Tax Risk Specialist - JHB at FirstRand Group

Role Purpose

To provide a proactive, in-house Tax Risk service to the Retail & Commercial Bank of the FirstRand Group. The person will be deployed to the Retail & Commercial Bank (FNB & WesBank) and required to travel within the various campuses i.e.: BankCity; Fairlands and Sandton (as may be necessary) together with working in a hybrid working environment (home and office).

The FirstRand Group’s Tax risk is managed on a centralised basis by the Tax Risk Management team within FirstRand Group Tax (FRGT). Where appropriate, a deployed model is adopted for specific divisions within the Group. Tax Risk Management wishes to appoint a Tax Risk Specialist, with responsibility for the management of the Direct Tax risk affairs of the Retail & Commercial Bank. The Tax Risk Specialist will be deployed to Retail &Commercial and will report to the Tax Risk Manager. The Tax Risk Specialist will have responsibility for the functions listed below relating to the tax affairs of Retail & Commercial and (where required) and other areas within the FirstRand Group. The Tax Risk Specialist will work together with the Tax Risk Manager to ensure consistent application of guidelines, policies and legislative changes.

Responsibilities

• Attending, and providing Tax risk insight to various Retail & Commercial committees;
• Attending various Tax Forums within Retail & Commercial and assisting with the preparation of the Agenda’s for such meetings;
• Reviewing, advising and making recommendations in respect of the Direct Tax implications of Retail &Commercial transactions and products;
• Identifying Direct Tax risks within the various areas within Retail & Commercial and finding appropriate solutions;
• Ensuring that any transaction, product or query, which has other tax implications, such as Value-Added Tax or Employees’ Tax implications, is discussed with the relevant Tax experts within FRGT;
• Providing Tax advice with the objective of optimising the Tax and risk profile and identifying Tax saving opportunities;
• Establishing, communicating and implementing Taxation policies and frameworks within the Retail &Commercial Bank;
• Monitoring compliance with Tax legislation within Retail & Commercial;
• Communicating changes to Tax legislation and judicial decisions to Retail & Commercial;
• Co-ordinating Tax training and update sessions for Retail & Commercial;
• Ability to support business areas in respect of client’s Tax queries;
• Ability to ensure relevant systems are developed in compliance with Tax legislation;
• Managing Tax related projects as and when the need arises;
• Building new and enhancing existing working relationships with Retail & Commercial; RMB; FCC and any other segments, as maybe necessary.
• Escalation of Tax issues to management, where necessary.

Additional Requirements

• Integrity;
• Foster collaboration;
• An understanding of business strategy;
• Analysis of data and information (qualitative and quantitative);
• Effective presentation skills;
• Excellent communication skills;
• Knowledge management skills;
• Ability to manage concurrent projects, involving coordination of numerous processes and people;
• Ability to make independent decisions, creatively solve problems and provide meaningful and innovative solutions and advice;
• The person will be required to travel between Bank City; Fairlands and Sandton, as maybe required.
• Technically strong;
• Assertive;
• Team player;
• Ability to debate issues when required;
• Passionate and energetic;
• Self motivated;
• Organized;
• Able to handle pressure;
• Able to work independently;
• Thorough;
• Attention to detail;
• PC literate/Microsoft Office skills.
• Own car essential

Qualifications and Experience

• CA(SA) or equivalent, i.e. Attorneyor Honours degree, with MComm / HDip Tax;
• Post graduate Tax qualification;
• At least 5 years Financial Services Tax consulting experience (necessity),
• Experience in the Tax arena of the Financial Services/Insurance industry, alternatively in the Financial Services Tax consulting division of a large auditing firm/large legal firm;
• Broad and practical experience across all Tax competencies, including Direct Tax (Income Tax), Indirect Tax(VAT) and Employee’s Tax;
• Understanding of financial instruments, financial markets and the Retail and Commercial Banking industry;
• Understanding of International Tax principles and the ability to apply such knowledge to practical situations;
• Strong background in Corporate Tax (and legal aspects thereof);