Hong KongOverview Of BNY Mellon : BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets.
BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-
focused team.Job Purpose : The Tax & Regulatory team focuses on Tax & Regulatory Research, Tax Strategy, Development & Enhancement of Tax Services, Tax Risk Management, Market Presence, Client Facing Tax Support and Leveraging Tax Expertise across BNY Mellon s Investment Services globally.
The key component for this particular role is taxation within Asset Servicing with a strong background in tax technical research.
The role will also involve researching regulatory initiatives that have an impact on asset servicing. Responsibilities : This position will report to the Global Head of Tax Research Group (part of Tax & Regulatory) in BNY Mellon's Asset Servicing division.
The candidate will take a lead role in regulatory and tax research strategy and tax monitoring of all markets in the global custody network that supports our Asset Servicing business.
The candidate will work closely with our Tax & Regulatory Team and all tax experts in the organisation, including Corporate Tax and our Tax Operations area.
Specific responsibilities include : Analysis of impact to the business and to clients where there are any market Withholding Tax / Securities Taxation change (coverage of over 90+ investment markets).
Review and analysis of tax services to ensure BNYM complies with relevant local tax requirements.Work closely with the Tax Operations functions to fully communicate any changes which impact the day-
to-day servicing of clients from a tax perspective. Coordination with Corporate Tax as and when appropriate.Ensure market change is communicated in a concise, factual manner both internally / externally.
Preparation of analysis to support discussions / meetings with tax authorities / governments as necessary to advocate workable solutions to tax relief models.
Respond to tax technical queries, supporting Tax Operations functions and clients, working with client relationship managers where necessary.
Research, preparation of analysis and communication of key regulatory initiatives impacting investment services.Deliver ad hoc training where necessary.
Close collaboration / communication with BNY Mellon’s sub-custodian network and Global Network Management team.Contribute and work with Tax Policy and any Tax Steering groups as and when required.
Participate in meetings with clients to review tax changes and where necessary work closely with the clients dedicated tax service provider / tax advisor.
Create customized client tax matrix reports on an ad-hoc basisParticipate in relevant tax industry working groups meetings as necessary.
May advise organizational units / teams to on tax and cost basis related items. Ensure timely delivery of technology solutions or inquires as it relates to tax legislation.
Provides direction to lower-level Global Tax Management support and specialist roles in the successful delivery of departmental functionality.
Leads efforts regarding new projects, regulations and business opportunities from a Global Tax Management perspective.Answers complex inquiries, resolves problems, supports products / services, and / or analyzes and updates information.
Assesses needs and suggests / promotes / develops solutions.Integrates in-depth area knowledge with a solid understanding of industry tax and cost basis standards and practices to provide client solutions.
Handles situations which may require adaptation of response or extensive research according to client response. Participate in the review of new legislations and firm initiatives.
Provides high level technical assistance and support to lower level specialist and support processing roles.Serve as an SME for the firm as it relates to all aspects of Global Tax Management.
Contributes to the achievement of team objectivesRequirements : Extensive tax and regulatory experience (at least five years) in the Investment Services or Asset Management business, Professional Services Firms or Law Firm.
Possess a high level understanding of the APAC and EMEA tax markets and their impact on non-resident funds (for example, investment, sovereign and pension funds).
Custody Tax : Withholding Tax practices on securities (domestic and foreign withholding taxes, tax treaties, financial transaction / securities taxation, taxation of investment funds).
European Court of Justice tax cases impacting securities (e.g. Fokus Bank case)Capital Gains tax treatment of securitiesStrong analytical skills and innovative thinker.
First class presentation skills, both oral and written.Ability to work and communicate with all levels of staff.Ability to work both independently and as part of a team.
Proven ability to use electronic tax research engines.Team player able to work across multiple lines of business with excellent communication skills, both written and oral.
Fluency in Asian language capabilities preferable.QualificationsBachelor s degree or the equivalent combination of education and experience is required.
Applicable FINRA licenses preferred (e.g., Series 99 & 7) 5-7 years of related experience preferred; experience in the securities or financial services industry is preferredBNY Mellon is an Equal Employment Opportunity Employer.
Primary Location : Hong Kong-Hong Kong-Hong KongJob : Asset ServicingInternal Jobcode : 09375Organization : AS Product Capabilities-
HR12791Requisition Number : 1906635