Lead: VAT Compliance and Systems Specialist at Old Mutual

Job Description

This role is responsible for interpreting VAT legislation and providing relevant VAT advice to all business units in the Old Mutual Group including minimizing tax risks and ensuring compliance advising on Value Added Tax (VAT). The incumbent is accountable for achieving results through own efforts and/or through managing a small team.

Key Result Areas

Tax/VAT Management and Reporting

• Assessment of VAT process, disclosure, reporting and financial impacts because of changes to VAT legislation, SARS Practice, SARS rulings, VAT case law, or Business structural changes
• Assist with establishing best practice protocols/processes for quarterly, interim and year end reporting, forecasting and business planning processes for VAT compliance and reporting
• Assist with reviewing of indirect tax disclosure in the Integrated report and Annual Financial Statements, to the extent relevant
• Assist with monitoring and assessing key controls over VAT processes (including identification of opportunities to improve processes), the identification and documentation of VAT risks on the CURA system as well as actions to remedy and the documentation/tracking of progress to remedy, and regular VAT ‘health’ checks to ensure policies/protocols are implemented as anticipated and the reporting and tracking of VAT savings identified by Segment
• Assist with the review of more complex VAT Submissions, as and when required
• Responsible for and assist with effective and timely management of dispute resolution with SARS, requests for directives/rulings, voluntary disclosure to SARS and other liaison with SARS as and when required
• Develop and produce VAT analytic reports. Identify variances, anomalies and investigate where required
• Responsible for VAT apportionment methodology, improvement, implementation, monitoring, review and compliance in the Old Mutual group
• Advise on tax setup in Oracle/ other systems, execute testing and validation, and ensuring timeous system updates

Governance and Compliance

• Assist with the development and implementation of Group Tax Policy and codes of best practice across the business Segments
• Ensures business compliance with all aspects of VAT compliance and various legislations whilst regularly monitoring
• Sound Product, business process and internal systems VAT-related knowledge
• Assist with and responsible for compiling VAT process and compliance guidelines and quality standards and driving compliance throughout the business segments
• Responsible for identifying Operational Tax Risks and providing input into and maintaining Tax Risk Logs, dashboards and developing risk mitigation strategies
• Assist Group Head of Indirect Tax (VAT) as representative on Industry bodies, Tax Workgroups and
• Committees (e.g., ASISA, SASTIA, SAICA, SAIT and/or other Internal Tax Forums, Risk Committees and Project Boards)
• Manage complex VAT related tasks and engage with multiple teams from a tax and project perspective
• Monitor VAT compliance obligations of group entities and complete monthly VAT Dashboard

Building Relationships

• Effective Cross-Functional and Segment collaboration through strong relationships
• Strong relationships with SARS in the VAT enforcement/Audit space and with SARS VAT Specialists
• Mutually beneficial relationships with industry members on industry related tax compliance workgroups and sub-committees

Tax Advice

• Strong subject matter expertise to enable well considered, balanced VAT advice to Business Segments throughout the Group, within risk appetite set by the Board
• Assist with the supervision and review of preparation of VAT Returns, motivations to support applications for VAT Rulings to SARS and strong grounds for objections/voluntary disclosure/waiver of penalties and interest to SARS
• Assist with the provision of advice and recommendations to Business on the implementation of new VAT processes and controls, impact on new products, admin platforms and systems
• May prepare or assist with the preparation of Voluntary Disclosure Submissions and penalty remissions letters to SARS
• Actively seeks and identifies tax savings opportunities or risk mitigation strategies for the Group
• Support to Business with addressing customer tax-related queries of a legislative nature, escalated by Client Service Areas, the internal or external ombudsman, or sales advisor and brokers
• Responsible for monitoring, assessing and advising on changes to VAT legislation.
• Provide input into Tax Technical meetings, National Treasury (Legislative amendments) and other Tax related bodies

Personal/Management Effectiveness

• Accountable for high quality service delivery through individual effort and/or through small team of VAT compliance/advisory specialists
• Able to collaborate with management and teams effectively across functional disciplines and segments of the business
• Ability to be adaptable and cope with a dynamic environment
• Ability to demonstrate reliability, integrity and professionalism
• Ability to maintain confidentiality of all information, both from internal and external sources
• Demonstrative ability to be a self-starter and able to execute effectively
• Deep subject matter expertise (VAT), particularly in the Financial Services industry (specifically, strong knowledge of VAT apportionment methods)
• Excellent verbal and written communication skills
• The ability to perform and lead under pressure
• The ability to interact and work with diverse teams
• Strong forward-thinking and analytical skills, pragmatic and numerate
• Logical thought processes and critical thinking skills resulting in sound judgment at an enterprise level
• Problem-solving, solutions-orientated, independent decision-making ability
• Required to play mentor role to junior team members and tax administrators in the Old Mutual group
• Accepts and lives the company values

Minimum requirements for the role:

• Qualified Chartered Accountant, an advantage or B.com with articles/traineeship and/or VAT qualification
• A minimum of 5 to 8 year’s VAT experience in a financial services/ insurance environment (insurers and/or banks)
• Extensive VAT accounting, VAT compliance and VAT advisory experience in a large group and/or professional services firm
• Ability to lead the team whilst communicating its tax contribution in a transparent manner.
• Previous exposure in dealing with challenging blend of strategic input and governance, technical comprehension and relationship building, while leading with influence and executing conscientiously.
• VAT/Tax risk management, monitoring and oversight experience
• Strong knowledge of financial services industry and relationships with key stakeholders (e.g.,
• SARS, National Treasury, etc.) in general