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Role Title: Client Tax Reporting Manager
New or Existing Role- Replacement
- Purpose of this role is to manage client tax reporting initiatives, specifically FATCA, CRS and DAC6 in Group Tax.
- Providing business advisory service across all lines of business globally.
- Performing second line of defence assurance work (periodic reviews) for FATCA and CRS.
- Assisting with the management of the client tax reporting regulatory updates and governance process.
- Key activities include:
- Supporting the development of Group policies and business procedural requirements to ensure compliance with global and local CTR requirements, assisting operational effectiveness.
- Monitor changes in global CTR regulations, partnering with regional and local tax teams to assess regulatory requirements, propose changes to Group CTR policies, advise line of business procedures and IT infrastructure.
- Work with CTR governance forums to ensure policies, procedures and IT are consistently applied.
- Provide appropriate global support for training and front line escalation requirements, in partnership with line of business CTR teams.
- Pro-active engagement with key stakeholders (e.g. first and second line of defence) to understand and resolve business risks & issues.
- Develop and maintain expertise across FATCA, CRS and DAC6, engaging with non-technical colleagues and senior management to identify and implement pragmatic solutions.
- The Tax team believe diversity brings benefits for our customers, our business and our people. This is why we are committed to being an inclusive team and encourage applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation. We are also supportive of both flexible & remote working arrangements and would be open to discuss specific requests.
- FATCA, CRS and DAC6 are aimed at reducing tax evasion and tax avoidance by providing information on offshore accounts of individuals and entities to tax authorities or details of aggressive avoidance arrangements. The focus of governments, tax authorities and regulators globally on tax transparency, exchange of information and tax evasion continues to escalate, in part due to high profile events such as data leaks. Tax is now one of the principal elements of reputational risk for the bank. Embedding and maintenance of the client tax policies and procedures in a sustainable manner and engagement with senior business leaders and functional management is critical to the protection of HSBC’s reputation and tax risk mitigation.
- This role is primarily acting as an SME providing advice and guidance to the businesses/group across a wide range of issues and stakeholders, taking a direct lead role as required.
- Provide guidance on end to end compliance with client tax reporting regulations (present and future).
- Take a lead role in implementation and effective embedding of any changes required as a result of regulatory or business changes as required. Take lead in managing or advising on external regulatory audits.
- Focus on opportunities to streamline existing processes and “future proof” the business for potential future requirements
Observation of Internal Controls
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the job holder is involved.
Knowledge & Experience / Qualifications