Lead - Tax Advisory & Special Projects at Old Mutual South Africa

Job Description

This Johannesburg-based role (which will require travel to Cape Town and other regional offices) will form part of the office of the Group Head of Tax. The Group Head of Tax is responsible for providing the group-wide signoff and oversight on the implementation of the tax risk management strategy and policy to support the group's business strategy. This includes oversight of the internal and external tax processes to execute on, amongst others, the tax compliance, advisory and financial reporting and disclosures in the annual financial statements, including the Tax Transparency Report (as part of the Integrated Reporting Suite).

In the main, as part of the Group Tax Executive Committee, the candidate will be responsible for the following:

• To provide effective support to the OML Group Head of Tax on all strategic initiatives and developments.
• For the management of senior tax executives in the Group Tax team, the wider Group Finance team and business segments to ensure effective execution on strategic projects and timeous delivery of all critical reports (see below).
• Setting and monitoring the effectiveness of the group tax governance and control framework,
• In collaboration with the Group Tax Leadership team, reviewing the effectiveness of the implementation of the tax risk management policy throughout the business segments ie testing standard operating procedures in place to ensure the area of risk is adequately mitigated)
• In collaboration with the Group Tax Leadership team, co-ordination and management of the processes for the preparation and delivery to deadlines, of the reports that are presented at various meetings (eg audit committee meetings, Executive Finance Committee meetings, Segment Reporting, Quarterly Business Review, Simplification Unit etc)

Execution in the role will require regular internal and external stakeholder management. It is imperative that the successful candidate has ‘presence’ and is capable of building strong, trusting relationships within the Group Tax team, in the wider Group Finance team, with business executives and externally (eg SARS, ASISA, etc). This role requires an agile, ‘self-driven’ person comfortable with ambiguity, with a very strong ‘can-do’ attitude. High levels of integrity, maturity, assertiveness/confidence and confidentiality are critical requirements. The successful candidate must have very strong communication and presentation skills. Strong numerical and analytical skills are necessary. 

Group Tax provides tax advisory, certain tax compliance services and tax reporting (in its widest sense) to the Old Mutual Limited Group. We consider ourselves a specialist business partner, and aim to provide deep, specialist tax knowledge to enable and lead the group effectively and to efficiently integrate tax into business and decision-making processes. We derive the key messages and support the group in communicating our tax contribution in a transparent manner. 

The incumbent along with the Group Tax team will be responsible for leading various tax provisioning and tax reporting processes, as well as certain tax advisory services to the Old Mutual Group. The role offers a challenging blend of strategic input and governance, technical comprehension and relationship building, while leading with influence and executing conscientiously.

Key Result Areas

Group Tax Projects

• In collaboration with other senior members of the Group Tax Team, oversee the development and/or regular updating of the Group Tax strategic project plans, project scorecards and budgets (including project delivery in terms of the Tax Optimisation Programme, Remediation Programme, Implementation of new legislation (eg tax changes as a consequence of the implementation of IFRS 17), Implementation of new reporting systems, etc)
• Oversee actual spend against budgets
• Monitor the flight plans for projects and raise red flags/barriers to delivery
• Regular feedback on the status of the projects (including reports in preparation for project steering committee meetings) and timeous escalation where delivery deadlines are at risk.
• Ensure due diligence (build versus business requirement specifications) reports are obtained that support the closure of projects.

Tax Risk Management Process

• Lead the process to refresh standard operating procedures to ensure that these procedures are comprehensive, relevant and aligned to the tax risk attestations
• Lead the process to ensure that the required internal controls are included in the internal controls system - where Group Tax is responsible, that these are signed off timeously with the relevant evidence in place
• Work as part of a wider team, to ensure that tax risks within the Old Mutual Group are identified, well understood and managed within acceptable risk parameters
• Lead the process to refresh and implement updated Tax Risk Management strategy and policy throughout the business segments.
• Co-ordinate and consolidate input to deliver the various tax risk attestations required (for example, letter of representation, Financial Reporting Controls attestation, model risk attestations, etc)
• Takes ownership of end-to-end documentation for assigned, ‘in scope’ processes (or sub-processes) and sign off of periodic, internal confirmations on the effectiveness of key controls relevant to the tax controls framework.

Tax Compliance and Reporting

• Develop, maintain and monitor the tax compliance and reporting calendar. This should include submission deadlines for various tax return submissions (for example, income tax returns, provisional tax returns, dividend withholding tax, employees tax, IT3 certificates, etc), other regulatory filings (for example, revenue authority objections) and internal reporting deadlines (for example, year-end reporting, tax transparency report, etc).
• Monitor workflow tracker to drive delivery and ensure that all deadlines are met.
• Provide regular feedback on the status of the various deliverables and timeously escalate where delivery deadlines are at risk.

