ITO - New Business Lead - AVP
3261631
Glasgow
In the Operations division, we partner with business units across the Firm to support financial transactions, devise and implement effective controls and develop client relationships. This is an Director level position level position within the Core Services function.
Team Profile
As a key team in Operational Regulatory Risk Control Division (ORRC), International Tax Operations partners with Morgan Stanley Corporate Tax, front-to-back business and Operations teams to meet all current obligations and partner with Technology to implement solutions to support new tax regimes and demands.
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International Tax Operations (ITO) helps senior management and its business units across the Firm manage Tax risk by owning and driving forward the Operational Tax control framework and handling associated tax processing responsibilities:
- Creating, maintaining, and enhancing the internal operating processes: ITO is crucial to safeguarding the Firm's franchise, proactively identifying, and reporting on all in scope Tax risks.
- Streamlining, automating, and enhancing the operational tax environment within Morgan Stanley, specifically focusing on international operational taxes.
- Partnering with Corporate Tax to set and communicate best practices with regards to controlling and mitigating operational tax risk and performs a number of control / operational functions over a variety of withholding and transactional taxes generated by trading activities across multiple divisions including Institutional Securities and International Wealth Management.
The multi-faceted and dynamic role requires the candidate to lead a team to understand and analyse the operational tax impacts of tax regulatory changes and new business proposals. The individual will be required to influence the implementation of these changes to meet regulatory requirements. The team review existing and new or proposed operational tax processes in line with the target operating model .
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 setting the standard for how the Firm manages operational tax risk.
What you'll do in the role:
- Manage a team to review changes in legislation that could impact the Firm's Institutional Securities Group (ISG) businesses in all jurisdictions outside of the United States of America.
- The team will also be responsible for the review New Products that the Firm wish to offer to clients to ensure that these can be supported effectively.
- Work with the Corporate Tax Department and external tax advisors to interpret the legislation, provide steer on operational implementation and partner with various Operations teams and Business areas on actual implementation
- Manage the creation and documentation of operational tax requirements, processes, policies, and procedures for Operations to correctly set up systems to ensure tax compliance.
- Contribute towards the design of the team's overall strategy and transformation agenda.
- Attend and represent MS at industry forums where legislation and practical difficulties are being discussed
- Work effectively across geographical and functional boundaries demonstrating strong relationship skills.
What you'll bring to the role:
- Prior experience in a Regulatory focused, Tax Operations or Tax Advisory role, with solid understanding of one or more business areas, e.g. Equities, Fixed Income, Retail investments gained within the Banking industry.
- Have a good technical understanding of operational tax issues (transactional, withholding tax and capital gains tax) and their implications to an international financial institution, including identifying tax impacts as they impact processes and the ability to analyse, understand and communicate tax regulations to internal and external stakeholders
- Provide cross Operational and Business Unit tax support regarding operational taxes hence knowledge of the banking sector and ideally experience of working in an operational taxes environment or supporting operational taxes from a tax technical perspective
- Proven track record of building and managing teams, possess strong team working skills, willing to put forward ideas, coach colleagues and challenge current practice
- Ability to navigate through multiple business areas, markets, and infrastructures. Appreciate how complex tax rules are then simplified to create processes and feed into multiple IT infrastructures to eventually receive outputs that drive tax filings.
- 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
- The ability to be analytical, problem solve with a good attention to detail with a record of identifying and dealing with issues as they arise
What you can expect from Morgan Stanley:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries.
At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. Our Firm is differentiated by the caliber of our diverse team, while our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity
We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry.
Equal opportunities statement:
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.
Flexible work statement
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.