Career Opportunities: Assistant Manager | Institutional Fund Operations | Investment Accounting (8441)The candidate will be responsible for the day-to-day management of the operational tax and corporate action functions. The Institutional Operations Tax Team is responsible for providing internal and external clients with exceptional service and accurate and efficient tax reporting, while the Corporate Actions Team ensures that all corporate actions, including proxy votes, are processed, and submitted timeously and accurately.
The tax function also provides support, insight and analysis to various internal stakeholders including but not limited to the Corporate Actions Team (relating to understanding and implementing the correct tax treatment of market events), the Bermuda Operations Team (relating to the tax implications of investments in a wide array of global jurisdictions), Group Tax, Client Reporting and Institutional Client Services (ICS).
The candidate will work closely with other operational and business areas, including Fund Accounting, Performance, Institutional Client Services, the Investment Team and Trading.
ResponsibilitiesEnsuring accurate tax provision and compliance:
Reviewing the completeness and accuracy of client tax liabilities within Institutional Operations.Ensuring that the institutional operations business maintains compliance with all tax reporting, filing and related requirements.Ensure that tax submissions are accurately calculated and timeously submitted to the relevant tax authorities.Review and analysis of monthly, quarterly and annual tax calculations performed by external service providers for institutional clients (including S24J, Capital Gains Tax, Interest Withholding Tax (IWT) and Dividend Withholding Tax (DWT) calculations).Review the assessments of the various Funds in-country tax exposure.Ensuring that institutional funds are appropriately registered for tax in applicable foreign jurisdictions, and liaising with in-country tax authorities and specialists to ensure such registration is completed and ongoing filing requirements are adhered to.Review of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) submissions for applicable clients.Responsible for ensuring the correct setup on the accounting system of new interest-bearing instruments.Review on the client and portfolio tax implications of all/complex corporate events.Review of the tax implications and tax reporting related to CIS income distributions and their appropriate Finswitch classifications.Ensure that changes to applicable tax legislation (local and foreign) are identified, communicated, considered and actioned where necessary.Lead all institutional tax projects and/or system changes pertaining to tax.Ensuring accurate corporate action processing:
Identifying and assessing the impact of corporate actions on portfolio holdings and valuations and ensure all corporate actions are accurately recorded in the portfolio accounting system.Understanding of and ensuring that the tax and accounting impact of all corporate actions are all accounted for correctly.Management of complex corporate events to ensure compliance with internal policies and guidelines, including understanding the tax implications thereof.Managing proxy voting and elective events and signing off instructions to custodians.Managing the Tax Reclaims process, the relationship with external vendors and maintaining acceptable completeness checks.Maintaining and refining the control environment:
Responsible for a clean audit on the ISAE tax controls.Identifying gaps and areas of improvement in current processes and taking on projects to implement required changes.Leading the existing Corporate Actions and Operational Tax team and assisting the Investment Accounting Manager with coordinating and managing daily business-as-usual (BAU) tasks, as well as supporting the development of the specialists within the team.Playing a pivotal role in reviewing existing processes, validations and reports to ensure that BAU tasks are value-adding, and that the team works in the most efficient manner possible.Reviewing the current control processes and documenting the process with particular attention to the area of process improvement and identifying areas of weakness in the current process.Play a leading role in defining the future model of the corporate actions and operational tax function.People Management and CommunicationBuilding and maintaining effective stakeholder relationships, both internally and externally.Representing Allan Gray at ASISA and other industry-related tax committees.People management - coaching and developing the team (2-3 direct reports).Continuous performance management using competency model.Being the institutional business champion in respect of corporate action and operational tax projects or system changes pertaining to corporate actions and operational tax.Coordinating and driving current corporate action and operational tax initiatives, projects and testing within the team - this includes the communication of progress to senior stakeholders.QualificationsChartered Accountant – Higher Diploma or Honours in Tax will be an advantage; orB Com degree or equivalent with at least 5 years of relevant tax, corporate actions, and/or accounting experience.A minimum of five years of experience in Financial Services (FS articles experience counts).
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