Lead: Tax at Old Mutual

Job Description

• Old Mutual Insure Tax provides tax advisory and certain tax compliance services to the entities within the Old Mutual Insure Segment (‘Business’) and is overseen by Old Mutual Group Tax.
• A key part of its delivery includes the review of tax returns and tax reported numbers in the published financial statements including short-term Insurance, cell captive and brokerage entities.
• Old Mutual Insure Tax is a specialist business partner who provides specialist tax knowledge to enable and lead the Old Mutual Insure Group effectively and to efficiently integrate tax into business processes and decisions. We aim to support and lead the Business in communicating our tax contribution in a transparent manner.
• The incumbent will be responsible for various tax provisioning and tax reporting processes as well as certain tax advisory services to Short-term Insurance companies and other subsidiaries in the Old Mutual Insure Group.
• The incumbent will report to the Chief Financial Officer of Old Mutual Insure
• This role will assume responsibility for the following areas of tax reporting and tax compliance related processes, as well as the provision of tax advisory work
• Review the tax reported numbers for the entities in the Old Mutual Insure Group at the required times;
• Review the tax calculations of subsidiaries in the Old Mutual Insure Group;
• Provide advice on new products, and outline the tax reporting requirements for each product;
• Provide advice on share schemes and social responsibility entities;
• Provide advice and guidance on all significant projects and transactions;
• Provide tax advice in relation to Corporate Finance transactions;
• Review tax returns and provisional tax returns for all entities in the Old Mutual Insure Group; and
• Attend to all SARS related correspondence

KEY RESULTS AREAS

TAX MANAGEMENT AND REPORTING

• Assessment of tax process and financial impacts as a result of changes to Tax Legislative Changes or SARS Practice Changes or Business Structural Changes;
• Assist with establishing best practice processes for interim and year end reporting, forecasting and business planning processes for tax reporting in line with Old Mutual Limited Group requirements;

Effective Tax Rate Analysis;

• Review and/or preparation of tax disclosure in Annual Financial Statements;
• Monitoring and assessing Key Controls over Tax Processes; the identification and documentation of Tax Risks;
• Responsible for the review of more complex Tax, VAT or PAYE, DWT, FATCA Statutory Submissions

GOVERNANCE AND COMPLIANCE

• Assist with the implementation of Old Mutual Limited Group Tax Policy and codes of best practice across the Business and across all tax types;
• Ensure that the Business complies with all aspects of tax compliance;
• Ensure that compliance with various RSA Tax Acts are regularly monitored;
• Sound business process and internal systems tax related knowledge;
• Responsible for putting together tax process and compliance guidelines and quality standards and enforcing them throughout the Business;
• Responsible for identifying Operational Tax Risks and providing input into and maintaining Tax Risk Logs, dashboards and developing risk mitigation strategies.

BUILDING RELATIONSHIPS

• In addition to strong relationships with colleagues in Old Mutual Group Tax, drive Cross-Functional and Business Collaboration
• Build Relationships with industry members on industry related tax compliance workgroups and subcommittees e.g. SAIA

TAX ADVISORY

• Prepare opinions and motivations to justify tax positions taken by the Business
• Prepare, review and submit tax returns, tax objections and appeals and alternate dispute resolution cases, as well as requests for tax directives to the Revenue Authority, on behalf of the Business
• Provide advice and recommendations to the Business on the implementation of new tax processes and tax controls, new products, administration platforms and systems
• Prepare Voluntary Disclosure submissions and requests for penalty remission to SARS
• Seek opportunities to minimise tax payments and identify tax risk mitigation strategies for the Group
• Prepare or assist with addressing customer tax-related (eg PAYE, IT3a/b) queries of a legislative nature escalated by Client Servicing Areas, the internal or external Ombudsman, or sales advisor and brokers, as and when necessary.

Qualifications & Required Skills

• CA(SA) with relevant under-graduate degree plus H.Dip Tax or Tax Honours /Masters required, with at least 8 years core tax advisory, tax compliance experience and tax reporting experience.
• Strong Knowledge of taxation of short term insurance;
• Good operational understanding across the financial services industry is essential.
• IFRS knowledge particularly related to deferred tax and tax disclosure is essential.
• Strong communication skills: is able to communicate large complex matters/changes using simple written, verbal and listening skills.
• Adaptable and able to cope with a dynamic environment. Must drive matters to completion (get things done)
• Must display emotional maturity and resilience: is able to multi-task (manage the outcomes to deadlines of multiple engagements) and work well under pressure.
• Be reliable, have integrity and display a professional approach.
• Maintain confidentiality of all information, both from internal and external sources.
• Display solid business acumen.
• Additional Job Description

PERSONAL/MANAGEMENT EFFECTIVENESS

• Accountable for achieving results through own efforts and through managing efforts of a small tax specialist team including working in collaboration with the wider Group Tax team and business.

Closing Date: 15 June 2024