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Shared Services and Banking Operations, Tax Utility Director- Firmwide Operations
Morgan Stanley
New York, NY, United States
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Description
The profile of Operational Taxes has seen an exponential increase in recent years as governments globally react to the financial crisis and the focus on tax revenue collection increases. This increase in tax activity requires the Operations division to implement new processes to support these taxes. This is an exciting opportunity for someone who would like to make a direct contribution in managing operational tax risk within the Firm. This role is unique in setting the standard for how firms will manage operational tax risk in the future.
The New York Tax Risk & Advisory team forms part of the broader International Tax Utility (ITU) group, a department dedicated to streamlining and enhancing the operational tax environment within Morgan Stanley, specifically focusing on Canadian and Latin American operational taxes. The group is responsible for setting best practice with regards to controlling and mitigating operational tax risk and performs a number of control / operational functions over a variety of withholding and transactional taxes generated by trading activities across multiple divisions including Equities, Fixed Income, Derivatives and Financing. The successful candidate will therefore work closely with all Operations groups across the firm covering all product lines, Corporate Tax Department and the Business Units.
At a macro level, the multi-faceted and dynamic role requires the candidate to review existing operational tax processes, analyse the operational tax impact of tax regulatory changes and new business proposals in order to be able to influence the implementation of change, in a highly pressured environment.
We are looking for a candidate who is driven to provide consistently high standards, keen to identify and resolve issues, will challenge existing processes and controls whilst working with cross functional teams to implement operational improvements.
Qualifications
Skills Required:
Competency Skills
The successful candidate will preferably therefore
Have a good understanding of transactional and/or withholding tax issues including identifying tax issues as they impact processes and the ability to analyze, understand and communicate tax regulations
Have the ability to be analytical, problem solve with a good attention to detail with a record of identifying and dealing with issues as they arise
Be motivated, self-driven and excited by an operational role with changing priorities and objectives often with tight deadlines
Possess strong team working skills, willing to put forward ideas, coach colleagues and challenge current practice.
Be a strong communicator with good organization and project management skills as the role involves leading tax projects and communicating to a wide range of stakeholders at various levels of the firm.
Be strong and proficient in influencing and impact in order to enact change within the division and across a large stakeholder group
Although the position may not initially involve having direct reports the candidate will be required to coach team members and liaise regularly with a number of internal and external parties.
Knowledge Base:
Provide cross Operational and Business Unit tax support in regards to operational taxes hence knowledge of the banking sector and ideally experience of working in an operational taxes environment or supporting operational taxes from a tax technical perspective
Demonstrate detailed technical tax knowledge of Stamp Duty, Transaction Taxes, Withholding Tax or Capital Gains Tax regimes and international tax reporting and how they impact operational processing and infrastructure, preferably with regards to operational taxes within Canadian and Latin American jurisdictions.
Role & Responsibility:
Monitor and review tax policy and regulation changes that affect current tax processing and communicate the operational tax implications to various key stakeholders
Work with the Corporate Tax Department and external tax advisors to interpret the legislation, provide steer on operational implementation and partner with various Operations teams and Business areas on actual implementation
Create and document operational tax requirements, processes, policies and procedures for Operations to correctly set up systems to ensure tax compliance.
Attend and represent MS at industry forums where legislation and practical difficulties are being discussed
Work effectively across geographical and functional boundaries demonstrating strong relationship skills.
We are looking for an enthusiastic candidate who is driven to provide the highest standards, keen to identify and resolve issues, will challenge existing processes and controls while working with cross functional teams to implement operational improvements. As the ITU group has a global presence there can be opportunity for mobility within the group as well as across Operations broadly as part of the firms mobility program. In addition, ITU is passionate about self-development and may provide study support towards accounting or tax qualifications.