General

• Drive pre-reporting tax processes (for example, ensure that the appropriate teams reconcile accounts to latest statements of account, review tax payment reconciliations, ensure that top up tax  payments are timeous, and internal expense budgets and forecasts are compiled)
• Engage with external entities (for example, ASISA, SARS & National Treasury) and co-ordinate commentary on proposed tax legislation, tax practice and national tax strategy (policy formation), as appropriate
• Stay abreast of tax changes and lead the process to ensure that legislative and compliance changes are communicated timeously, and act as the feedback loop internally and externally to ensure changes are implemented
• Support the Group Head of Tax with monitoring and engaging the business on, for example, tax implications of major corporate action (for example, mergers and acquisitions, unbundling, share buy-backs, bond issues, etc), new product development, new systems implementations, etc.

Relationship Building

• Build and maintain relationships with executives and senior management, as well as key individuals, in Group Tax, across Group Finance and across the business segments
• High level of contact with external parties and stakeholders, as required.

Communication & Engagement

• Co-ordinate the process of research, preparation of reports, presentations, media pieces, etc.
• Eminence: Manage the process to deliver tax input into wider campaigns (for example, the National Budget Campaign).

Personal Effectiveness

• Accountable for service delivery through own efforts as well as the influencing of others.
• Individually accountable for managing own time, tasks, and quality of reports/output.
• Contribution by deepening and broadening skills.
• Collaborate effectively with others to achieve personal results.
• Lives and drives the company values and culture we aspire to have in Group Tax.

Support to the Group Head of Tax

• Coordinates resources to gather information and may prepare of various reports (including reports to Exco and Audit Committee of the Board).
• Responsible for ensuring relevant matters are included on board, EXCO agendas and Group Tax Leadco agendas.
• Communicating and escalating important issues within the business appropriately.
• Required to investigate and research various ad-hoc business-issues, strategic initiatives and developments.
• Required to respond timeously and professionally to a variety of ad hoc projects, business issues, client requests and stakeholder requests, etc. that impact across the organisation.
• Ensures Group Head of Tax is equipped with necessary reports and information to proceed with internal and external meetings.
• Represents the executive on certain ad hoc projects, meetings and events as required.
• Responsible for the planning and execution of internal and external events hosted by the Group Head of Tax.
• Plan the yearly calendar for the Group Head of Tax which will form the basis of the Group Tax calendar.
• Keep a record of and follow up on action arising out of Group Tax  Leadco meetings.
• Provide the Group Head of Tax with informed suggestions on how to deal with smaller matters arising out of the business following consultation with other senior managers.

Requirements

• CA(SA) with at least 8 years core tax advisory, tax compliance experience and tax reporting experience.  H.Dip Tax or Tax Honours /Masters required.
• Strong knowledge of financial services industry and understanding of Insurance Products.
• Essential IFRS knowledge, particularly relating to deferred tax, tax disclosure, and those applicable to financial services.
• Good operational understanding across the financial services industry, such as long-term insurance companies, short-term insurance, unit trusts, LISPs, asset management and banking.
• Strong communication skills – is able to communicate large complex matters/changes using simple written and verbal skills.
• Tax risk management/oversight experience.
• Experience with transformation of tax functions (people, process, data, technology) would be a distinct advantage.
• Adaptable and able to cope with a dynamic environment: must drive matters to completion (get things done).
• Must display emotional maturity and resilience - is able to multi-task (manage the outcomes to deadlines of multiple engagements) and work well under pressure.
• Reliable and display a professional approach.
• Maintain confidentiality of all information, both from internal and external sources.
• Display solid business acumen.
• Accountable for achieving results through own efforts and/or through managing efforts of a tax specialist team including working in collaboration with the wider Group Tax/Group Finance team.

Personal attributes 

• Articulate. excellent verbal and written communication skills (including report writing)
• The ability to perform under pressure
• The ability to interact, work with and manage diverse teams
• Strong forward-thinking and analytical skills
• Pragmatic and numerate
• Logical thought processes and critical thinking skills resulting in sound judgment at an enterprise level
• Decisive and pragmatic
• The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question

Skills

• Deadline Management, End Reporting, Financial Analysis and Reporting, Internal Reporting, Management Reporting, Reporting Processes, Risk Management Strategies, Stakeholder Management, Strategic Projects

Education

• Chartered Accountant  (Required), Higher Diploma: Taxation (Required), Honours Degree  (Hons): Taxation (Required), Masters Degree (M): Taxation