Associate Director, Asset Servicing Operations (Tax)

CMU OmniClear Limited; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Paid annual leave

Job summary

CMU OmniClear Limited invites applications for the Associate Director, Asset Servicing Operations (Tax). This role leads custody tax services, guides tax product design, and ensures compliant, efficient client reporting and operations across global markets.

Strong leadership and cross‑border collaboration are essential. Applicants should have a university degree in accounting or business and at least five years in withholding, securities, and corporate tax within securities services, with prior

Qualifications

• Uni degree in accounting, business or related field.
• Minimum 5 years in withholding, securities or corporate tax in securities services.
• Experience with global banks or market infrastructure providers preferred.
• Strong knowledge of international tax regimes and tax relief workflows.
• Proven leadership and client-facing capabilities.

Responsibilities

• Lead the delivery of custody tax services across APAC and global markets.
• Collaborate on tax product design from testing to production implementation.
• Provide SME input to Global Securities System initiatives and reporting.
• Translate tax rules into automated platform requirements and SOPs.
• Ensure compliance with tax authorities and evolving regulatory regimes.
• Oversee day-to-day operations and transitional servicing frameworks.
• Maintain relationships with custodians and institutional clients.
• Propose tailored servicing solutions addressing client challenges.
• Govern global client tax reporting frameworks (FATCA, CRS, QI, OECD).
• Share insights on local tax changes and market best practices.

Skills

Withholding tax

Securities tax

Corporate tax

Tax operations

Client relationship

Leadership

English and Chinese

Education

Accounting / Business degree

Job description

• Excellent command of English and Chinese
• Lead the delivery of custody tax services
• University degree in Accounting, Business

The Hong Kong Monetary Authority (HKMA) is charged with the responsibility for maintaining the stability and integrity of the monetary and financial systems of Hong Kong.

CMU OmniClear Limited (CMU OmniClear) is a wholly owned subsidiary of CMU OmniClear Holdings Limited, which is jointly owned by the Exchange Fund (as the majority shareholder) and Hong Kong Exchanges and Clearing Limited (as the minority shareholder). It carries out the operation and business development activities of the Central Moneymarkets Unit (CMU) on behalf of the HKMA. As part of the critical financial market infrastructure in Hong Kong, CMU is a central securities depository (CSD), providing secure and efficient clearing, settlement and custodian services for securities. CMU OmniClear’s vision is to continuously enhance CMU service coverage, expand connectivity with other markets and upgrade the CMU infrastructure to provide market participants with comprehensive and quality services.

We now invite eligible candidates to join our dynamic and inclusive company for the exciting opportunity below:

Associate Director, Asset Servicing Operations (Tax)

Key Responsibilities

• Lead the delivery of custody tax services (including tax relief at source, quick refund, tax reclaims, etc.) and client tax reporting solutions across APAC and global markets.
• Partner closely with internal teams and external service providers on tax product design from system testing to production implementation.
• Provide subject matter expertise to the Global Securities System (GSS) initiative, contributing to project deliverables, progress reporting, and stakeholder updates.
• Define business requirement specifications to convert market tax rules and sub-custodian workflows into automated platform.
• Formulate and refine standard operating procedures (SOPs) and control mechanisms to ensure CMUOC’s operations comply with tax authorities’ requirements.
• Ensure seamless day-to-day operations while supporting the transition to new servicing frameworks.
• Build and maintain strong relationships with custodians and institutional clients to ensure high levels of service delivery.
• Develop and propose tailored servicing solutions that address specific client challenges and enhance the value proposition.
• Manage the implementation and ongoing governance of global client tax reporting frameworks, including FATCA, CRS, QI regime, and emerging OECD frameworks.
• Provide insights on local tax and regulatory changes and market best practices to enhance CMUOC’s asset servicing model

Requirements

• University degree in Accounting, Business, or a related discipline.
• At least 5 years of relevant experience in withholding tax, securities transaction tax and corporate tax in securities services, preferably with market infrastructure providers or global banks.
• Solid expertise in international tax regimes, double tax treaty applications and operational processing of tax relief and reclaims framework.
• Experience managing end-to-end custody tax services, including client documentation, tax rate validation and reclaims monitoring
• Extensive background in tax operations and lifecycle management.
• Experience leading global asset servicing teams and supervising sub-custodians or service providers.
• Demonstrated success in client facing roles, including pitching and relationship management with institutional clients.
• Familiarity with fixed income and equities products.
• Strong organisational skills, attention to detail, and effective communication skills to handle client inquiries.
• Analytical problem solver with the ability to manage competing priorities and deadlines.
• Excellent command of English and Chinese.
• Candidates with supplementary experience and qualifications will also be considered, even if they do not meet all of the specified requirements above.

(Candidates with less experience may be considered for an offer of appointment at Senior Associate level.)

Conditions of service

• Appointment will be offered by CMU OmniClear
• A competitive remuneration package will be offered. There is flexibility to take account of additional experience and qualifications
• Fringe benefits include medical and dental benefits and paid annual leave

CMU OmniClear is an equal opportunities employer and welcomes application from all qualified candidates. All information provided will be handled strictly in accordance with our personal data policy, a copy of which will be provided upon request. You may contact the Recruitment Officer at the above address.

The Online Application System is scheduled to perform regular system maintenance from Hong Kong time 6:00 a.m. to 8:00 a.m. every Wednesday. During this time, online application will not be available.

Learn more about the business of CMU OmniClear: www.CMUOmniClear.com.