Senior Tax Manager: Insurance - Sandton, South Africa - Absa Bank Limited

Absa Bank Limited

Verified Company

Sandton, South Africa

2 weeks ago

Posted by:

Thabo Mthembu

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Description

Bring your possibility to life Define your career with us

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Role entails preparation of accurate tax technical, policy and process documents and providing solutions to any tax-related issues that arise as well as being a trusted advisor to senior management mainly within the short and long-term insurance businesses.

Responsible for identifying and mitigating risk, escalating any relevant issues to Stakeholders (i.e. the Board, shareholders, CFO, finance and business teams), providing tax solutions that are aligned to commercial activities and proactively identifying tax efficiencies. Considering the tax implications associated with transactions to enable business strategy, nimble business decisions and growth.

Job Description:

Relationships and Stakeholder Management:
Building strong relationships with all relevant internal and external stakeholders, including Group Finance, Risk & Compliance, Legal, Group Tax, Industry Bodies, Revenue Authorities as well as Auditors (internal and external)
Helping to build appropriate awareness, capabilities and sense of ownership with colleagues across the business impacted by tax considerations;
Managing Revenue Authority relationships and any associated voluntary submissions or enquiries
Tax Risk Management:
Identifying, recording, measuring, and reporting specific Tax Risk issues as and when they arise, identifying mitigations and implementing them on a riskprioritized basis
Developing risk awareness throughout the business to reduce Compliance Risk
Providing support in the maintenance of robust controls and governance for all tax processes
Tax Advisory:
Manage compliance with tax laws in all aspects of business transactions or activities
Provide tax planning and review of complex transactions or business activities
Achieving optimization by identifying areas of tax savings and integration of tax planning initiatives into business transactions and/activities
Manage and coordinate tax audits
Prepare all tax papers on a regular basis and handle all information data requests
Provide leadership with respect to tax planning, compliance, and control
New and existing product evaluation to determine taxation impact onand advise on taxation optimization
Monitor current and impending legislative and regulatory tax law developments, communicating the impact of these developments to management
Providing technical tax support to different areas of the business
Tax Compliance:
Facilitate and provide oversight on tax provision and compliance process as well as timely delivery of these objectives
Facilitate and provide oversight in ensuring that the tax financial reporting, calculation, and reconciliation processes are performed
Reviewing corporate tax annual statutory reporting disclosures for all companies within the scope of responsibility
Providing support in ensuring that the external compliance tax reporting and associated reconciliations are undertaken accurately
Monitoring and reviewing strategies, policies, and processes relating to the role with a view to managing the implementation of improvements to increase efficiency where possible
Innovation:
Improve processes by developing or implementing best practice

Qualifications and experience required:

Bachelor of Commerce / LLB
Postgraduate qualification in Tax
Minimum of 7 to 10 years' experience in Insurance Tax (Long and Short-Term) and General Corporate Tax is essential
Tax compliance experience is essential
Long and short term insurance tax is a must

Education

Postgraduate Degrees and Professional Qualifications:
Financial Sciences (required)