SUMMARY

The Tax Service Business Manager is responsible for assisting tax operational and product teams in monitoring, assessing and implementing tax changes affecting the services offered across the markets he/she is responsible for.

The Tax Service Business Manager has a key role to play:

• Assessing & securing the risks linked to the tax business services, with the help of relevant functions.
• Help developing an offer that will generate substantial revenues and be recognized on the market by clients & competitors
• Do this for all BNP Paribas Securities Services business line products – excluding MFS.

He/she will coordinate with internal (when available) and external tax experts (when required) and principally interact with operational, product, legal and compliance teams within Securities Services, as well as Group Tax department.
Working within Securities Services business lines and in coordination with the Global Head of Tax Business Services, he/she is in charge of identifying any sensitive topic that might require Group Tax Department validation and in charge of determining whether a product requires a NAC procedure and whether GTD attendance is required in the NAC procedure.
This is a senior specialist/subject matter expert role within the UK and in discharging this role, the Tax Service Business Manager will be a tax professional with many years of experience so as to demonstrate a very strong breadth and depth of understanding and knowledge of tax matters – he/she will be the go-to person for the more complex tax matters and questions that cannot be provided/answered by the business and for which specialist expertise is required.
This role includes providing insights on UK market updates (specifically including the preparation and issuance of Market Updates to Internal stakeholders & clients) as well as insights on competitor tax services and other clients to the team.
The role also utilises the person’s expertise and experience to work at a strategic level with senior stakeholders to define our tax strategy/ tax service model, This including working very closely and directly with the most strategic clients booked in the UK to define and communicate (with others) responses to client needs/requirements that balances such needs/requirements with the need to remain in compliance with regulations and not create undue risk to the Bank

DETAIL

Monitor tax changes using internal (own expertise, Group Tax Department, etc.) and external information providers. Assess the first level of impacts on our services. Liaise with Group Tax Department, Global Head of Tax Business Services, product and operations, depending on the impacts and ask for a NAC when necessary. This includes but it’s not limited to:
‒ monitoring changes of tax legislation impacting taxation of securities (e.g. withholding tax on income from securities, securities transaction tax, capital gains tax) and related tax relief and tax reclaim procedures,
‒ inform tax operational team, product team and clients (via Market Updates as applicable) of relevant tax changes,
‒ assisting tax operational and product teams in the understanding of any change of tax regulation (e.g. how it affects our tax treatments and tax liabilities),
‒ assist product teams in the assessment of the impacts of such tax changes on our tax product offer including but not limited to validating the changes required to the tax documentation in place with clients and the client communication (via Client Update as applicable),
‒ coordinate internal meetings on tax market change in order to identify any need for discussion/action at market place level and lobbying actions;
Take ownership of tax questionnaire to collect tax information when on boarding new clients. This includes, in coordination with Group Tax Department and Global Head of Tax Business Services as applicable:
‒ ensuring the questionnaire is kept up to date following changes in our tax services;
‒ being the point of escalation in case there is any issue/doubt with the way the questionnaire has been completed by a client.
Take ownership of the tax matrix used in our systems and ensure it is reviewed on a regular basis
Provide tax technical/tax risk view to support any internal or external assessment of our tax procedures, Confirm that the defined tax services are in accordance with our tax obligations (especially where we are a withholding tax agent) and, Group Tax Department guidelines
Appoint external advisors to provide specific tax advice whenever internal tax resources are not available, in compliance with the tax procedure for recourse to external tax advisors.
In close coordination with the Group Tax Department and the Global Head of Tax Business Services, participate in international and local industry associations to represent our business:
‒ debating tax matters to provide thoughtful stewardship with the aim of influencing workable market change outcomes,
‒ representing and protecting our and our clients’ interests,
‒ influencing efficient and effective changes tax legislation and associated administrative procedures;
Be the point of escalation for complex tax matters and client requests and escalate to local Group Tax Department and/or the Global Head of Tax Business Services when necessary :
‒ assisting tax account managers in answering complex clients questions related to understanding of tax regulation,
‒ in case of litigation with clients, collaborating in analyzing/understanding/solving the incident from a tax regulation point of view,
‒ in case of litigation with local tax authorities, assisting in having a clear understanding of the underlying tax issue and tax regulation at stake and in solving the litigation,
‒ in case of tax audit from tax authorities, attending meetings with tax inspectors in case tax expert interlocutor is required (involve Group Tax Department when required),
‒ for client’s tax matter, be the point of contact for tax authorities for Securities Services’ activity (otherwise directly managed by Group Tax Department),
‒ when necessary, support strategic client meetings, RFPs and deal presentations;
Be the point of contact of the Tax Function for the purpose of:
‒ getting information about Securities Services’ activity (services description, markets presence, agreements signed with tax authorities, BP2S fiscal status, etc.)
‒ answering tax queries from the Tax Function,
‒ escalating to the Tax Function tax analysis/interpretation issues and the need for lobbying actions,
sharing with the relevant teams any guideline/message from the Tax Function
Note: The detail above reflects a globally approved job description since there are people in other locations who perform or may in the future perform a similar role.

JOB PURPOSE

Use tax technical and practical experience/knowledge to: a) help ensure that the Bank is sufficiently protected from the tax risk generated from the provision of services to clients as well as/and (yet) at the same time b) help ensure that from a tax perspective, we provide a commercially appropriate scope/level of service to our clients.
This is a senior tax specialist role where the employee will use his significant market experience to define and oversee the tax services provided to the client based on BNP Paribas’ global guidelines and the specifics of the client.
Due to the nature of the activity, this can only be completed by an experienced tax specialist with good understanding of our client’s business and structure and an ability to undertake tasks independently in line with the agreed products and services provided by BNP Paribas.
The person undertaking this role does not need day to day supervision and is confident in their own knowledge and responsibility, making them able to guide other teams internally in completing their related activities.

The Tax Service Business Manager has a key role to play:

• Assessing & securing the risks linked to the tax business services, with the help of relevant functions.
• Help developing an offer that will generate substantial revenues and be recognized on the market by clients & competitors
• Do this for all BNP Paribas Securities Services business line products – excluding MFS