Tax Specialist - Johannesburg, South Africa - Nedbank

Nedbank

Verified Company

Johannesburg, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Closing Date

24 February 2023
Job Purpose
To manage and minimise the cost of taxation in its broadest sense to CIB. To control, evaluate and minimise all tax exposures emanating from transactions concluded within CIB or administered on behalf of Nedbank within CIB through ensuring compliance with absolute integrity with the requirements of relevant fiscal legislation. To provide a proactive service to CIB, in all its service lines, to facilitate the successful generation of business within those business lines.

Assist Group Tax and other business units within Nedbank on taxation related issues
Responsibilities:

Manage Financial & Business Results

Meet and consult on frequent basis with dealmakers in CIB in terms of transactions/project they are working on
Proactively meet with CIB units on new opportunities resulting from legislative changes and potential new transaction structures
Review and consider the taxation consequences of transactions prior to it being submitted to the Credit Committee for credit approval;
Assist dealmakers within CIB in terms of briefing Counsel and analysis of tax opinions, attending consultations with Senior Counsel and getting transaction structure approved within the Nedbank Approval Framework
Attend meetings with clients and their advisors, assist in negotiating terms of agreements and reviewing of transaction documentation from a taxation perspective
Review and approval of a transaction's relevant terms sheet as well as the legal agreements from a taxation perspective
Suggest structuring solutions to the relevant transaction teams to enhance/ optimise the taxation consequences of a particular transaction from a Nedbank CIB perspective;
Research domestic and foreign tax legislation and double taxation agreements for purposes of mitigation of tax risks associated with transactions

Manage Stakeholder Relationships

Advise on the tax consequences of proposed transactions / structures with 3rd party clients and their advisors
Assist CIB dealmakers in negotiations re taxation related terms and conditions with clients and review of legal documentation
Assist the client and/or its advisors in obtaining the necessarily external opinions from Counsel of choice
Regular meetings and formalised discussions with units within CIB on specific tax topics relevant to their focus area
Tax Update meetings with relevant units within CIB if and when appropriate distribution of relevant notes on tax issues to be considered in the structuring of transactions well as administration thereof
Review of changes to fiscal legislation and its impact on current or past transactions and communicating such to administrators and/or dealmakers
Implementation of a formalised tax training programmes relevant to the particular CIB Division from time to time

Manage Internal Processes

Active involvement in various stages of the approval and implementation of CIB transactions
Advise dealmaker in the final structure of a particular transaction
Assist the dealmaker in the preparation of the Credit Committee/Investment Committee paper in respect of the taxation consequences of the proposed transaction
Assist dealmakers, from a taxation perspective in obtaining approvals in terms of a New Product Approval
Nedbank and finalisation of a term sheet to client
Obtain additional opinions from Senior Counsel if requested by Credit/Investment Committee or Group Tax
Negotiate, discuss and resolve differences between CIB and Group Tax on the perceived tax consequences of a particular transaction
Interaction with CIB Finance as well as Nedbank Group Accounting advisory where the accounting treatment of a transaction has taxation consequences
Review of the final legal agreements from a taxation perspective
Final CIB Tax approval of the transaction sign off
Meet on an adhoc basis with Group Tax and other divisions within Nedbank Capital in terms of tax related issues that may impact on the Nedbank Group

Essential Qualifications

Preferred Qualification

Bachelor of Commerce Degree in Accounting, CA(SA) with postgraduate qualification in taxation
Essential Certifications
Chartered Accountant (SA), Chartered Financial Analyst, JSE Approved Executive, Institute of Chartered Secretaries and Administrators
Minimum Experience Level 57 years working experience post articles in specialist corporate tax environment with knowledge of banking industry, structured finance, treasury products and international tax. Experience of at least 3 years within the tax function within a corporate and investment bank will be preferable.
Technical / Professional Knowledge
Business Acumen
Data analysis
Governance, Risk and Controls
Relevant regulatory knowledge
Research methodology
Relevant tax and legal knowledge
Financial analysis
Financial Acumen