Indirect Tax Manager

at  ICBC Standard Bank

Location: London
Hybrid Working: 3 days in office, 2 days from home
ICBC Standard Bank Plc (ICBCS) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise.
ICBCS is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and the markets in which we operate. We deliver products in an environment which considers the appropriate needs of our clients, whilst providing guidance and expertise to ensure our employees understand our business and uphold the highest levels of conduct.
Headquartered in London, ICBCS also has operations in Shanghai, Singapore and New York.
At ICBC Standard Bank, we share the same values, challenges and opportunities. We are a diverse, close-knit, global team with a unique heritage and purpose. We put people first, and give talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise, seek new opportunities and realise their potential.

DIVISION SUMMARY:

Tax division responsibilities include:

• Ensuring the accurate identification, management, measurement, control and reporting of corporate income tax and indirect tax risks.
• Owning and managing the bank’s relationship with global tax authorities.
• Managing the Group’s corporate income tax and indirect tax compliance position.
• Ensuring the timely and accurate reporting of corporate income tax and indirect tax charges for the purposes of all financial statements and tax-related financial disclosures to tax authorities, regulators and investors.
• Providing the Business Units with accurate and timely tax advice in relation to their business activities, and acting as a control function in the review of new businesses / products and structured transactions.
• Determining the transfer pricing methodologies to be applied in any particular case, overseeing implementation and managing the position taken in respect there to with the relevant tax authorities.

REQUIRED SKILLS, KNOWLEDGE, EXPERIENCE AND VALUES:

Experience:

• Accounting / tax experience.
• Advanced Excel skills essential (pivots, v look-ups etc.).
• A knowledge of direct and indirect tax accounting ideal, but accounting/SAP skills are as valuable.
• Previous exposure to UK VAT principles.
• Experience in banking / financial services / oil / commodities tax preferred but not essential.
• An understanding of Excise tax accounting preferable but not essential.
• Experience in SAP preferable but not essential.

Personal attributes:

• Excellent numerical and analytical skills.
• Proactive, self-motivated team player with a high level of attention to detail.
• Strong written and verbal skills.

JOB PURPOSE:

This is a temporary indirect tax / VAT manager role reporting to the Senior Manager, Indirect Tax providing paternity leave cover. The role is mainly focused on UK VAT tax compliance and reporting and includes the provision of information to external services providers to facilitate submission of Danish, German, Swiss and US indirect tax returns. As a member of a small team the role includes supporting the Head of Tax on certain direct tax and team matters.

KEY RESPONSIBILITIES:

Tax Compliance & Reporting

• Preparation of the Bank’s UK monthly VAT returns.
• Provide assistance in preparing the Bank’s international VAT, sales & excise tax filings including extracting and manipulating trade data for outsourced compliance service providers, reconciling system entries against the general ledger (SAP) and preparing tax journals.
• Assist in the preparation of US state and city income, franchise and other US direct tax compliance filings together with supporting the accounting of these taxes through the preparation and posting of the tax accruals, working with Finance and Ops as appropriate.
• Assist the Tax function to deliver month end reporting processes for taxes including:o Preparation of the tax provisions and tax journals; ando Certification and substantiation of tax balances in the general ledger.
• Assist with other indirect tax filings including overseas submissions.
• Maintaining records of the Bank’s international tax filing obligations.

Other

• Maintain internal processes to ensure compliance with HMRC’s Making tax Digital requirements.
• Be a vital contact between the Head of Indirect tax and IT teams in relation to projects that might impact MTD updates or other processes for the broader tax team.
• Support the Tax team on an ad hoc basis on a range of general tax matters including:o Assisting with HMRC and ad hoc tax accounting enquiries;o Process improvement and enhancement projects;o Preparing VAT claims;o Tax reporting;o Preparing management information reporting packs; ando Maintaining the Tax function’s process and procedure manuals.

Tax division responsibilities include:

• Ensuring the accurate identification, management, measurement, control and reporting of corporate income tax and indirect tax risks.
• Owning and managing the bank’s relationship with global tax authorities.
• Managing the Group’s corporate income tax and indirect tax compliance position.
• Ensuring the timely and accurate reporting of corporate income tax and indirect tax charges for the purposes of all financial statements and tax-related financial disclosures to tax authorities, regulators and investors.
• Providing the Business Units with accurate and timely tax advice in relation to their business activities, and acting as a control function in the review of new businesses / products and structured transactions.
• Determining the transfer pricing methodologies to be applied in any particular case, overseeing implementation and managing the position taken in respect there to with the relevant tax authorities