Description
Purpose of role
The increasingly global and complex nature of the Bank is resulting in a growing number of transfer pricing arrangements. This role will focus on the day to day management of existing central transfer pricing models and will address outstanding issues with the various transfer pricing models and agreements operated across the Global businesses to avoid regulatory and tax exposure which would pose both financial and reputational risks if not resolved.
As a global business, the Bank has a number of centrally managed control processes. A key part of this role will be supporting the management of the global bonus reconciliation process and the supporting the co-ordination of the legal entity budget/forecasting process, ensuring that it is fully aligned with the Bank's Tax and Capital Management plans,
Core accountabilities
* Ownership of the Global Recharge model for Infrastructure and SI costs, incorporating a 2-tier allocation methodology and ensuring the allocation drivers are clearly aligned to the value being given to the business through close business partnering of Performance & Planning, Financial Control and Tax teams
* Ownership of the PB Recharge model, ensuring the correct global alignment by legal entity of Private Banker costs according to revenue booking
* Co-ordinate and support the identification of Global costs, support review of current recharge methodology applied to them and support the implementation of appropriate allocation methodologies
* Manage the alignment all the Bank's recharge models currently in use across the cluster; ensuring methodologies are consistent and compliant with both UK and local regulatory, tax and VAT rules.
* Ensure that commercial revenue share agreements are appropriately incorporated in the various recharge models and set up in the most tax and VAT efficient way with support from the VAT and tax teams.
* Own and implement the Bank's Transfer Pricing/Recharge Governance structure and ensure that Intercompany recharge disputes are appropriately managed, resolved or escalated where necessary.
* Manage the co-ordination of the Bank's Legal Entity RAF process, co-ordinating with the financial controllers of the Bank's Legal Entities, Finance performance and planning, Tax and Capital Management.
* Manage the co-ordination to the Bank's bonus reconciliation process, co-ordinating with the financial controllers of the Bank's Legal Entities, Finance performance and planning and HR
* Ensure that relevant bonus information is incorporated into the Infrastructure recharge model and ensure that recharges to legal entities accurately reflect the relevant bonus costs
* Understand the various cash, deferral and share related bonus schemes that are operating within the Bank and ensure the related costs are being accounted for correctly.
Key clients (internal and external)
Numerous global internal stakeholders including:
* Legal Entity Financial controllers
* Tax and VAT team
* Transfer Pricing Director
* Global Head of Financial Control
* Central Performance and Planning (income and cost)
* Capital Management team
Role requirements
Professional/technical experience
Strong experience of senior stakeholder management
Previous experience in managing global recharge models
Strong excel/modelling skills
Strong SAP skills
Basic knowledge of Transfer Pricing would be an advantage
Academic and professional qualifications
Strong academic record, preferably to degree level (or equivalent)
Qualified accountant (ACCA/CIMA/ACA/ACMA/CPA or equivalent)
For more details please send CVs.
Aston Carter Ltd is acting as an Employment Business in relation to this vacancy.