Old Mutual Limited
The role will comprise the following key focus areas:
• Tax leadership in Old Mutual, Faulu and UAP OM Group which include territories such as Kenya, Uganda, Tanzania, South Sudan and Rwanda;
• Tax Reporting & Accounting;
• Tax Compliance;
• Tax Governance, Risk management and oversight; and
• Develop, document and implement tax planning and tax risk management strategies within the group including the preparation of key documents on certain tax positions for board approval and adoption
• Provide tax and related guidance to senior management on tax related strategic issues
• Ensure that all regulatory returns for the EA are prepared, submitted and reviewed timeously.
• Ensure that tax reporting within the EA region are identified, well understood and timeously delivered.
• Provide expert knowledge and support to ensure that the EA region efficiently integrates tax into business processes, decision making & reporting.
• Responsible for ensuring compliance with legislation and the group’s tax strategy while providing a high quality advisory service for complex business transactions to the EA region and RoA central Tax function
• Responsible to ensure that tax risks within the EA region are identified, well understood and managed.
• Ensures EA region tax contribution is communicated in a transparent manner.
• Responsible for accurate, efficient and timely tax input into the wider EA, RoA and OML Group Finance Reporting team for financial reporting purposes, to ensure that the EA region meets its tax reporting requirements in line with tax transparency practices, adequate disclosure and reporting to relevant stakeholders.
• Responsible for interrogating the tax numbers out of the financial reporting systems, managing, computing, collating and consolidating the tax reporting requirements (including detailed computations and disclosure in the annual financial statements) for the EA region.
• Work with RoA Group Tax on projects including the development and implementation of appropriate transfer pricing policies and Transfer pricing documentation for the EA sub-group.
• Ensure tax operations are functioning in line with tax legislation and that any changes in tax legislation is timely operationalize.
KEY TASKS AND RESPONSIBILITIES
Offering tax leadership on all tax matters in the combined UAP OM Group and subsidiaries notably entities in Kenya, Uganda, Tanzania, South Sudan, Rwanda and scanning on Long term, short term, Banking, Asset management and investment businesses
• Assist countries in the development of policies for execution of operational / compliance / regular tax matters
• Embed changes to tax legislation: Implement processes to identify and communicate legislative and compliance changes, and act as the feedback loop internally and externally (with 3rd party service providers, wider EA team, in country teams, and RoA Tax team)
• Implement processes to identify and mitigate any risks that arise out of the regulatory requirements and constantly interpreting tax and regulator laws to advise on any changes
• Provide a final point of review and sign off for in-country annual tax returns (including provisional tax returns) and tax provisions for financial reporting purposes.
• Preparation of EA Holding company & other tax returns including DWT returns, provisional tax returns etc
• Provide communication and explanation with regards to unusual and complex tax transactions, including resolution of any cases that may be raised by the tax authorities.
• Perform tax due diligence reviews / assessments, monitoring and engaging the business on tax implications of corporate action e.g. mergers and acquisitions
• Provide tax opinions including advice for business strategy and product & services development from a tax perspective, and where appropriate draft ruling applications
• Revenue Authority requests & dispute resolution (including the tracking and requests for waiver of penalties)
• Drive input into group reporting requirements (i.e Audit Committee and internal controls committee etc).
• Tax support and guidance on matters such as tax disputes, significant business transactions, deals, M&A, etc
• Liaison with legal counsel in country & Kenya to obtain external opinion
• Provide mobility & secondment assistance
• Provide input into tax dashboard analytics & trends analysis in respect of EA region, including but not limited to tax contribution by country, ETR, cash tax rate against forecast etc
• Tax Risk Management: controls testing and reporting
• Identification & quantification of risk and issues
• Responsible for ensuring that the tax risk attestation process is completed and submitted to Group Tax timeously
• Management of processes to facilitate tax planning & strategy for EA region
• Ideate, Interrogate/inform and monitor tax planning initiatives, in particular cross border
• Monitor implementation/execution of tax strategy in country and for EA region as a whole
• Tax Technical training, tailored to in country needs
• Tax Transparency report disclosures (including tax contributions split by tax type)
• Monitor regional transfer pricing compliance to group policy and transaction.
Complex business transactions
• Tax support and guidance on matters such as significant business transactions, deals, M&A
• Liaison with legal counsel in country & in Kenya
• Perform tax due diligence reviews and assess outcome
• Manage EA region transfer pricing compliance in accordance with Group transfer pricing policy
Interface with Countries
• Tax Governance and Oversight including conducting tax ‘health checks’ on a cyclical basis to be conducted by self, supported in country by Internal Audit team and/or ‘outsourced’ support according to detailed tax audit work programmes covering risk areas.
• Quarterly reporting on progress to drive outcomes within reasonable timeframes
• Tax Advisory and Dispute Resolution: own recommendations supported by engagement with outsourced service provider in country;
• Responsible for maturing tax functions across the portfolio including training, rolling out of SOPs, standardisation and automation of processes;
• Other necessary engagements to build trusting relationships with EA CFOS and Tax teams
Tax Reporting & Accounting
• Primary responsibility for preparation and review of tax disclosure/tax notes in AFS, board packs, management reports, etc..
• Manage the relationships with and delivery to external and internal auditors
• Analytics & insights on tax: including but not limited to tax contribution, ETR, cash tax rate against forecast etc..
• Interrogation and monitoring of in-country tax provisions
• Consolidation of segmental tax reporting and narration
• Provide active guidance/support to Tax Accountants in country and other teams on tax reporting in general and specifically financial reporting
• Focus and drive tax data quality as credible input into reporting processes and calculations/ratios
• Drive optimisation of processes for timeous tax reporting
• Drive remediation of legacy/prior year reporting issues
• Prepare/review line of business calculations & ETR calculations and disclosures
• Prepare/review deferred tax proof
• Test completeness of tax asset registers
• Track and report tax savings across all tax types
• Provide training in the area of AFS reporting & disclosure, including IFRS updates, deferred tax proof, ETR calculations, etc.
• May be responsible for Ad-hoc Income Tax, PAYE and VAT Reviews on selected companies/countries within the EA region
• The function has direct responsibility for the taxation of the EA sub-group’s transactions, while also supporting the in-country businesses.
• Responsible for ensuring compliance with legislation and the group’s tax strategy while providing a high quality advisory service for complex business transactions to the EA sub-group.
• Ensures that tax risks within the EA sub-group are identified, well understood, reported and resolved timeously.
• Responsible for accurate, efficient and timely tax input into the wider Group Finance Reporting team for financial reporting purposes, to ensure that EA sub-group and RoA Segment meets its tax reporting requirements in line with tax transparency practices, adequate disclosure and reporting to relevant stakeholders.
• Provides expert knowledge and support to businesses, to ensure that the EA sub-group effectively and efficiently integrates tax numbers and transparency into business processes for decision making and reporting
• Strategic input and governance, technical comprehension and relationship building
QUALIFICATIONS, KNOWLEDGE & EXPERIENCE
• Degree – Business Related, CPA (K) 8 yrs Experience on Tax matters in a busy environment
• Financial Services experience, ideally in a listed group would be advantageous.
• Strong communication skills (written and verbal), with experience of dealing with the C-suite
15 December 2021
To apply for this job please visit oldmutual.wd3.myworkdayjobs.com.