Financial and Regulatory Reporting Specialist

Role Description

Tax Operations is part of the Finance division, and the person would lead Tax compliance of DB group in India. This role has complete responsibility to ensure timely & accurate tax compliances under direct & indirect taxations, tax & transfer-pricing audits, GST audit and head-office tax reporting process. The primary function of the role is to ensure accurate and timely local and global tax reporting & compliances, manage associated risks & handling internal & external stakeholder. The role also includes explaining any financial calculation to tax authorities with regards to Corporate and GST tax returns as well as explaining and providing responses to tax authorities.

Your key responsibilities

Role includes leading a team of tax reporting specialists to carry entire gamut of tax compliances. The list below is illustrative.

Team Management, Leadership & Stakeholder Management:

• Manage overall governance of tax compliance and have a complete and thorough understanding of the control environment, identifying gaps and executing remediation plans to mitigate such gaps
• Ensuring all tax filings are duly validated for accurate & timely submissions
• Identifying change opportunities and drive innovations along with change specialist teams to implement process changes to enhance efficiency
• Managing and developing team, create back up and resiliency, ensuring its optimal utilization, knowledge management through regular updates of SOPs and attrition risk management
• Managing the day-to-day relationship with all internal & external stakeholders to ensure efficient working partnership and build up a collaborative model
• Lead, participate and execute Finance India strategic initiatives with respect to Tax Compliance.

Local & Head office Tax Reporting:

• Review of various reports required for tax reporting (tax / ETR workings, current & deferred tax provisions for local GAAP and Group GAAP)
• Liaising with statutory auditors on tax matters and finalizing tax disclosures in Financial Statements
• Maintain and review workings for Contingent Liability, back up of refunds etc.
• Balance-sheet substantiation of Tax related assets and liabilities
• Managing various MIS required for review of tax compliance / variances in tax reporting.

Advance tax compliance:

• Ensure computations are based on relevant inputs related to PnL / BS from Finance and other relevant teams
• Ensure required review is conducted by Group Tax and others before tax payments

Tax audit:

• Planning tax audit of DB entities and ensuring timely closure & appropriate coordination with Tax auditors
• Ensure timely and accurate compilation of tax audit report in Form 3CD.

Transfer Pricing & Country by Country Reporting (CbyC):

• Planning transfer pricing audit of DB entities, finalizing appointment of auditors, ensuring timely closure and appropriate coordination with auditors
• Ensure timely and accurate compilation of transfer pricing audit report in Form 3CEB, Master File and CbCR intimations.

Return of Income (ROI):

• Review of computation of tax returns
• Liaising with Group Tax and other relevant functions for review and submissions of returns
• Ensure timely & accurate filings

Assessments / appeals / enquiries by IRAs (Income-tax, TP, Service Tax / GST):

• Ability to understand and guide the team regarding information required, as intimated by relevant authorities.
• Prepare / review the draft submissions
• Liaising with Group Tax / Finance and other relevant functions for review of the submissions and facilitate closure.

GST: The responsibilities in this connection will include:

• Ensuring that all GST compliances are timely & accurate, and submissions validated of multiple State registrations
• Reviewing GST monthly and annual returns & leading GST audit. Liaising with auditors, Group Tax and tax consultants for GST compliances.
• Facilitation of Registering new/ additional services with the GST authorities
• Collating details from all concerned, calculating monthly GST liability at entity level & liaising with Group Tax and others as required for review. Ensuring timely GST payments.
• Preparing refund claims, wherever applicable. Liaising with Group Tax and tax consultants for review of refund claims and reviewing files / set for filing the required documents with the revenue authorities.
• Appearance before tax authorities as and when required
• Computing GST liability on FCY inter-entity expenses on a monthly basis,
• Preparing first cut appeals, getting the details reviewed from Group Tax and other relevant functions.

Your skills and experience

Experience / Exposure

The candidate must be a motivated and high performing individual. He/she must be able to handle all levels of complexity in the functional area under control, be able to shift focus of task with relative ease and be flexible enough in shifting workload in accordance with changing priorities and be comfortable dealing with a sometimes stressful and fast-paced dynamic tax environment.

• 15+ years working experience of leading a tax compliance team (preferably in Taxation teams of banks, investment banks or professional accounting / audit firms or in a similar capacity in a BPO / KPO centre).
• Thorough knowledge on Direct and Indirect Taxation compliance requirements
• Specific knowledge on Income Tax computation for Banks, NBFC business, GST / Service Tax regulations. Knowledge of STP regulations is preferable.
• Experience in managing and collating information for Tax Audit, Transfer Pricing Audit
• Experience in financial accounting & reporting, financial statements and legal entity control function is preferred
• Experience in dealing with taxation matter on merger and amalgamation is preferred
• Experience of managing the change related to function

Soft Skills

Communication

• Ability to communicate effectively (oral & written) with senior stakeholders including Board of Directors, tax authorities and auditors
• Focused on providing quality output and speed of delivery

Leadership & Analytical abilities

• Ability to lead a team of tax specialists
• Displays a high degree of control awareness with focus on Validations & Controls
• Has a natural intellectual curiosity
• Strong analytical / business problem-solving skills including knowledge of automation tools

Time management skills

• Well organized & able to logically present results of work
• Ability to work under pressure and to deadlines
• Ability to manage own time and time of team

Drive and Motivation

• Passion for change and confidence in own abilities
• Be comfortable & willing to drive process improvement and motivate the team
• Diligent, thorough, shows initiative and is proactive

Personal Qualities:Proactive, attention to detail / quality of work, able to cope with pressure and deal effectively with demanding clients. Ability to challenge status quo.

Education / Certification

• Qualified Accountant Chartered Accountant