Tax Risk Management

7 months ago

Sandton, South Africa Absa Bank Limited Full time

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

Accountable to the Head Tax Risk Management - Group Tax (the Head) for the overall management of tax risk of the group. Key responsibilities include supporting the Head by contributing towards the overall tax strategy, the operating model, control design and integration within the Group. The key purpose of this role is to drive the risk strategy of the tax function and manage the risk profile and control environment across the Group. This includes the coordination and development of assurance plans, testing and monitoring processes of the tax environment across various jurisdictions. In addition, carrying out of assurance over Group Tax’s critical processes and risk and control assessments as well as analysing key risk information, identifying tax risk, assessing the control environment and escalation to tax and finance management with remediation plans. Responsible for embedding tax governance and training to drive compliance and adherence to tax law and regulations.

**Job Description**:
Key Accountabilities

Accountability: Driving tax risk management strategy
- In collaboration with the Head of tax risk, contribute, with thought leadership, to the development of the tax risk management strategy in line with overall operational risk strategy.
- Develop and enhance the future of Absa’s tax risk governance and controls to mitigate tax risk.
- Driving the Group’s tax capital adequacy process.
- Driving the development of the tax risk appetite.
- Embedding tax governance in all jurisdictions of Absa’s footprint
- Challenge the completeness, relevance and management of risks associated with the execution of the Group Function’s strategy.
- Improve on tax risk management strategies through exploring and implementation of digitalisation, automation and the standardisation of operating processes.

Accountability: Tax risk governance
- Development and maintenance of Group Tax’s Standards and Policies in collaboration with the second line of defense function.
- Provide in-depth knowledge of the tax risk systems and processes to improve the Group’s tax risk environment.
- Track, perform and monitor training on all Tax risk governance standards.
- Develop appropriate Key Risk Indicators for the Group Function in line with the Group KRI requirements.
- Develop the Group’s tax risk and control library.
- Represent Group Tax in risk committees, where applicable.
- Ensure the function and control environment assessments are timely, effectively completed.

Accountability: Stakeholder Management
- Provide support to the Group Functions team and Business functions to effectively manage Tax Risk.
- Build an effective working relationship with key stakeholders and ensure that risks are reported with completeness.
- Establish and maintain strong relationships with Group Operational Risk community of the Bank.
- Establish and maintain strong relationships with Absa Group subsidiaries and stakeholders.

Accountability: Tax risk reporting
- Responsible for the preparation of Tax risk reports to the relevant governance and risk committees.
- Operational Risk reporting, the risk and control assessments and other risk reporting as required.
- Implementing improved reporting processes to drive efficiencies.
- Responsible for all tax risk reporting to various forums and committees on a frequent basis.
- Responsible for managing the group-wide tax risk forums and committees.
- Drive remediation of tax risks in business by developing action plans to mitigate tax risks.

Accountability: Combined Assurance
- Development of and input into the assurance and conformance testing plans across the group
- Represent Group Tax in combined assurance forums and other risk committees of the Bank.
- Carry out control testing in accordance with the three lines of defense methodology.
- Leverage appropriate systems and controls including assurance methodology to identify, assess, measure, report, control and manage key risks.

Accountability: Participation in internal and external forums
- Represent Absa Group Tax in internal and external Industry forums.
- Driving the Group’s tax risk strategy in relevant forums

Accountability: People management
- Supervise a team to ensure effective daily operations.
- Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members.
- Determine development needs for the team and ensure that identified training requirements are budgeted for and executed.
- Establish and maintain a succession plan for the team.
- Assist with the interviewing and recruitment of n

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