EMEA Tax Operations Associate

Recruiter
Nomura
Location
London, UK
Salary
Competitive
Posted
19 Jul 2019
Closes
23 Jul 2019
Ref
1200731723
Job Role
Tax Manager
Contract Type
Permanent
Hours
Full-time
Level of qualification
Newly qualified, Qualified
Department overview: EMEA Tax Operations are responsible for: Withholding Tax Rates: updating withholding tax rates for various systems/departments Withholding Tax Reclaims and Relief at Source - for the EMEA wholesale Nomura entities, trading in approx. 70 countries Financial Transaction Taxes (FTT): Ensuring correct withholding and reporting for French and Italian FTT US Taxes: Qualified Intermediary / Qualified Derivatives Dealer / 871(m): Ensuring we have valid tax documents from clients/counterparties, withhold correct amounts of taxes from clients and produce correct 1099, 1042-S and 1042 US tax reporting to the IRS Automatic Exchanges of Information (AEOI): Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS): review of client documentation (enhanced KYC), monitor clients for Changes in Circumstance, monitor scope breach report, validation of GIINs, produce reporting for tax authorities EMEA Tax Operations supports the following business functions of Nomura: Proprietary trading Financing: Securities lending, repos, collateral management Cash Prime Broker, Synthetic Prime Broker Clearance Custody Derivatives Loans EMEA Tax Operations operates as a central hub for; updating a library of tax information, maintaining tax rate tables, ensuring Nomura benefits from tax treaties/exemptions wherever possible, complying with the tax laws of all the jurisdictions we operate/trade in and resolving all internal and external client tax enquiries. Currently there are 3 team members based in London and 3 in Mumbai. Role description: To be the lead for US taxes and FTT. However, as the team is small, the candidate will be trained for all the different functions that exist within tax operations, so they can provide cover as required. There is also the possibility to rotate responsibilities in the future. We expect to take responsibility for UK stamp duty in this year. Key responsibilities US Taxes Be the subject matter expert and the operational taxes lead for US tax projects Oversee US tax functions carried out in Mumbai Ensure all forms all correctly validated using MD3/IPS Ensure correct withholding is applied Ensure reconciliations of income and taxes occur on a monthly basis and discrepancies are resolved Produce year-end US tax reporting (1099, 1042-S, 1042) Answer all enquiries Maintain operational procedures Ensure adherence to Control Standards FTT Be the subject matter expert and operational taxes lead for FTT projects Collect client tax documentation Maintain flags for client exemptions Maintain list of instruments subject to FTT Reconcile tax accounts Answer FTT enquiries Send out FTT invoices for OTC derivatives File FTT tax reporting Pay taxes to tax authorities/agent banks Maintain operational procedures Ensure adherence to Control Standards Skills, qualifications and knowledge required Candidate should be able to recognise risk and escalate where necessary to senior management Demonstrate good time management, ability to prioritise tasks and to meet deadlines Have strong interpersonal skills, ability to communicate at all levels Are comfortable with the demands of working in a pressurised environment Control - exhibits an appreciation of the risk impact of actions undertaken. Strong risk management focus Displays a high attention to detail System Knowledge - ability to quickly learn new processing systems Prioritisation - ability to prioritise heavy workloads and work efficiently under pressure and stressful situations Analytical - Excellent reconciliation skills Ability to anticipate problems and potential risk Identifies weaknesses in processes and takes ownership for change Experience in a role at a financial institution Efficient time and risk management skills Team player Experience Required: Knowledge of one or more of the following; withholding taxes, settlements, FTT, FATCA, CRS, stamp duty, derivatives Experience of one or more of the following businesses; prime broker, custody, clearance, proprietary trading, securities lending Qualifications / Education: Degree or equivalent qualification preferred but not necessary Candidate Profile: A team player with a high level of commitment and enthusiasm A strong understanding of the control environment and the associated risks Good analytical skills and the ability to develop effective solutions to support new business initiatives, market and regulatory changes

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