Standard Chartered Hiring for Head at Mumbai, Maharashtra, India Full Time

Job Description

Job: Finance
Primary Location: Asia-India-Mumbai
Schedule: Full-time
Employee Status: Fixed Term
Posting Date: 27/Jun/2022, 1:01:01 PM
Unposting Date: Ongoing

The Role Responsibilities
Strategy

• The job holder needs to contribute to the Group Tax Compliance and Strategy.
• Lobbying and representing SCB Group at the highest levels with external stakeholders – revenue authorities, Indian Bank Association (IBA), FICCI, CII etc.

Business

• To be a Relationship Manager for GST for SCB Group.
• Managing the Indirect tax namely Service Tax, VAT (Legacy Issues) for the bank and Group Companies.
• Manage the MVAT audit and ensure smooth completion of compliance for statutory returns relating to MVAT.
• Monitoring GST impact on group cost allocations for SCB Group
• Projects – Subsidiarisation, Gift City
• Evaluating TP policies and monitoring group cost allocations – Impact assessment from GST perspective
• Awareness and understanding of the wider business, economic and market environment in which SCB India operates

Processes SCB & Group Companies

• Set controls and procedures for all operational taxes -including Goods & service tax to ensure regulatory requirements are met and no penalties for non-compliance and co-ordinate the preparation and filing of the operational Indirect tax returns before due date.
• Conduct periodic health checks to review controls and procedures for operational taxes, GST to ensure that there are no operational weakness.
• Handle the Revenue audits for the Bank and Group companies in respect of all Indirect taxes – GST and ensure compliance by providing proactive support by advising impact of all clarifications, circulars, amendments on GST for SCB & Group companies.
• Handle the MVAT audit and prepare and file tax returns within statutory timelines.
• Handle sales tax assessments for the Bank, legacy issues of service tax & VAT Business audits for the Bank.
• Ensuring GST cost saves and contributing to the P & L with strategies within contours of GST laws.

R2P Team & Tax COE team

• Manage the relationship with R2P to provide proactive support and ensure that operational taxes are managed efficiently.
• Ensure compliance on maintenance of CENVAT credit registers in respect of GST

Others

• Attend enquiries and summons from GST revenue authorities for all indirect taxes.
• Advice businesses and functions of all GST implications of new products.
• Take charge of any projects allocates by Head Taxation and report progress on a regular basis.
• Advise relevant stakeholders of the impact of all the clarifications, circulars, notifications, amendments issued on GST impacting the companies / units for which responsibility is held.
• Managing relationship with local tax advisors, GST consultant, Clear Tax (ASP/GSP) and Revenue Authorities.
• The job holder must ensure he/ she is fully aware of all the policies and procedures issued in relation to money laundering prevention. He/she must ensure compliance with these policies and procedures on an ongoing basis. Any suspicious transaction must immediately be reported to the supervising officer. To ensure adherence on an ongoing basis to all requirements of KYC / ML as may be issued from time to time and adherence would be measured with respect to outcome of audits, Group audits and Quality Assurance Reviews conducted.
• Upholding the values of the Group and company at all times.
• Compliance with all applicable Rules / Regulations and company and Group policies.
• Ensure Banks compliance obligations (Statutory/ Group / Local Authorities including submission of returns) are met.
• Ensure KCD checks are carried out on a regular basis, shortfalls are highlighted for rectification and proper documents/ records are kept evidencing such checks.
• Ensure a high satisfactory rating in all Group/ External/QA/ Service quality checking.
• Ensure that staff is fully conversant with the compliance requirements

Governance

• Awareness and understanding of the regulatory framework in which the Group/Country operates, and the regulatory requirements and expectations relevant to the role

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead to achieve the outcomes set out in the Bank’s Conduct Principles
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association

Key Stakeholders Internal

• CFO India
• Head Taxation
• Head Financial Control
• Senior Managers / Managers in Finance & Business
• Managing Director/ Financial Controller / CMT Members for all subsidiaries

External

• External Tax Counsel & Tax Consultants
• Auditors
• Revenue Authorities
• Tax Managers of Peer Banks.
• CII, FICCI, Indian Bank Association etc

JUDGEMENT/ COMPLEXITY

• Foreseeing the likely problems in the course of assessments / appeals and taking effective remedial actions.
• Planning and devising an effective strategy to conduct tax appeals to ensure desired results.
• Keeping abreast with latest developments in tax laws and tax administration to secure maximum benefits in pending proceedings.

Our Ideal Candidate

• Qualified Chartered Accountant with post qualification experience in handling indirect tax accounting and advisory services
• A good knowledge of GST laws enabling the candidate to provide guidance and tax advice on GST matters to stakeholder
• An in-depth knowledge of local tax laws and practice in the field of all Indirect taxes.
• Ability to work in an organised way, multi-tasking, prioritising, managing tasks and provide solution
• Strong communication and interpersonal skills,
• High levels of drive and resilience along with attention to detail

KNOW-HOW & EXPERIENCE

• An in-depth knowledge of local tax laws and practice in the field of all Indirect taxes.
• Able to provide guidance and instruct others on Indirect tax matters.
• Knowledge of other jurisdictions / tax codes.
• Experience in dealing with Revenue Officials and Appellate Authorities at different levels to ensure smooth liaison with the Revenue Department on the strength of excellent communication and interpersonal skills.
• Lobbying with Revenue officials at the highest level through IBA, FICCI, CII etc

About Standard Chartered
We’re an international bank, nimble enough to act, big enough for impact. For more than 160 years, we’ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you’re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can’t wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you’ll see how we value difference and advocate inclusion. Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
• Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with with minimum global standards for annual and public holiday, which is combined to 30 days minimum
• Flexible working options based around home and office locations, with flexible working patterns
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.

Recruitment assessments – some of our roles use assessments to help us understand how suitable you are for the role you’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website www.sc.com/careers