Manager, Custody Tax Operations

  • Negotiable
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 20 Jun 18 2018-06-20

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We are currently looking for a "Manager in Custody Tax Operations"

Standard Chartered Bank ("SCB") offers custody services in a number of footprint and non-footprint markets. In 2017 a new team, the Custody Tax Services Utility ("CTSU") was set up to assist the custody teams when working with our third party sub custodians in non-footprint markets to ensure SCB's custody clients can take advantage of lower withholding tax rates should circumstances permit.

Prior to the creation of this team the option for custody clients to benefit from lower withholding tax rates was quite limited. Hence the CTSU has been setup to help close this gap and work with the various custody teams at SCB to ensure our clients are better serviced with regard to custody tax issues.

The team is intended to grow to 4 staff in total, with two managers in Singapore and two staff in KL, Malaysia.

This position is for the second manager role in Singapore which is for a Custody Tax Operations Manager to report to the Senior Manager of the CTSU and help develop and manage the Custody Tax Service Utility.

As this is a relatively new team, we are still growing our capabilities and knowledge and establishing key relationships with stakeholders.


Key Roles and Responsibilities

Document the requirements for our custody clients to obtain reduced rates of withholding tax on their custody asset income

Prepare presentations on custody withholding tax procedures and processes

Work with existing custody teams to help them update their process and procedures in relation to withholding tax

Provide withholding tax guidance and training to internal stakeholders

Assist the custody teams on the validation of clients' tax documentation

Assist the custody team in providing the appropriate tax documentation to clients and sub custodians

Assist internal teams of Securities Services in how systems will need to be update for correct withholding tax recording and reporting

Provide support to processing teams on withholding tax processing

Resolve client tax documentation related issues with sub custodians.

Maintain a database of the various tax forms for different markets.

Advise the custody teams on the storage of tax forms

Update the various records tracking the work and performance of the team

Meet with the various stakeholders to keep them informed of the progress and development of the team and note any issues for resolution

Help manage the two staff members in Malaysia who will be working for the two managers based in Singapore

Assist in presentations to prospective clients with regard to our custody tax offering

Support the roll-out of the Tax Utility Model achieving the quality objectives and standards set

Contributing ideas for improvement on processes, procedures, end-to-end processing, etc. to team management

Manage operational risk appropriately to avoid any operational and / or reputational losses to the Company / Group





Experience

Previous experience in an Asset Servicing department of a custodian bank

Previous experience in a tax related role (preferably in an Asset Servicing capacity but not essential)

Proficient in MS Office Applications


Nice to have

VBA programming skills

Project Experience

Stakeholder Management

Documenting Processes and Procedures



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