Tax Manager – Research & Regulatory Team

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • BNY Mellon
  • 16 Aug 18 2018-08-16

Tax Manager – Research & Regulatory Team

Overview Of BNY Mellon:

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.


The tax services team focuses on Tax & Regulatory Research, Tax Strategy, Development & Enhancement of Tax Services, Tax Risk Management, Market Presence, Client Facing Tax Support and Leveraging Tax Expertise across BNY Mellon's Investment Services globally. The key component for this particular role is taxation within Investment Services with a strong background in tax research. The role will also involve researching regulatory initiatives that have an impact on investment services.


• This position will report to the Global Head of Tax Research Group (part of Tax & Regulatory) in BNY Mellon's Investment Services division.

• The candidate will take a lead role in regulatory and tax research strategy and tax monitoring of all markets in the global custody network that supports our Investment Services business.

• The candidate will work closely with our Tax Services Team and all tax experts in the organisation, including Corporate Tax and our Tax Operations area.

Specific responsibilities include:

• Analysis of impact to the business and to clients where there are any market Withholding Tax/Securities Taxation change (coverage of over 100+ investment markets).

• Review and analysis of tax services to ensure BNYM complies with relevant local tax requirements.

• Work closely with the Tax Operations functions to fully communicate any changes which impact the day-to-day servicing of clients from a tax perspective. Coordination with Corporate Tax as and when appropriate.

• Ensure market change is communicated in a concise, factual manner both internally/externally.

• Preparation of analysis to support discussions/meetings with tax authorities/governments as necessary to advocate workable solutions to tax relief models.

• Respond to tax technical queries, supporting Tax Operations functions and clients, working with client relationship managers where necessary.

• Research, preparation of analysis and communication of key regulatory initiatives impacting investment services.

• Deliver ad hoc training where necessary.

• Close collaboration/communication with BNY Mellon's sub-custodian network and Global Network Management team.

• Contribute and work with Tax Policy and any Tax Steering groups as and when required.

• Participate in meetings with clients to review tax changes and where necessary work closely with the clients dedicated tax service provider/tax advisor.

• Create customized client tax matrix reports on an ad-hoc basis

• Participate in relevant tax industry working groups meetings as necessary.



• Extensive tax and regulatory experience (at least five years) in the Investment Services or Asset Management business, Professional Services Firms or Law Firm.

• Custody Tax:

o Withholding Tax practices on securities (domestic and foreign withholding taxes, tax treaties, financial transaction/securities taxation, taxation of investment funds).

o European Court of Justice tax cases impacting securities (e.g. Fokus Bank case)

o Capital Gains tax treatment of securities

• Strong analytical skills.

• Ability to work and communicate with all levels of staff.

• Ability to work both independently and as part of a team.

• Proven ability to use electronic tax research engines.

• Team player able to work across multiple lines of business with excellent communication skills, both written and oral.

Risk Management Responsibilities:

• Tone from the Top - Ensure that a strong risk management and governance culture is embedded throughout the Business Unit by promoting the 'Three Lines of Defence' model (by working collaboratively with the Second and Third Lines of Defence to identify risks, conduct root-cause analysis, implement remediation activities and to communicate lessons-learned findings) and by developing and implementing strong risk practices across the Business Unit (including the use of the RCSA as the key management tool to actively manage risk within the Business Unit).

• Risk Competence & Knowledge - Understand the Business Unit's Risk Appetite and how this relates to the legal entity infrastructure and the legal entities under which the Business Unit operates and the legal entities through which the Business Units' client(s) contract and the impact that this has on the Business Units' regulatory operating environment.

• Accountability - Ensure that responsibilities related to risk management are clearly defined and understood throughout the Business Unit to ensure that risks are identified, escalated and remediated in an effective and transparent manner.

What we can offer you

• Challenging and supportive environment

• 25 days holiday (in addition to Bank Holidays) plus opportunity to purchase up to 5 extra days

• Highly competitive benefits package including pension and private medical cover

BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: United Kingdom-Greater London-London
Job: Finance/Accounting
Internal Jobcode: 70211
Organization: Glb Fund Accnt & Fund Admin-HR13984
Requisition Number: 1812328