Job Details

Senior Vice President Tax Counsel

Company name

Organization Type

In-House

Job Type

Attorney

Years of Experience

Min 5 yrs required

Location

Arlington Heights, IL

Posted on

Aug 03,2017
Practice Area
Tax >> Tax - General
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Senior Vice President Tax Counsel The candidate with demonstrable technical skills and experience in a broad range of taxes , will play a leading role in: the development, implementation and assurance monitoring of the Group’s Global Standards program in the US with respect to tax transparency (see Role Context for explanation of tax transparency at bank); the management of tax reputational risk across applicable Global Business lines in the US, and; the provision of technical advice and support to applicable Global Business lines. As tax subject matter expert, pro-actively support Global Banking and Markets and Commercial Banking: the provision of ongoing subject matter expertise and monitoring/assurance support to address ad hoc questions and proposals from a tax impact, tax transparency/reputational risk perspective and to ensure maintenance of required standards in a consistent manner; the agreement of tax transparency policy and its practical application into the global customer due diligence model; the establishment of jurisdiction specific policies, procedures and processes for all clients, products and activities; the performance of risk based reviews of existing business for compliance with agreed policies, procedures and processes; As tax subject matter expert, provide strategic direction and proactively advise applicable global business lines and functions in the US on all transactions and new products. Initiate tax technical analysis and advisory support for internal strategy and tax compliance purposes; support Group Tax consultation and implementation efforts on such matters. Develop strong working relationships with a range of stakeholders, including Group Tax, the global businesses, other global functions, other global standards programs and senior management in order to play a leading role in the development and implementation of strategies, policies and procedures as they relate to tax transparency, tax reputational risk tax compliance. Ensure effective cross team working through effective collaboration with global business tax leads, regional tax centers (as needed), and tax and business colleagues generally. Responsible for proactively managing both external and internal stakeholder relationships within the Groups’ global standards deployment framework across all global businesses and relevant global functions within the US. Responsible for making sustainable decisions with respect to customers that protect and enhance bank’s reputation and values and ensure compliance with applicable legislation. Ensure that all tax transparency policies, procedures and processes implemented are undertaken in line with the Group’s global standards strategy and in adherence to the Finance FIM, broader GSM standards and bank’s best practices. Advise proactively regarding the changing environment for the delivery of financial services in the context of high reputational risk and global customer transparency. Exercise best judgment with regard to the application of conflicting business, regulatory and fiscal imperatives, make decisions and ensure recommendations are clearly understood. Responsible for the clarity of communication around the required changes in process and procedure and education of the business in its dealing with clients on a global basis. To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators. Complete other responsibilities, as assigned. Major Challenges: Globalization has expanded trade, increased prosperity and raised global living standards but has also exposed the global financial system and bank to abuse. Financial markets and networks have grown more complex, increasing the need for cross-border vigilance – yet the structure and systems of global banks have not always kept pace. Continuous evaluation of tax transparency concerns and tax reputational risks related to the provision of financial services in a highly complex, fast changing US and global business/ regulatory/tax environment. Effective risk management in light of increased public scrutiny of financial services activities in the context of recent negative publicity. Interpretation and practical application of technical tax legislation. Operating in a multi-disciplinary environment with the need to understand legal, accounting, operational, regulatory, compliance as well as fiscal consequences. Need to proactively manage interdependencies with a number of other Group programs including, Financial Crime Compliance, Sixth Filter, Hold Mail, FATCA, Tax Reporting and Exchange (TRE) and Global Exit Policy. The aim of tax transparency is to safeguard bank from being used by customers or associated with arrangements which are known or suspected to be designed to facilitate tax evasion. Tax evasion involves the concealment of beneficial ownership of assets, income or gains from fiscal authorities. The jobholder responsibility will also need to consider both the tax technical and reputational issues arising for both bank and in relation to transactions with counterparties. Work independently but refer to the global business tax leads in the US and colleagues in Group Tax on policy issues and for guidance where necessary and will report directly to the HNAH Head of Tax. In the application of tax treatment and the evaluation monitoring and control of tax risk, the jobholder will be guided by the relevant Group Standards and policies / procedures working closely with the assistance of the Group Tax and the global businesses. Ensure employees apply compliance, operational risk controls in accordance with bank or regulatory standards and policies; and optimize relations with regulators by addressing any issues. Will play a pivotal role in the tax reputational and tax technical risk management for bank in the US. Ensure that the business is aware of emerging tax issues and risks, and is in compliance with them. Job holder is familiar with the various controls and regulatory requirements in the financial industry. Maintains bank internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. Follow the Group compliance policy by containing compliance risk in liaison with appropriate parties. Able to respond quickly and completely to business inquiries. Should have professional qualification and/or relevant experience within a Tax Authority / advisory firm or within the financial services industry. Client advisory experience with an interest in developing skills in a new environment is preferred. Must have experience with operational taxes. Should have commercial awareness, sound judgment and high quality communication skills with the flexibility to manage the expectations of a range of stakeholders. Must have ability to demonstrate strategic thinking and a track record of getting things done in a complex environment. Should have ability to demonstrate strategic thinking and a track record of getting things done in a complex environment. Specialist knowledge and experience in banking and capital markets, ideally gained in an international or global context, is preferred. Deadline: 17-8-2017.

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