Tax Utility Operations - Associate
Morgan Stanley
Hong Kong, Hong Kong, Hong Kong


Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.

The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 747 offices in 42 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic.

Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow.

A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-

solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Team Profile

The profile of Operational Taxes has seen an exponential increase in recent years as governments globally react to the current financial crisis and look for ways to grow revenues.

The increase in tax activity around the globe requires Operations to implement new processes to support these taxes.

This is an exciting opportunity for someone who would like to make a direct contribution in managing operational tax risk within the Firm.

This role is unique in the Industry, and sets the standard for how the Industry will manage operational tax risk in the future.

Located within the International Tax Utility (ITU), this multi-faceted Tax Risk & Advisory role provides exposure to all parts of the business including Cash Equities, Fixed Income, Derivatives, Wealth Management, Prime Brokerage and Commodities.

The candidate will need to be highly skilled in influencing and making an impact as the role requires interaction with different teams across Operations, Business Units and Corporate Tax.

At a macro level, the role requires the candidate to review existing operational tax processes, analyse the operational tax impact of tax changes and new business proposals and be able to influence the implementation of change, in a fast paced environment.

Primary Responsibilities

  • Have a good understanding of transactional and / or withholding tax issues including identifying tax issues as they impact processes and the ability to read, understand and relay tax regulations
  • Develop an understanding of current working practices of tax processes across the Operations infrastructure.
  • Lead detailed analysis with various Operations counterparts and Business Units to formulate and consolidate operational tax requirements in order to have robust and controlled tax processes.
  • Create operational tax processes, policies and procedures for Operations to correctly set up systems to ensure tax compliance in regards to taxes such as Stamp Taxes, Withholding Taxes and Capital Gains Tax.
  • Review new product / business proposals to ensure appropriate operational tax compliance.
  • Monitor and review tax policy changes that affect current processing and communicate the operational tax implications to key stakeholders.
  • Effectively communicate with colleagues in Corporate Tax, Technology, business units and the rest of Operations to manage inquiries and issue resolution.
  • To act as a risk manager through ongoing awareness of the tax regulatory environment and the firm?s adherence to its tax reporting obligations.
  • Ensure proper documentation of process flows and advocate for automation and scalability.
  • Develop team?s ability to remediate anomalies in tax processes and develop control improvements.
  • Working closely with the counterparts in the global teams to develop an operational tax framework for the firm and roll out global initiatives in the Asia region.
  • Skills Required :

  • Bachelor degree and at least 5 years relevant work experience in Operations, Banking or Finance related field
  • Business knowledge of the banking sector and ideally experience of working in an Operational Taxes environment
  • Good knowledge of Stamp Duty, Transaction Taxes, Withholding Tax or Capital Gains Tax regimes and how they impact operational processing and infrastructure
  • Motivated, self-driven and excited by an operational role with changing priorities and objectives
  • Be able to produce work of high and consistent quality, often with tight deadlines.
  • Ability to problem solve with a good attention to detail
  • Strong team player, willing to put forward ideas and challenge current practice.
  • Excellent verbal and written communication skills with ability to influence stakeholders
  • Analytical thinker with the ability to generate innovative ideas and translate strategy to execution
  • Operational mindset focusing on improving operational processes and risk management
  • Prior tax operations related work experience an asset but not a prerequisite
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