Tax Specialist

2 weeks ago


Johannesburg, South Africa Nedbank Full time

**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 pro-active 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
- Pro-actively 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 ad-hoc 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 - NQF Level- Advanced Diplomas/National 1st Degrees
- Professional Qualifications/Honour’s Degree
- 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- 5-7 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
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