Client Tax Operations Utility - Tax Relief At Source Analyst - 502

Location:Dorset
Job Type:Full Time

JOB DESCRIPTION: Client Tax Operations Utility : Tax Relief At Source Analyst – Professional (502)


Based at Bournemouth corporate centre, UK




About J.P. Morgan Chase & Co.


J.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about J.P. Morgan Chase & Co. is available at www.jpmorganchase.com



About J.P. Morgan Corporate & Investment Bank


J.P. Morgan’s Corporate & Investment Bank (CIB) is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.





Business Overview:Client Tax Operations Utility



The Client Tax Operations Utility’s primary responsibility is to maximize the client experience and comply with tax regulations globally by facilitating the collection of valid client tax documentation, the application of withholding tax and refunds and the submission of regulatory reporting.This is a dynamic function requiring consistent compliance and controls, enhanced response to regulatory and market changes and operational excellence in our business processes and technology.



The Utility has a firmwide remit principally managing tax services and regulatory responsibilities for the following businesses:



Corporate & Investment Bank “CIB”


The CIB is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust the CIB with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.



Commercial Bank “CB”


The CB serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.



Consumer & Community Bank “CCB”


The CCB serves 61 million households and 4 million small businesses with a broad range of financial services, including banking, credit cards, auto finance, payments, mortgages, and investment advice.The CCB consists of the following lines of business:


Consumer Banking serves customers at 5,100 branches in 23 states, 16,000 ATMs, online, through mobile and by phone


Home Lending offers purchase and refinance home loans to first-time and experienced homebuyers, helps customers access the equity in their homes, services residential mortgage loans, and provides affordable housing solutions to customers struggling with mortgage payments. Home Lending services 4.8 million mortgages with combined balances of more than $800 billion


Chase Card Services offers a broad array of Chase-branded and co-branded credit cards to fit the needs of nearly all consumers and small businesses. As the #1 credit card issuer in the U.S. (based on loans outstanding), we offer customers choice, flexibility, simplicity, security and the backing of the full Chase franchise


Business Banking provides deposit, credit and cash management services to companies with up to approximately $20 million in annual revenue


Auto is a leading provider of auto financing and is one of the largest auto lenders in the U.S. It purchases auto loans and leases directly from dealers, makes auto loans directly to consumers through bank branches and chase.com, and provides commercial loans and floorplan financing to dealers


Merchant Services is the global payment acceptance and merchant acquiring business for JPMorgan Chase & Co. It processed $1.2 trillion in payments in 2017



This is a high-risk organization with diverse market procedures, a significant change agenda and complex market/regulatory requirements.




Job Description:



The position is within the Tax Operations Group, whose primary responsibility is to maximise client's investments by either facilitating effective tax relief at source on our client investment income or retrospectively reclaiming taxes from global tax authorities. This is a high-risk product with diverse market procedures, complex documentary requirements and client specific nuances.


The role requires extensive internal communication with the global client service and relationship management teams, together with regular interaction with sub-custodians, global tax authorities and depositories


Key Responsibilities:


The incumbent will be part of a team of analysts who have responsibility for the following:


  • Ensuring that Tax documentation and certificates are solicited from our clients and local tax offices across the globe in partnership with the on-boarding and client service team
  • Validation of tax documents and certificates received in accordance with JPMorgan and market level polices
  • Lodgement of tax certificates and declarations with sub-custodians and depositories globally to facilitate tax relief
  • Performing regular reviews of clients to ensure they are receiving the appropriate tax treatment in each global market
  • Opening client accounts in JPMorgan tax system
  • Setting of client trading defaults and instruction of stock movements to the appropriate tax rate accounts
  • Review and verification of other team members work
  • Publication of reporting to the global client service and relationship management teams
  • Attending Client Conference Calls providing status updates on Market Openings, Fund Launches, Tax Calls & ensuring that regular metrics and milestones are provided.
  • Ensure accurate completion of market documentation with market naming conventions, obtain sign-off in line with the JP Morgan & Agent Policy. Arrange for legalisation where required.
  • Monitor & Maintain changes for a client based on notification of Tax changes.
  • Relationship building with all key contacts both internal & external.
  • Liaising with the client to gather the relevant tax documentation to obtain the maximum relief at source for the market and client type
  • In addition the incumbent will have ownership for specific MIS metrics and will be responsible for reporting to the supervisory and management team on a weekly basis.




Experience / Qualifications:


  • Degree qualified (preferred) or equivalent work experience
  • Strong administration and organisational skills
  • Enthusiastic and articulate team member, who posses good communication skills
  • High degree of accuracy and a good eye for detail
  • Strong risk awareness
  • Business and customer focused
  • Proactive work ethic, innovative and self-motivated
  • A flexible and analytical approach to problem solving
  • A high level of PC literacy
  • Ability to work under pressure and to strict deadlines
  • Proven skills in customer service.
  • Demonstrate an ability to manage deadlines, prioritise tasks & take ownership of deliverables.
  • Proven risk awareness & ability to escalate and manage potential risk.
  • Demonstrate the ability to work at an individual level & within a team environment.
  • Provide examples around ability to work under pressure.
  • Demonstrate strong verbal & written communication skills.