RESPONSIBILITIES
- The primary purpose of the role is to ensure that ASEAN cluster tax risk is well managed and remains within risk appetite.
- This role has supervisory responsibilities and therefore the Bank’s supervisory principles must be followed.
Strategy
- Contribute to the development and implementation of a tax strategy for the ASEAN cluster consistent with the Group’s.
- Understand and contribute to the cluster’s business strategy.
- Partner with the ASEAN and local CFOs, influence development of regional tax policy and legislation in the region that is sustainable and achieves the policy objectives with minimum compliance and collateral costs.
Business
- Provide oversight for the provision by external advisers of all tax matters and reporting advice to business and on corporate transactions, where required partnering with Business Tax team members.
- Sign off all regional tax aspects of material format approvals such as product country addendums, change in structure forms and repatriation requests.
- Partner with Business units together with ASEAN Tax teams, ensure impact assessments are undertaken for all tax law changes with a material impact on the cluster’s tax profile and ensure key stakeholders are kept informed of material impacts of these developments where relevant.
- Support clients by proactively managing ASEAN taxation to facilitate successful business within tax risk appetite.
- Maintain relationships with key stakeholders in key ASEAN countries.
- Work with ASEAN Tax teams and Tax specialist groups as required, to proactively identify and execute on value opportunities that are consistent with the Group’s Approach to Tax and Tax Policy.
Processes
- Oversight of the forecasting, reporting and tax compliance processes in accordance with the various Tax Standards including processes for direct tax, indirect taxes, transfer pricing and client tax reporting.
- Oversight of the advisory support for all tax matters partnering with the Business Tax and other specialist Tax teams where required.
- Engage with senior stakeholders (i.e. CEO, CFO)
Risk Management
- Discharge Tax responsibilities for ASEAN jurisdictions in accordance with the Tax Standards and Operational Risk Framework.
- Manage ASEAN direct & indirect tax risk within the risk appetite of the Group.
- Support ASEAN Tax teams in reviewing and signing off material corporate income tax returns and indirect tax returns.
- Set strategy for resolving controversy for ASEAN jurisdictions and together with the ASEAN Tax teams drive any material settlement or litigation matters.
- Ensure judgemental decisions regarding material uncertain tax positions in respect of transactions are escalated with an appropriate recommendation.
- As Cluster Tax RCO for ASEAN, review and counter-sign attestation to support compliance with relevant tax controls.
- Provide subject matter expertise to Financial Crime Compliance as required with regard to tax evasion aspects of financial crime compliance and other key stakeholders as required in support of non-client tax evasion matters.
- Ensure relationships with ASEAN tax authorities and auditors are managed in a transparent, professional and constructive manner.
- Provide support to ASEAN Tax teams in the roll out of group wide tax risk management initiatives.
- Specifically for Head of Tax Singapore Role (in addition to that of the ASEAN Cluster Head of Tax Role)
Client tax information Reporting
- Identifying, sourcing, validating and reporting client tax information to tax authorities (and clients), including reporting obligations imposed under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standards (CRS).
- Managing and enhancing the governance around Client Tax Information Reporting activities across all business lines, client segments and countries.
- Providing tax support and oversight to the bank’s AEOI reporting processes, including overseeing transition of all tax aspects of the process to BAU.
- Monitoring, reviewing and implementing changes in the CTIR tax technical landscape working with external advisors and internal stakeholders to agree appropriate reporting.
- Ensure Group Client tax compliance policies, procedures and standards are effectively implemented and executed through the regional compliance teams for all relevant regulations.
- Manage and ensure all appropriate client tax compliance advice, training, risk assessment and monitoring is delivered to Group staff in all relevant jurisdictions.
Tax Reporting & Forecasting
- Ensure accurate and timely quarterly group tax reporting, tax forecasts of the group’s effective tax rate and other reporting as required for Group reporting purposes.
- Create and provide reporting to internal and external relevant risk and control committees and regulators on key and compliance risks and issues.
- Manage the external and internal tax reporting for the branches and subsidiaries.
- Compile and report on tax liabilities in compliance with relevant legislation and standards.
- Ensure tax returns are accurate and submitted to the tax authority in accordance with the statutory timelines.
- Assist in the overall management of tax risk by ensuring that tax risk is identified, controlled and managed in accordance with SCB Group policy.
- Review legislative and regulatory changes and ensure that the business is informed of relevant changes.
Transfer Pricing
- Provide Transfer Pricing advice and support for group cost recharges related matters to the entire Group network.
- Manage and maintain a governance and control framework in compliance with SCB Group’s Operational Risk Framework for all Transfer Pricing processes.
- Understand the requirements from the country tax and finance teams and prepare local country transfer pricing reports and analysis.
- Support Advance Pricing Agreements, Mutual Agreement Procedures, and transfer pricing audits.
People and Talent
- Communicate vision of the role of the ASEAN cluster tax function and role-model collaboration across the Tax function.
- Lead through example and build the appropriate culture and values. Set appropriate tone and expectations for the team and work in collaboration with risk and control partners.
- Ensure the provision of ongoing training and development of people, and that holders of critical functions are suitably skilled and qualified for their roles and effective supervision is in place to mitigate risks.
- Employ, engage and retain high quality people with succession planning for critical roles.
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
- Provide additional support to ASEAN Tax teams where required, particularly where growing a team member into the role or in cases of performance issues.
Governance
- Manage governance arrangements relevant for ASEAN direct & indirect taxes.
- Take personal responsibility for understanding the risk and compliance requirements of the role and communicating the same to the team. Understand and comply with, in letter and spirit, all applicable laws and regulations, including those governing anti-money laundering, terrorist financing and sanctions; the Group’s policies and procedures; and the Group Code of Conduct. Effectively and collaboratively identify, escalate, mitigate and resolve risk and compliance matters.
- Embed the Group’s values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.
Regulatory & Business Conduct
- Display exemplary conduct and live by the Group’s Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Lead the ASEAN country teams to achieve the outcomes set out in the Bank’s Conduct Principles
Key Stakeholders
- Cluster CFO ASEAN & South Asia, ASEAN Country CFO’s and Financial Controllers, ASEAN Business Heads & COOs, ASEAN COO, Legal, CFCC, Global Process Owner, Members of the Tax Leadership Team, Members of the Business Tax and other specialist tax teams.
- ASEAN Tax Authorities,
- Participation in relevant Banking Association Tax Committees (CMTC, ASIFMA, Local Banking Associations etc)
- External Advisers and industry peers.
- External Auditors
Other Responsibilities
- Embed Here for good and Group’s brand and values in ASEAN tax teams. Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats);
Our Ideal Candidate
- 12+ years of experience in the financial services space with people leadership skills
- Strong experience in implementation of regional tax strategies
- Subject matter expert on tax information reporting regimes
- Effective communication skills including discussion with stakeholders
Role Specific Technical Competencies
- Tax Management
- Tax Technical
- Regulatory & Compliance
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
- Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
Recruitment assessments
Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website www.sc.com/careers
