Senior Specialist: Tax (CIB)

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Job Summary

The role requires a self-driven tax specialist with strong tax technical skills, an understanding of accounting principles and experience to support and be a trusted advisor to business in relation to financial transactions, structured investments products and financial transaction products.

The candidate is required to manage tax risk in relation to various direct and/or corporate taxes by ensuring compliance with tax laws (and regulations), providing quality tax advisory services to a range of stakeholders in Investment Banking and Treasury.

The candidate is also required to manage internal and external stakeholders; manage SARS audits and information requests; oversee and review tax compliance processes, to drive implementation of tax initiatives or projects and to support the Head of Tax in driving the implementation of the Group Tax strategy.

Job Description

Accountability: Business Support

• Manage relationships with key stakeholders in Investment Banking and Treasury. Proactively communicate major items (e.g., risks and opportunities) to those stakeholders, as required, guiding them on key technical, reputational, and commercial issues from a tax perspective.
• Proactively engage with and provide technical tax advice to stakeholders to ensure tax compliance with new and current tax legislation.
• managing external stakeholders (such as National Treasury, SARS, Industry bodies etc.) in contributing to the formulation of tax legislation and ensuring that Absa's interests are advocated, protected, and advanced.

Accountability: Compliance and Reporting:

• Managing and overseeing the resolution of tax queries raised, as well as lodging of any objections and appeals.
• Ensure tax training is provided to businesses as regards tax compliance, where appropriate, to enhance the level of compliance.
• Oversight on the submission of income tax returns of entities within Global markets and tax payments to SARS.
• Implementing efficient tax controls and remediation processes.

Accountability: Management of Tax Risk by:

• Understanding stakeholders' needs to provide value added and timeous tax advice and service through ongoing consultation.
• Identifying and implementing (and/or supporting implementation of) tax opportunities.
• Attending Forums, Mancos and Board meetings to present tax matters impacting the relevant entity.
• Providing tax sign off on new products within the business.
• Advising the business on the tax implications relating to transactions/projects and recommending solutions.
• Liaising with external auditors to resolve identified tax findings.
• Preparing tax briefs and liaise with external advisors to obtain tax opinions on uncertain tax positions relating to complex transactions.
• Reviewing and providing commentary on changes in tax legislation impacting business.
• Providing tax training to businesses where appropriate to enhance tax awareness and effective tax management.
• Collaborating, provide opinion, implement guidance in relation to tax accounting, compliance, reporting activities carried on within and outside of the Group Tax function.
• Identifying and quantifying tax risks within business units related to significant transactions.

Accountability: People

• Motivate and coach team members and ensure that their efforts are recognized.
• Assist with the interviewing and recruitment of new members to the broader Tax team.
• Maintaining a good working relationship with colleagues within the Group Tax team.
• Enable upskilling by sharing knowledge and industry trends with colleagues during formal and informal interaction.

General:

• Develop and maintain industry knowledge and represent Absa on industry sub committees (e.g., BASA, National Treasury, etc).
• Supporting the Head of Tax and Tax Leadership team in delivering the Tax Strategy.

Education and Experience Required:

• Qualified Chartered Accountant
• Honours Degree (in Accounting)
• Master’s Degree in Business Taxation
• Ongoing tax updates and / or qualifications
• Minimum of 8 years’ experience in tax roles with proven ‘in-depth’ tax experience (Financial Services Industry specifically investment banking required)

Knowledge & Skills:

• Ability to resolve complex tax and finance issues faced by banking firm and in an ever-changing environment
• Excellent technical income tax and international tax law knowledge
• Control and execution focused
• Strong ability to identify opportunities and add value
• Maturity to interact and communicate with management and employees at all levels
• Strong negotiation skills and experience in negotiations with SARS
• Strong manager of professional external advisors
• Proven business acumen and ability to look at the bigger picture
• A strong understanding of financial analysis
• Excellent provider of analysis and summaries
• Proven leadership skills
• Strong understanding of accounting and deferred tax requirements (as appropriate for the specific role)
• Understanding of regulatory requirements

Competencies:

• Deciding and initiating action
• Learning and researching
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Creating and innovating
• Willingness and initiative to share skills and develop a high-performing team

Education

Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised