Head of Tax Services

Description of the Department

The Tax Services team is a customer focused team; they support the business and client activities of the Operations division of BNP Paribas Securities Services.  The team works in partnership with our clients to ensure all regulatory client deliverables are met accurately and on time. The team also has extensive interaction and dealings with all teams within the Operations division as well as other internal BNP Paribas Securities Services teams such as the Risk Function and Client Development teams.

The team is responsible for managing the successful delivery of tax services to all of our clients.

This includes the following- 

• Managing the client relationship from a tax reporting perspective.
• Industry involvement in tax, regulatory and software user forums.
• Monthly, quarterly and annual deliverables, including approx. 500 distribution calculations at yearend
• Performing an internal audit function in ensuring tax records maintained are accurate.
• Working with other departments to resolve internal and external queries.
• Produce client tax distributions and detail taxable income calculations (“DTI”)
• Provide technical oversight and review of client tax distributions and DTI
• SME involvement in transitions and projects

All services delivered by these functions are required to consider current legislative and regulatory requirements and they must comply with operational risk guidelines.  The team as a whole is required to contribute to all major projects and transitions. The Team is also required to investigate, manage and resolve client and internal queries which are directed to the team.

Summary of the Role:

The Head of Tax Services (“HTS”) will report directly to the Head of Fund Services and will be responsible for managing two separate functions: Tax Technical and Tax Operations.  The HTS will be responsible for the allocation of work to staff and ensuring the timely and accurate delivery of reporting and calculation services to clients in accordance with service level agreements.

On a day to day basis, the HTS provides support to the Tax Operations and Tax Technical team, enabling them to manage their clients deliverables and assisting them to resolve specific queries with the clients. The HTS is the escalation point for all of our clients.

Working with various teams and individuals in the Operations division, the HTS is enlisted with facilitating excellent client support and service; they deal in a pro-active and effective manner with clients, both internal and external.


Key Responsibilities:

• Manage the Tax Services team to facilitate them to act as the operational contact for clients and to participate in service level reviews and other ad-hoc meetings. Act as the escalation point for the Tax Services team at these reviews and meetings.
• Provide training and development for staff within the team and be able to manage their expectations and development over time. 
• Ensure that allocated client profiles are managed and agreed with all the relevant stakeholders (including external and internal clients).
• Ensure that deliverables to clients are delivered accurately and on time in accordance with agreed Service level agreements (SLA).
• Provide transitions support towards the setup of new portfolios, clients or restructures as per client instructions.
• Participate and actively drive initiatives aimed at improving efficiency and reducing operational risk within the business. 
• Collaborate with Product and other operational teams to ensure new product offerings, services or legislation changes are deployed successfully to production.
• Support the wider team at peak periods and act as the operational cover for colleagues. 

The successful candidate will have at least 10 years Australian experience within the financial services industry and have extensive experience in dealing with managed investment schemes, life and general insurance and superannuation funds.

As the role involves managing a team of operational and technical professionals, it is envisaged that the individual would have  substantial experience in managing similar functions and demonstrated extensive and effective team leadership experience.

 An experienced team leader with integrity, maturity and judgement, who understands how to develop a performance driven team. The role is committed to motivating and developing team members in a supportive and energetic environment to enable the team to achieve its goals in a positive and sustained way.

Demonstrated ability to drive a culture of customer focus and quality and working effectively with others to deliver the strategic goals of the organisation. The candidate has experience in:

• Multi function/team management
• Strategic goal setting and achievement
• Recruiting, developing and retaining quality staff
• Managing and measuring performance, including effective and timely management of under-performance
• Dealing effectively with staff at all levels
  
  

It is expected that the individual will have a proven track record of managing clients and uplifting client service.

The successful candidate will also have extensive experience in risk management and compliance, ensuring appropriate controls are in place to facilitate oversight of the team’s handling of issues, incidents and service delivery. They have a commitment to compliance education and ongoing policy development and implementation of the risk framework and management and eradication of errors.

Technical Skills required for the role:

• Proven change management capability
• Knowledge of fund accounting, financial reporting and tax reporting and related operational risk and compliance requirements of the client service function.
• Good understanding of the application of tax principles in relation to unit trusts and the impact on its unitholders.
•  Up to date knowledge of Australian tax legislation and accounting standards.

Core Competencies required for the role:

Relates and compares data on operational (i.e. day to day) effectiveness from different sources. Establishes goals and requirements that reflect the organisational objectives and values.

• Change management - Ensures accuracy and implements processes to ensure quality of output.  Ensures high personal standards in all areas of work. Displays flexibility to change and is open to new ideas. Encourages others to be open to innovation. Values feedback and gives people scope and confidence to generate ideas.
• Client Focus - Complete commitment to provide professional, intelligent and timely responses to our clients’ needs and to changes in the market
• Collaborative approach - Supports and shows respect for others. Puts people first and works effectively with individuals, teams and clients.
• Excellence - Results driven, committed to achieve consistently high standards in people, products and service that will make us the provider of choice for clients, and deliver returns for shareholders
•  Individual leadership – Uses an appropriate interpersonal style to inspire and guide colleagues towards goal achievement. Adjusts behavior to accommodate tasks, situations and individuals.
• People leadership – Creates and achieves the desired strategic direction of the organization through influencing individual and group goals, processes and reward systems. Role models the organisational values at all times.
• Resilience - Continues to work effectively and pursue goals when faced with obstacles, periods of change and uncertainty, or resistance from others. Maintains effectiveness in uncertain or ambiguous situations.
• Risk awareness - Adheres to the organisation’s processes and procedures.  Demonstrates a good understanding of compliance issues and implements work practices that minimise operational and reputational risk
• Team development - Optimises performance through working together.  Understands how different individuals bring different skills and approaches.  Works together to achieve collective goals.
• Technical/professional knowledge - Demonstrates a satisfactory level of technical and professional skills/knowledge in job related areas. Keeps abreast of current developments and trends in area of expertise