Job Description



  • Specific/ mandatory skills: Understanding of Tax Concepts such at Transactional Taxes, Withholding Taxes, Stamp Duty, QI Reporting, FATCA
  • Open to consider fresher candidates (Yes/No): No
  • Experience range: 1-3 years
  • Project duration: 8 months Starting from November 01, 2022
  • Shift timings: Normally EMEA / UK Shift. However, candidate should be open to any shift.
  • Number of days work from office: As per company policy.


Operational Tax is part of Margin Treasury and Tax Operations and is responsible for managing and supporting all operational tax processes for Banktsche Bank AG and associated entities.  The Tax operations team is comprised of five sub processes 1) Transactional Taxes (Financial Transaction Tax, Withholding Taxes, Stamp Duty etc.) 2) Cost Basis 3) Derivative Tax 4) FATCA 5) Tax Reclaims. The Tax Ops team is responsible for managing key regulatory tasks like reconciliation, payments and reporting of Taxes to the Tax Authorities, FATCA and CRS reporting, allocation of payments, calculation of NRA tax and reconciliation of tax applied between the Bank systems and the tax authorities.


Your key responsibilities

  • Managing the day-to-day processing/deliverables for operational tax processes like Withholding Tax, Stamp Tax, Financial Transaction Tax and Transfer Fees Reconciliation etc. for the businesses/regions supported by Operational Tax including the reporting, payment and reconciliations.
  • Filing tax returns
  • Tax reporting, tax payments and tax audits.
  • The candidate would be expected to well verse with FATCA & CRS regulations and have the ability to understand the various aspects of the taxes like Chapter 3, Chapter 4 and Chapter 61 etc.
  • The day-to-day processing of functions within pre-defined timelines and ensuring the process is run in a controlled manner
  • Ensure that there are no misses in any of the internal/external or regulatory deadlines
  • Mange the Monthly / Annual reporting and relevant payment processes to the regulators
  • Produce Tax MIS and maintain full audit trails
  • Advise on the right level of documentation and tax rates to be applied per country/ counterparty status and ensure continuous maintenance of relevant Tax data on back-office systems
  • Interpretation of amendments to the existing rules and regulations pertaining to the relevant tax. All the relevant Key Processing Indicators are achieved and delivered as agreed.
  • Drive regulatory changes in partnership with IT and Business within operations.
  • Knowledge of Trade Life cycle, Reconciliation of accounts, Exposure to back-office systems and Reconciliation systems like TLM, etc. will be an added advantage
  • Review the processes undertaken within the team and redevelop and redesign where cost savings/efficiencies can be made
  • Ensure all client (internal and external) queries are dealt with in a timely and effective manner. Experience of directly dealing with Clients would be an added benefit

 Your skills and experience

  • CA / MBA / Post Graduate with 1-3 years of prior work experience
  • Area of Expertise: Taxation, Accounts, Finance, Reconciliation
  • The candidate should be well versed with the various Tax regulations and have the ability to understand the various aspects and concepts of taxes like Withholding Tax, Financial Transaction Tax, Stamp Tax, reclaims filing, Reporting and Payments etc.
  • Knowledge of Trade Life cycle, Reconciliation of Nostro and internal accounts, Exposure to back-office systems and Reconciliation systems like TLM, etc. will be an added advantage
  • Knowledge of Tax – Transaction and Stamp Taxes
  • Accounts- Reconciliation, Substantiation, MIS, Payments
  • Settlements – Financial instruments, Custody & Asset management
  • Strong time management, organizational, planning and follow-up skills; ability to multi-task effectively
  • Ability to priorities competing demands 
  • Strong analytical and problem-solving skills
  • Proficient in MS office applications 
  • Strong capacity to assimilate other stakeholders’ perspectives and fast learning abilities
  • Ability to use sound judgment to meet regulatory standards
  • General knowledge of Business Banking product set
  • Preference will be given to candidates having knowledge of process automation tools such as Alteryx, Python.
  • Preference will be given to local candidates
  • Critical Replacement:
  • Role: To perform regulatory reporting and reconciliations for Withholding Tax and transactional taxes and do timely compliances as a part of APAC Tax Operations team.
  • Risk: With the resource not on boarded on time there is a financial, regulatory and reputational risk to Bank. This position is critical for timely Withholding Tax reconciliations, payments and reporting to Australian Tax Authorities for the new GTB Cash Management business offered to Australian Clients. If not filled, then, there will be delays in adhering to the regulatory reporting timeline which could result in regulatory actions, penalties against Bank. This can be avoided with the timely and appropriate resourcing for this position.
  • Background (total need and tasks): This is a APAC role is for supporting Withholding Taxes regulatory reconciliations, payments and reporting for Withholding Tax compliances. This includes coordination with operational reference data system (ORDS), sub-ledger, compliance and local operations team in respective countries.
  • Metrics on key volumes: Exact Volume details are not available yet since this new business offering.
  • Regulatory background:

In Australia, there are two main taxes that are applicable to the GTB branch rollout:

  • Good and Services Tax (GST) – is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. Current external legal advice is that this will not be applicable to any of the fees associated with the current scope of products.
  • Withholding tax (WHT) - If you are a foreign resident, tax is generally withheld in Australia from interest, unfranked dividends and royalties you earn in Australia. It will be applicable to interest that we pay to clients on Deposits or Current Accounts.  It is not applicable to payments being made on behalf of our client.

There are 6 reports/payments prepared for the Australian Tax office (ATO):

  • Annual Investments Income Report (AIIR) Specifications (Interest and WHT)
  • Quarterly Tax file number and Australian business number report
  • Monthly Goods and Services Tax (GST) submission (BAS)
  • Annual Income tax return:
  • Interest exempts from Withholding Tax (WHT) information
  • Weekly Withholding Tax remittance
  • Client impact

Annual Payment Summary (WHT)

If reporting not completed on time, or reporting is completed with undue errors/ issues, there could be undue errors on the payment summaries issued to the clients which they will in turn be using for their tax filing. In such cases tax authorities will reach out to client with the provided information which will increase the Financial, Regulatory & Reputational risk for the client and Bank via unwarranted queries from tax authorities. This can be avoided with the timely and appropriate resourcing for this position.