Policyholder Tax Reporting Technical Specialist

  • Post Date: September 15, 2022
  • Isle of Man
Job Description

Role Responsibilities:
– Supporting the team with analysis and preparation work ahead of annual CRS & FATCA reporting
– Regular reviews of the department procedures to ensure they remain fit for purpose and in line with any changes in legislation/ regulation
– Maintaining a good working knowledge of Group AEOI requirements
– Assisting with the ongoing monitoring of global regulatory updates that may impact policy holder tax reporting (including but not limited to Hong Kong, Isle of Man, UK, Malaysia, Singapore, UAE)
– Answering AEOI queries from other departments, brokers, WRAP partners and/ or customers
– Working closely with the Policyholder Tax Reporting Team Manager to meet all Group AEOI regulatory requirements, this may include training other departments (including our international branches and offices), organising mass mailings and reviewing client data on a large scale
– Assisting with communications and requests from competent authorities/ regulators globally and locally
– Supporting the team with staff training globally to all levels of the business, providing guidance, ensuring awareness, compliance and understanding of AEOI
– Supporting the team with production and Issue of Chargeable events certificates
– Answering chargeable event queries from other departments, brokers, WRAP partners and/ or customers
– Providing good and timely responses from department mailboxes
– Working with projects and IT to ensure that the correct functions are in place to deal with annual AEOI and Chargeable Events reporting
– Working collaboratively with various departments throughout the group to develop and maintain global reporting procedures and software
– Support Group Marketing with regulatory requirements within group literature
– Support the team with assessment, modification and implementation of internal processes and procedures to ensure regulatory compliance with IRS, OECD, Isle of Man and other multi-jurisdictional legislative requirements

Skills and Experience Required:
– A minimum of three years Life Industry experience (or similar experience in other sectors of financial services)
– A good understanding of UK Chargeable Event rules, CRS and US FATCA regulations
– Awareness of UK and International tax rules and regulations would be advantageous
– Previous experience interpreting and implementing legislation and regulation
– A proven track record of researching AEOI related regulations
– A sound understanding of end to end AEOI operations in at least 1 jurisdiction.
– Good understanding of the Offshore Life Industry & types of financial products
– Good analytical skills
– The ability to work independently and be self-motivated
– Hold or be willing to work towards a relevant professional qualification