Provide strategic leadership and subject matter expertise to Citi's Custodial services (Funds Services and Custody) business in relation to taxation matters impacting clients.
Manage the tax risk for Citi's Custodial Services business by setting the policy and internal control framework for taxation matters relevant to the tax reporting performed for clients.
Keep abreast of newly enacted and proposed tax law changes relevant to the Custodial Services industry and determining the impacts for clients.
Represent Citi (together with the Product team) in public consultations with Treasury and the ATO on tax changes relevant to the custodial services industry.
Serve as the main liaison point for clients and/or their tax advisors on tax related matters (that are not part of the day to day matters).
Manage relationships with the ATO and Citi tax advisors (PwC).
Preparing and updating the tax policy on an annual basis including setting the default tax methodology (including taking ownership of the annual PwC review).
Reviewing the Client Tax Questionnaire on an annual basis to ensure it is complete (recommend proposed changes to the document when required).
Proactively engage with the Tax and Financial Reporting team to ensure the tax policy is well understood and followed in the tax reporting that is sent to clients (e.g. distribution calculations, tax provisions, tax component processing, and income tax returns).
Attend client meetings and be the client liaison point for tax policy updates and tax law changes including the preparation of written communications.
Work collaboratively with the Funds Services teams to operationalise any tax law changes i.e. implementing changes to systems and processes, including the review of business requirement documents and validation of test results.
Provide regular training sessions to the Funds Services team on taxation matters relevant to the reporting performed for clients (e.g. high risk areas, new products and regulatory changes).
Support the Funds Services team by providing tax advisory input on BAU activities such as:
Tax treatment of complex corporate action events (not covered in the tax policy);
Interpreting Tax Statements from external fund managers before trust components are processed;
Format changes to Tax Statements where Citi is the Transfer Agency provider for clients (including the incorporation of ACSA industry commentary and any ATO changes e.g. ITR section references).
Advising of any WHT rate changes and reviewing the WHT rates within Paxus and Multifonds on an annual basis (with the assistance of the Funds Admin team).
AIIR reporting requirements (custody and transfer agency); and
Creation of new (or updates) to existing templates used for tax reporting purposes.
Work collaboratively with the product team on the development of new service offerings for clients.
Be an active member of the ACSA Tax working group (together with Product) advocating tax issues that are of relevance to Citi.
Communicate and disseminate ACSA Tax working group discussions through to Funds Services to ensure the teams are kept up to date with future changes and topics.
KEY COMPETENCIES / SKILLS
Have detailed knowledge of Taxation.
Ability to demonstrate a high level of verbal and written English.
Proficient at producing and presenting reports.
Excellent interpersonal skills and ability to communicate effectively with staff, at all levels, and third parties.
Proactive and able to use initiative.
Confident with strong decision making skills.
Ability to develop strong relationships within the company and with third parties.
Ability to demonstrate innovation and creativity.
Attention to detail.
Strong leadership skills and ability to work well within a team.
Ability to influence key decision makers
Ability to set and meet objectives.
Strong analytical and problem solving skills.
Excellent organisational skills.
Flexible approach to work.
Time management skills and ability to multitask.
Job Family Group: Operations - Transaction Services
Job Family: Fund Accounting
Time Type: Full time
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