Job Description
At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.
Recognized as a top destination for innovators and champions of inclusion, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.
We’re seeking a future team member for the role of Vice President, Global Tax Technical Research, to join our Asset Servicing team. This role will be located in Manchester.
Role
The Client Tax Group focuses on tax strategy, development and enhancement of tax services, tax risk management, market presence, client facing tax support and leveraging tax expertise across BNY globally. The key component for this role is custody tax knowledge with a strong background in tax research. This position will report to the manager of the Global Tax Technical Research and Direct Markets team. The candidate will take a lead role in the tax research strategy and tax monitoring of markets in the global custody network. The candidate will work closely with our Client Enterprise team (product managers) and other tax experts in the organization, including Corporate Tax and Tax Operations.
In this role, you’ll make an impact in the following ways:
Monitors and analyses tax laws, rates, and compliance obligations resulting from global withholding tax, financial transaction taxes, and capital gains taxes, or procedural change in markets, ensuring that these are incorporated in the custody framework timely.
Review and analysis of tax services to ensure BNY complies with relevant local tax requirements.
Provide tax technical support to Asset Servicing and clients, focusing on global initiatives aimed at tackling tax evasion and tax avoidance (e.g. Common Reporting Standard (CRS) and DAC6).
Informs BNY’s operational delivery teams of any withholding tax changes and works with the business to implement processes arising from tax change. Coordination with Corporate Tax as and when appropriate.
Close collaboration/communication with BNY’s sub-custodian network and Network Management teams.
Ensure market change is communicated in a concise, factual manner both internally/externally (drafting of client communications, memos).
Participate in client meetings to deliver insights and review tax changes as required.
Preparation of analysis to support discussions/meetings with tax authorities/governments as necessary to advocate workable solutions to tax relief models.
Participate in relevant tax industry working groups meetings as necessary.
Research, preparation of analysis and communication of key regulatory initiatives impacting investment services.
Deliver training where necessary.
Qualifications
Extensive tax experience in investment services (domestic and foreign withholding taxes, systems of global exchange of tax related information (FATCA, CRS, DAC6), financial transaction taxes, taxation of investment funds) obtained through experience gained at a custody bank, financial service provider, investment fund company or professional services 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 securities.
Recognized as a top destination for innovators and champions of inclusion, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.
We’re seeking a future team member for the role of Vice President, Global Tax Technical Research, to join our Asset Servicing team. This role will be located in Manchester.
Role
The Client Tax Group focuses on tax strategy, development and enhancement of tax services, tax risk management, market presence, client facing tax support and leveraging tax expertise across BNY globally. The key component for this role is custody tax knowledge with a strong background in tax research. This position will report to the manager of the Global Tax Technical Research and Direct Markets team. The candidate will take a lead role in the tax research strategy and tax monitoring of markets in the global custody network. The candidate will work closely with our Client Enterprise team (product managers) and other tax experts in the organization, including Corporate Tax and Tax Operations.
In this role, you’ll make an impact in the following ways:
Monitors and analyses tax laws, rates, and compliance obligations resulting from global withholding tax, financial transaction taxes, and capital gains taxes, or procedural change in markets, ensuring that these are incorporated in the custody framework timely.
Review and analysis of tax services to ensure BNY complies with relevant local tax requirements.
Provide tax technical support to Asset Servicing and clients, focusing on global initiatives aimed at tackling tax evasion and tax avoidance (e.g. Common Reporting Standard (CRS) and DAC6).
Informs BNY’s operational delivery teams of any withholding tax changes and works with the business to implement processes arising from tax change. Coordination with Corporate Tax as and when appropriate.
Close collaboration/communication with BNY’s sub-custodian network and Network Management teams.
Ensure market change is communicated in a concise, factual manner both internally/externally (drafting of client communications, memos).
Participate in client meetings to deliver insights and review tax changes as required.
Preparation of analysis to support discussions/meetings with tax authorities/governments as necessary to advocate workable solutions to tax relief models.
Participate in relevant tax industry working groups meetings as necessary.
Research, preparation of analysis and communication of key regulatory initiatives impacting investment services.
Deliver training where necessary.
Qualifications
Extensive tax experience in investment services (domestic and foreign withholding taxes, systems of global exchange of tax related information (FATCA, CRS, DAC6), financial transaction taxes, taxation of investment funds) obtained through experience gained at a custody bank, financial service provider, investment fund company or professional services 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 securities.
💡 Quick Summary
Seeking a career-building opportunity? The Tax Vice-President – Tax Research position is now open for candidates interested in the Bank Jobs sector. This role in Manchester offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
