Associate, UK Taxation, Europe & Asia Pacific
Associate, UK Taxation, Europe & Asia Pacific
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Job Description
Were building a relationship-oriented bank for the modern world. We need talented passionate professionals who are dedicated to doing whats right for our clients.
At CIBC we embrace your strengths and your ambitions so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC please visit
BUSINESS UNIT DESCRIPTION
CIBC is a leading Canadian-based financial institution with over 43000 employees worldwide and annual revenue in excess of $12 billion per year. Within CIBC the Wholesale Banking arm provides a wide range of credit capital markets investment banking and research products and services to government institutional corporate and retail clients in Canada and in key markets around the world. Our 2500 employees work in highly disciplined cross-functional teams to leverage industry knowledge and deliver innovative capital solutions and advisory expertise across a wide range of sectors.
The Taxation Group is responsible for providing tax advisory and planning services in support of transactions products and strategic business initiatives and tax compliance services for the CIBC group of companies Taxation as part of Taxation Group provides advisory services to internal clients within CIBC with respect to taxation issues affecting the Bank its products employees and clients.
UK taxation provides first point of contact and faces the UK tax authorities (HMRC) and is responsible for select tax compliance matters for the Bank.
JOB PURPOSE
To protect the CIBC group its shareholders officers directors and employees as well as its clients by providing taxation advice and regulatory guidance to support the development of plans strategies policies practices and procedures as appropriate or necessary while reducing the risk costs and penalties both tangible and intangible of non-compliance with the tax laws and regulations impacting our many businesses.
JOB PURPOSE (continued.)
Effectively assist the ED to manage corporate tax and related issues for CIBC with specific focus on Tax Compliance matters across Europe and Asia Pacific.
Assist with advising and supporting the wholesale capital markets business on live multi branch business opportunities (UK Canada US Europe and Asia Pacific) and controlling tax risk via trading documentation including ISDAs GMSLAs GMRAs.
Assist on cross border lending projects including transactions initiated outside CIBC UK e.g. Canada and US and inbound to Europe and Asia Pacific.
KEY ACCOUNTABILITIES
- Preparation of the London Branch corporation tax computation and return
- Calculation and management of quarterly instalment payments
- Monitoring of Effective Tax Rates across Europe and Asia Pacific
- Review of UK VAT returns prepared by the Alteryx system and submission via external provider
- Calculations and payment of any UK Bank Levy liability
- Preparation of UK regulatory returns e.g. BBSI returns Corporate Interest restriction AEOI etc
- Preparation and collation of Transfer pricing documents and requirements across Europe and Asia Pacific
- Assist with the oversight of Compliance matters in Europe and Asia Pacific
- Ad hoc assistance with advisory and lending projects
- Implement the development of effective tax strategies ensuring compliance with applicable tax regulations.
- Ensure that roles responsibilities and accountabilities as regards taxation matters are defined and understood with revisions as and when appropriate to reflect changes in the needs of the businesses regulators and legislation.
- Maximize effectiveness of tax knowledge transfer by encouraging tax awareness and compliance culture amongst client business groups. Selectively channeling effort to groups with the greatest and most pressing
- Help to shape and influence business strategies and strategic planning with a view to managing tax risk.
- Assist with providing the necessary guidance to business units in order to ensure that business plans are both formulated and implemented in a manner consistent with the relevant local taxation legal and regulatory regimes and the Banks own internal policies.
- To interact with taxation authorities or regulatory agencies as required e.g. assist with managing the continual UK tax audit cycle.
- Help to identify assess and analyse the tax implications of a strategic initiative or transaction develop a comprehensive plan manage key areas of tax risk and opportunity and provide recommendations to business partners.
- Assist with the implementation and maintenance of tax proposals or tax aspects of a transaction including serving as a team member on multifunctional projects interpretation and resolution of tax issues reviewing transaction documents and monitoring and ensuring ongoing compliance with tax guidelines.
CROSS-FUNCTIONAL RELATIONSHIPS
Support the wholesale bank; Capital Markets Corporate Banking & Investment Banking as required primarily through assisting the ED and the Head of Tax Europe and Asia Pacific. This will involve collaboration with other functions such as Legal and Client onboarding.
JOB DIMENSIONS
Number of Direct and Indirect Reports: None
Total FTE of Client Groups:
Lines of Business Supported: Wholesale Capital Markets Corporate Banking Investment Banking
Geographies Covered: Europe North America Asia Pacific
KNOWLEDGE AND SKILLS
- UK CA and/or CTA with 3 years or more years of tax experience or legally qualified with prior experience in accounting finance or related field.
- Sound technical taxation and corporate planning knowledge and sound commercial sense.
- Strong technical knowledge of UK tax laws and regulations preferably with Financial services experience
- Experience in providing basic tax advisory services
- Results-oriented self-motivated proactive and proven ability to work independently.
- Focused thorough and disciplined in approach.
- Decisive confident and comfortable working closely with and collaborating with business partners.
- Excellent communication skills; able to translate technical guidance into business terms and implications.
- Advanced problem solving skills leading to practical solutions on a broad range of matters.
- Strong initiative and ability to suggest and deliver comprehensive enhancements in work processes.
- Well-developed organization and prioritization skills in order to handle multiple tasks (prioritizing daily work with various project work and demands of client base) within an extremely dynamic environment.
- Strong interpersonal communication and influencing skills to develop and maintain productive working relationships on very complex issues with the staff and management of Front Office Risk Management Technology Legal and Finance.
WORKING CONDITIONS
- This role operates under a hybrid model within a normal office environment with little exposure to adverse working conditions and working from home.
What you need to know
- CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation please contact
- You need to be legally eligible to work at the location(s) specified above and where applicable must have a valid work or study permit
Job Location
150 Cheapside London UKEmployment Type
RegularWeekly Hours
35Skills
Accounting Accounting Advisory Services Analytical Thinking Business Business Banking Business Initiatives Business Opportunities Business Strategies Business Taxes Business Units Capital Markets Client Service Collaborating Collaboration Communication Corporate Tax Credit Customer Experience (CX) Decision Making Finance Industry Knowledge Interpersonal Communication Investment Banking Legal Practices 27 moreRequired Experience:
IC
Employment Type
Full-Time
