Bank jobs in United States

Associate, UK Taxation, Europe & Asia Pacific

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BUSINESS UNIT DESCRIPTION

CIBC is a leading Canadian-based financial institution with over 43,000 employees worldwide and annual revenue in excess of $12 billion per year. Within CIBC, the Wholesale Banking arm provides a wide range of credit, capital markets, investment banking and research products and services to government, institutional, corporate and retail clients in Canada and in key markets around the world. Our 2,500 employees work in highly disciplined cross-functional teams to leverage industry knowledge and deliver innovative capital solutions and advisory expertise across a wide range of sectors.

The Taxation Group is responsible for providing tax advisory and planning services in support of transactions, products and strategic business initiatives and tax compliance services for the CIBC group of companies worldwide. UK Taxation as part of Taxation Group provides advisory services to internal clients within CIBC with respect to taxation issues affecting the Bank, its products, employees and clients.

UK taxation provides first point of contact and faces the UK tax authorities (HMRC) and is responsible for select tax compliance matters for the Bank.

JOB PURPOSE

To protect the CIBC group, its shareholders, officers, directors and employees as well as its clients by providing taxation advice and regulatory guidance to support the development of plans, strategies, policies, practices and procedures as appropriate or necessary, while reducing the risk, costs and penalties, both tangible and intangible, of non-compliance with the tax laws and regulations impacting our many businesses.

JOB PURPOSE (continued.)

Effectively assist the ED to manage corporate tax and related issues for CIBC, with specific focus on Tax Compliance matters across Europe and Asia Pacific.

Assist with advising and supporting the wholesale capital markets business on live multi branch business opportunities (UK, Canada, US, Europe and Asia Pacific) and controlling tax risk via trading documentation, including ISDA's, GMSLA's, GMRA's.

Assist on cross border lending projects, including transactions initiated outside CIBC UK, e.g. Canada and US and inbound to Europe and Asia Pacific.

KEY ACCOUNTABILITIES

• Preparation of the London Branch corporation tax computation and return
• Calculation and management of quarterly instalment payments
• Monitoring of Effective Tax Rates across Europe and Asia Pacific
• Review of UK VAT returns prepared by the Alteryx system and submission via external provider
• Calculations and payment of any UK Bank Levy liability
• Preparation of UK regulatory returns e.g. BBSI returns, Corporate Interest restriction, AEOI etc
• Preparation and collation of Transfer pricing documents and requirements across Europe and Asia Pacific
• Assist with the oversight of Compliance matters in Europe and Asia Pacific
• Ad hoc assistance with advisory and lending projects

• Implement the development of effective tax strategies ensuring compliance with applicable tax regulations.
• Ensure that roles, responsibilities and accountabilities as regards taxation matters are defined and understood, with revisions as and when appropriate to reflect changes in the needs of the businesses, regulators and legislation.
• Maximize effectiveness of tax knowledge transfer by encouraging tax awareness and compliance culture amongst client business groups. Selectively channeling effort to groups with the greatest and most pressing
• Help to shape and influence business strategies and strategic planning with a view to managing tax risk.
• Assist with providing the necessary guidance to business units in order to ensure that business plans are both formulated and implemented in a manner consistent with the relevant local taxation, legal and regulatory regimes and the Bank's own internal policies.
• To interact with taxation authorities or regulatory agencies as required, e.g. assist with managing the continual UK tax audit cycle.
• Help to identify, assess and analyse the tax implications of a strategic initiative or transaction, develop a comprehensive plan, manage key areas of tax risk and opportunity and provide recommendations to business partners.
• Assist with the implementation and maintenance of tax proposals or tax aspects of a transaction including, serving as a team member on multifunctional projects, interpretation and resolution of tax issues, reviewing transaction documents and monitoring and ensuring ongoing compliance with tax guidelines.

CROSS-FUNCTIONAL RELATIONSHIPS

Support the wholesale bank; Capital Markets, Corporate Banking & Investment Banking as required, primarily through assisting the ED and the Head of Tax, Europe and Asia Pacific. This will involve collaboration with other functions such as Legal and Client onboarding.

JOB DIMENSIONS

Number of Direct and Indirect Reports: None

Total FTE of Client Groups:

Lines of Business Supported: Wholesale = Capital Markets, Corporate Banking, Investment Banking

Geographies Covered: Europe, North America, Asia Pacific

KNOWLEDGE AND SKILLS

• UK CA and/or CTA with 3 years or more years of tax experience or legally qualified with prior experience in accounting, finance or related field.
• Sound technical taxation and corporate planning knowledge and sound commercial sense.
• Strong technical knowledge of UK tax laws and regulations, preferably with Financial services experience
• Experience in providing basic tax advisory services
• Results-oriented, self-motivated, proactive and proven ability to work independently.
• Focused, thorough and disciplined in approach.
• Decisive, confident and comfortable working closely with and collaborating with business partners.
• Excellent communication skills; able to translate technical guidance into business terms and implications.
• Advanced problem solving skills leading to practical solutions on a broad range of matters.
• Strong initiative and ability to suggest and deliver comprehensive enhancements in work processes.
• Well-developed organization and prioritization skills in order to handle multiple tasks (prioritizing daily work with various project work and demands of client base) within an extremely dynamic environment.
• Strong interpersonal, communication, and influencing skills to develop and maintain productive working relationships on very complex issues with the staff and management of Front Office, Risk Management, Technology, Legal and Finance.

WORKING CONDITIONS

• This role operates under a hybrid model within a normal office environment with little exposure to adverse working conditions and working from home.

What you need to know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit

Job Location
150 Cheapside, London, UK

Employment Type
Regular

Weekly Hours
35

Skills
Accounting, Accounting, Advisory Services, Analytical Thinking, Business, Business Banking, Business Initiatives, Business Opportunities, Business Strategies, Business Taxes, Business Units, Capital Markets, Client Service, Collaborating, Collaboration, Communication, Corporate Tax, Credit, Customer Experience (CX), Decision Making, Finance, Industry Knowledge, Interpersonal Communication, Investment Banking, Legal Practices {+ 27 more}

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