Deputy Head of Tax, UK

at  Munich Re

ABOUT GREAT LAKES INSURANCE SE:

As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.
Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred partner of agency insurance business in the UK.
It is an exciting time to join our growing and evolving organisation, help us shape the future of primary insurance service provision!
About the role:
We are looking for a tax specialist and a strong people leader to manage as a deputy to UK tax manager the UK tax team and to lead on corporation tax reporting matters (IFRS, UK GAAP and Solvency II) and other areas within the team’s remit (in particular, Pillar 2, VAT, transfer pricing and general advisory matters). Whilst we are looking for somebody with technical expertise in tax reporting (both internal and external), you do not need to be a technical expert in indirect tax matters – rather, to have the confidence to get to the bottom of why things are as they are and to ask the right questions. This would be an exciting role for a corporate tax reporting specialist looking for more breadth in their next role with a perspective for taking over a broader level of responsibilities.
We are looking for somebody with the energy and enthusiasm to drive project work forward, to manage our relationship with HMRC proactively and transparently, and to represent the tax function and to take ownership of the work the team produces in front of senior stakeholders, work effectively with Group Tax division in Munich on all Group tax matters for the entities in the team’s remit and collaborate successfully with the projects in the Finance area.

COMPETENCIES:

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.
Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.
Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.
Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.
Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

KEY SKILLS & EXPERIENCE:

• Qualified tax accountant, similar education (ACCA, CIMA et al.) and/or university degree
• Post-qualification experience of working in an in-house tax team, with responsibility for IFRS and UK GAAP (or equivalent) tax accounting
• Able to communicate clearly to both tax specialists and non-tax specialists alike, both in person/online and in writing
• People/team management experience
• Desirable: basic knowledge of UK corporation tax and a keenness to develop a sound knowledge of UK VAT and IPT principles. Candidates with deep knowledge of a non-UK corporation tax regime and with a keenness to develop their understanding of the UK tax regime are equally encouraged to apply
• Financial services experience/interest

REGULATORY & CONDUCT REQUIREMENTS:

In addition to the responsibilities set out above, the tax function will also become responsible for:

• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

ABOUT US

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders
We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn
You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions
We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Apply now!

KEY RESPONSIBILITIES:

• Oversight/sign-off of tax reporting (IFRS, UK GAAP and Solvency II) for several key re/insurance entities and service companies, providing a key interface between the UK tax team and Group Tax in Munich
• Key contact for senior stakeholders across the all MR UK businesses on tax matters
• Advise on UK tax matters where appropriate, able to take a pragmatic approach to tax advice, engaging advisers where necessary.
• Confident in managing advisers (and advisory spend) on projects, ad hoc work and throughout the UK corporation tax compliance cycle
• Oversight/sign-off of UK VAT compliance and IPT compliance (all jurisdictions apart from the UK are outsourced to external specialised service providers)
• Lead on Pillar 2 for UK Local Reporting and Compliance, working closely with all Munich Re UK entities in scope.
• Deputise the UK tax manager, manage the UK tax team in this context, working closely with all teams across UK Finance to ensure seamless processes through quarter end closing. Work closely with UK Finance teams throughout the year to improve processes and controls

In addition to the responsibilities set out above, the tax function will also become responsible for:

• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rule