|Job Type:||Full Time|
The Tax product management role will form part of the product management function focusing on the management and control of the Global Custody business with the specific aim, along with the Business leads, Product Control function and the Client teams to run the Global Custody Tax function end to end. This team have responsibility for the definition, ownership and growth of tax product related matters within Global Custody across the end to end functional disciplines: Markets Coverage, Positions and Settlements and Asset Servicing.
Custody and Fund Services
Custody and Fund Services, a division of J.P. Morgan Chase Bank, N.A.’s Securities Services business, is a global industry leader with over $25 trillion in assets under custody. J.P. Morgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and debt and equity issuers. J.P. Morgan’s Custody and Fund Services business is comprised of Custody, Accounting, Transfer Agency, Middle Office outsourcing, Foreign Exchange, and other activities related to servicing assets for traditional and alternative funds; it leverages its scale and capabilities in more than 100 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, trading services and alternative investment services.
The ideal candidate for this role will have Tax knowledge / experience within a Global Custodian environment.
Specifically, the candidate will oversee tax developments primarily in the EMEA region, perform global research relative to EMEA countries / markets in which clients hold portfolio assets.
Key responsibilities of the role will include:
- Monitoring and communication of tax changes and their implications across markets, products, and regions to JPM custody business locations and their respective clients
- Maintaining relevant internal / external materials reflecting current state of local law, treaty, including entity level taxation of various types of investor
- Management of tax information in JPMorgan’s Tax Intelligence platform
- Working with local sub-custodians to oversee the tax service in the local markets
- Drafting of market flashes and associated policies, tax product materials, etc.
- Assisting the business in managing and mitigating tax risk
- Partnering with JPMorgan Corporate Tax, Legal, Product and Sales / New Business teams to develop new tax products and create business proposals for clients and prospects
Global Custody Tax Product Team general responsibilities:
- Translate tax law / policy / rule changes into business and system requirement
- Update client facing data using defined JPMorgan standards
- Engage in industry representative efforts related to the introduction of new or amending tax legislation and associated administrative procedures
- Maintain Tax product definition and understand what is the product, how is it delivered, who are the clients and how is revenue realized.
- Ensure a globally consistent service across the Global Custody Tax product to include: legal & risk framework, service model, reporting and required account structures.
- Perform on-going competitive analysis and benchmarking to influence strategy.
- Collaboration with the Operations and Corporate Tax teams to assess the impact of Market & Regulatory developments on the Global Custody Tax product offering and implement appropriate business solutions.
- Analyse product impacts, opportunities & threats of external and internal changes from a tax perspective.
- BAU support for Global Custody Tax issues and client requests.
- Product Leadership and centre of excellence on Global Custody Tax product knowledge and issues - provide direction and guidance to business partners.
- Act as the face of the Tax Product with clients, supporting client meetings, RFPs and deal presentations
- Governance and quality assurance of Global Custody Tax solutions /operating models developed against a global standard and product book
- Definition and implementation oversight for new and/or enhanced product features and functions.
Skills and Qualifications:
- Knowledge of securities taxation principles and tax considerations impacting institutional portfolio investors and custodians
- Demonstrated ability to think strategically with respect to product strategy and development agenda
- Proven expertise in developing, prioritising and delivering business cases
- Strong presentation skills and previous client facing experience
- Experience in managing and influencing key business partners for the delivery of the services
- Excellent written communication skills with the ability to provide tax regulatory and product updates for internal stakeholders and external clients
- Strong analytical ability with attention to detail
- Ability to partner with cross-functional teams in multiple locations
- Capable of managing multiple competing priorities and stakeholders.