International Tax Utility Associate

  • Competitive
  • Glasgow, Scotland, United Kingdom Glasgow Scotland GB
  • Permanent, Full time
  • Morgan Stanley
  • 23 Mar 18 2018-03-23

See job description for details

Com p a ny P r o file:

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile:

The Operations division is both the first line of defence for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back.

One of the largest divisions in the firm, Operations has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, we continually strive to improve while actively supporting the development of new businesses, structures and markets. Firmwide Operations includes Shared Services and Banking Operations (SSBO), Operations Risk and Control, Global Project Group and Metrics, Branch Operations and Divisional Management.

Team Profile:

Shared Services Banking Operations (SSBO) provides utility processing services to Global Operations. By functionalizing processes across segments, SSBO realizes efficiencies through scale, location strategy and adoption of best practices. Shared Service and Banking Operations delivers industry leading operational solutions by aligning the right functions, people, processes and tools into ten core disciplines offering tailored client service levels that are efficient, controlled and compliant with regulation. Our core disciplines include: Asset Servicing, Cash Management, Client Data Management, Global Banking Services, Loans Servicing, Network Management, Payments (Wireless and Disbursements), Reconciliations, Settlements and International Tax Utility.

International Tax Utility (ITU) helps senior management and its individual business units manage the Firm's Tax risk by owning and driving forward the Operational Tax Control framework. Maintaining and enhancing the internal operating processes, the division is crucial to safeguarding the Firm's franchise, proactively identifying and reporting on all in scope Tax risks.

Glasgow ITU consists of 3 teams with 18 staff who perform a number of control / operational functions over a variety of taxes generated by trading activities across multiple divisions including Equity and Derivatives Trading. The team are responsible for 11 Vendor (eClerx) who provide support to the processing teams in Glasgow.

Primary Responsibilities:
An opportunity has arisen within Glasgow ITU's Tax Reconciliation team for a full-time associate to join the team assisting on withholding tax processes and risk initiatives. The Tax Reconciliation team manage: the firm’s reclaim process along with related audit requirements; client processes including tax vouchers and certification; account set-up for tax purposes; implementation of tax changes to processes owned by ITU and other departments.

The key responsibilities of the successful applicant will include:
- Reconciliation of complex firm tax reclaims across various global markets
- Review of lodged reclaims to ensure in good order with tax authorities and analysis of market practice
- Support of the risk framework, analysing Key Risk Indicators and impact of regulatory market updates

- Coordination of Tax Authority audits and reconciliation of required information such as trade patterns, depot movements, etc

- Control of client tax offerings and liaising with the relevant BU to ensure compliance
- Supporting the ITU Enhancement strategy to improve systemic tax processing
- Control of processes outsourced to external vendor

This is not an exhaustive list and tasks and responsibilities may change to maintain our high levels of service.


Skills Required: (Essential)
- Strong analytical and reconciliation skills
- Good communication skills, both written and verbal
- Ability to grasp detailed concepts quickly
- Ability to work well as part of a team, in order to meet changing deliverables
- Knowledge of Operational Risk

Skills Desired:
- Basic awareness of tax concepts such as tax treaty agreements
- Transition and supervisory oversight of outsourced functions
- Advanced Excel skills

- Experience in assisting/testing on system developments/IT Requirements

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents. *LI-AM1