UK and APAC tax Authorities. The Europe and APAC Taxation team and are the first point of contact for tax advisory and planning to our strategic business units in these regions, collaborating with colleagues across the Taxation team to manage taxation matters affecting the Bank, its products, businesses, employees and clients.
To protect the CIBC group, its shareholders, officers, directors and employees as well as its clients by providing taxation advice and regulatory guidance to support the development of plans, strategies, policies, practices and procedures as appropriate or necessary, while reducing the risk, costs and penalties, both tangible and intangible, of non-compliance with the tax laws and regulations impacting our many businesses.
Support the Head of Tax, Europe and Asia Pacific to manage corporate tax, tax reporting and related issues for CIBC, with specific ownership and responsibility for all Tax Compliance matters across Europe and Asia Pacific. In collaboration with Taxation Group team members, and in support the Head of Tax, Europe and Asia Pacific, provide first line of contact for advice and support to the businesses on various live trade, lending, and other product and business opportunities (UK, Europe, Canada, USA and APAC) as well for corporate structural and planning in the Europe and APAC.
Effectively communicates and works with Head Office Tax to ensure the accuracy and compliance of consolidated tax reporting for UK, Europe and Asia Pacific regions, aligning with the requirements and deliverables from a consolidated perspective.
Proactively assesses operational efficiencies and leverages technology to automate, streamline processes, supporting CIBC’s commitment to continuous improvement and innovation.
Ownership and management of the taxation compliance functions across UK, Europe, and Asia Pacific including
Ownership of London Branch corporation tax computation and return
Calculation and management of quarterly instalment payments
Review of VAT returns prepared by Finance colleagues and submission via external provider
Maintenance and review of VAT special partial exemption method
Calculation and payment of any UK Bank Levy liability
UK regulatory returns e.g. BBSI returns, Corporate Interest restriction, AEOI etc
Oversight of the Luxembourg and Asia Pacific Compliance functions in conjunction with external advisers
Luxembourg Net Wealth Tax reserve management
Luxembourg VAT returns
Tax aspects of Luxembourg annual audit and reporting for statutory accounts
Transfer pricing compliance and reporting requirements across Europe and Asia Pacific, and support in respect of related policies in collaboration with Taxation Group team members
Training responsibility for junior team members
Oversight of tax month end tax reporting processes for Europe and APAC.
In collaboration with Taxation Group team members, lead and manage the implementation and maintenance of tax proposals or tax aspects of a transaction including, serving as a team member on multifunctional projects, interpretation and resolution of tax issues, reviewing transaction documents and monitoring and ensuring ongoing compliance with tax guidelines.
Ensure that roles, responsibilities and accountabilities as regards taxation matters are defined and understood, with revisions as and when appropriate to reflect changes in the needs of the businesses, regulators and legislation.
Maximize effectiveness of tax knowledge transfer by encouraging tax awareness and compliance culture amongst client business groups. Selectively channeling effort to groups with the greatest and most pressing
Provide the necessary guidance to business units in order to ensure that business plans are both formulated and implemented in a manner consistent with the relevant local taxation, legal and regulatory regimes and the Bank’s own internal policies.
To interact with taxation authorities or regulatory agencies as required, e.g. assist with managing the continual UK, Luxembourg and APAC tax audit cycles, with consultation from Taxation Group team members.
Identify, assess and analyse the tax implications of a strategic initiative or transaction, develop a comprehensive plan, manage key areas of tax risk and opportunity and provide recommendations to business partners.
Manage/assist with the implementation and maintenance of tax proposals or tax aspects of a transaction including, serving as a team member on multifunctional projects, interpretation and resolution of tax issues, reviewing transaction documents and monitoring and ensuring ongoing compliance with tax guidelines.
Help develop the skills of more junior team members.
Support the wholesale bank; Capital Markets, Corporate Banking & Investment Banking as required.
Advise business management, operations, trading documentation and technology on initiatives .
Partner and collaborate with Legal on litigation as necessary.
Number of Direct and Indirect Reports: zero
Total FTE of Client Groups:
Lines of Business Supported: Wholesale = Capital Markets, Corporate Banking, Investment Banking
Geographies Covered: Europe, Asia Pacific with support of Taxation Group Members.
UK CA and/or CTA with 7 years or more years of tax experience or legally qualified with prior experience in accounting, finance or related field.
Sound technical taxation and corporate planning knowledge and sound commercial sense.
In-depth technical knowledge of UK tax laws and regulations, in particular direct and indirect tax aspects of banking and financial services.
Management of tax planning and compliance issues
Experience in providing tax advisory services, and the necessary strategic, commercial and communication skills to support this
An understanding of equivalent laws, directives and regulations impacting the Bank’s clients and operations in the rest of Europe and Asia Pacific and our regulators in order to effectively formulate policies and procedures for Europe and Asia Pacific.
Knowledge of industry and market practices, products and services sufficient to analyze complex issues and developments and apply such knowledge to the Bank’s own practices, products and services; reshaping the Bank’s practices and procedures in order to align with and conform to industry norms. Collegiate participation in appropriate forums aimed at anticipatory and pre-emptive action to minimize risk of unnecessary Governmental, legal or regulatory scrutiny.
Results-oriented, self-motivated, proactive and proven ability to work independently.
Focused, thorough and disciplined in approach.
Decisive, confident and comfortable working closely with and collaborating with business partners.
Excellent communication skills; able to translate technical guidance into business terms and implications.
Advanced problem solving skills leading to practical solutions on a broad range of matters.
This role operates under a hybrid model within a normal office environment with little exposure to adverse working conditions and working from home.
What you need to know
Job Location
150 Cheapside, London, UKEmployment Type
RegularWeekly Hours
35Skills
Advisory Services, Banking, Business, Compliance Oversight, Financial Reporting and Analysis, Financial Services, International Tax Compliance, Leadership, Lending, People Management, Regulatory Requirements, Tax Advising, Tax Audits, Tax Compliance, Tax Law, Tax Planning