BNP Paribas Securities Services is a multi-asset servicing specialist with local expertise in 36 markets around the world and a global reach covering 90+ markets. This extensive network enables us to provide our institutional investor clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.
As of 31 December 2018, BNP Paribas Securities Services had USD 10.660 trillion in assets under custody, USD 2.662 trillion in assets under administration, 10,545 funds administered and 11,932 employees.
The Fund Accounting Department comprises a number of different functions in the administration of UK Investment Trusts, UK Open Ended Investment Companies, Unit Trusts and UK administered SICAV’s and Dublin funds.
The Taxation Team exists within the Fund Accounting Department to provide UK Taxation compliance services to clients with support being provided in the following areas:
- Direct liaison with Clients, internal and external stakeholders (inclusive of H.M. Revenue & Customs) in the provision of taxation services
- Calculation of periodic corporate tax provisions
- Payments and refunds of tax made by the required deadlines
- Tax returns prepared and submitted to H.M. Revenue & Customs
- Resolution of technical exceptions and leading client interaction in respect of Withholding Tax reconciliations between Custody and Accounting
- European Investor Tax Reporting
- Management of 3rd Party Tax Agents
Purpose of the position:
- To manage the operational activities of the UK Taxation Service team on a day-to-day basis, including management, support and development of staff members – acting as a suitable escalation point for all service deliverables.
- Management of Client, internal and external stakeholder relationships ensuring contractual commitments and regulatory deadlines are met.
- To work with the Head of UK Fund Tax in developing and implementing the strategic plan for Tax.
Key Responsibilities of the role:
Management of Service Delivery
- Responsible for ensuring all tax affairs of Investment Trusts, Open Ended Investment Companies and Unit Trusts are maintained to the highest standards of accuracy
- Responsible for ensuring all client KPI’s and service delivery commitments are being met in accordance with client service level agreements
- Ensure plans are in place for ad hoc client events.
- Monitor the ongoing production process and the effective utilisation of resources.
- Act on feedback from client reviews to maintain client satisfaction.
- Perform final review of work as required
- Monitor team productivity and resourcing, identifying potential savings and improvements and escalating any issues as appropriate.
- Monitor and evaluate the continuing effectiveness of processes, system and procedures initiating remedial action as necessary.
- Plan and manage all relevant project work in conjunction with Client Lines Team.
- Contribute to the development of new products and services.
- Responsible for ensuring complete, accurate and timely error reporting ensuring preventative actions are suitably implemented
- Closure of actions following incidents, audits and reviews
- Management of the business continuity plan ensuring familiarisation within the team
- Establish and nurture a culture of ‘Risk Excellence’ within the team, encourage an environment of openness that welcomes effective challenge and supports open discussion.
- Ensure the immediate line manager and others, as appropriate, are kept aware of all issues/problems/queries/work in progress that may impact the quality of service being given
- Develop and maintain good relationships with senior staff in client organisations.
- Participate in Service Reviews and ad hoc client meetings and act as a focal point for Client Communication
- Liaise with clients on current and future services and issues.
- Provide support to clients on projects and investigations.
Self Management / Personal Development
- Maintain a detailed understanding of :
o The scope of the role’s managerial responsibilities
o The competence of the staff reporting to you
- Ensure that your team has clear understanding of their reporting lines, authority levels, scope of responsibilities (including those delegated to them and those they delegate), objectives, training and competency requirements plus progress is reviewed regularly in line with company policy, and are regulatory registered where appropriate for their role
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
- Monitor absence levels and ensure absence management procedures are followed
- Manage own time and activities effectively setting an example through good housekeeping and time management
- Take responsibility for personal development and training.
- Keep up to date with legislative and regulatory changes affecting the business.
- Actively participate in the objectives and appraisal processes by completing a self-evaluation and suggesting appropriate development to ensure own effectiveness in a changing business context.
Key Internal Stakeholders
- Internal service providers within AFS Operations
- Operational Control
- IT & Change
- Internal clients (Fund Accounting leadership team and UK Exec management team)
- Support functions (HR, Finance, Compliance, Legal)
Key External Stakeholders
- Taxation clients & oversight teams – existing and potential
- Fund Auditors, external Advisers & third party Agents
- Fund Trustee & Depositary
- Company Secretariat (Investment Trusts)
- H.M. Revenue & Customs
- Manage a team of approximately 4 staff members
- Regular 1-2-1s and team meetings
- Coach, develop and train staff to maximise performance
- Succession planning
- Oversee T&C regime of your team and ensure adherence to company policy
- Conduct interim and annual appraisals
- Absence and poor performance management
- Adhere to HR policies and guidelines
- Adhere to UK management charter
- Responsibility for staff recruitment
Skills and Experience Required
Competencies required for the role:
- Strong management skills
- Excellent communication and interpersonal skills
- Team building and development skills
- Delegation skills (adhering to accepted limits of delegation)
- Solid numerical skills and taxation knowledge
- Good problem solving skills
- Time management and planning skills
- Computer literacy including spreadsheet skills
- Being responsible, reliable and accountable
Qualifications required for the role:
- Degree qualification in relevant subject (accounting or finance related)
- Extensive experience in a Financial Services Tax Environment
- Taxation qualification (CTA or ATT) or demonstrable QBE
- Accountancy qualification (ACCA or CA)
- Fund accounting IOC or equivalent qualifications
BNP Paribas promotes equality of opportunity and is committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation.