Tax Risk Management - Senior Specialist at Absa South Africa

Key Accountabilities

Accountability:  Driving tax risk management strategy

• In collaboration with the Head of tax risk, contribute, with thought leadership, to the development of the tax risk management strategy in line with overall operational risk strategy.
• Develop and enhance the future of Absa’s tax risk governance and controls to mitigate tax risk.
• Driving the Group’s tax capital adequacy process.
• Driving the development of the tax risk appetite.
• Embedding tax governance in all jurisdictions of Absa’s footprint
• Challenge the completeness, relevance and management of risks associated with the execution of the Group Function’s strategy.
• Improve on tax risk management strategies through exploring and implementation of digitalisation, automation and the standardisation of operating processes.

Accountability: Tax risk governance

• Development and maintenance of Group Tax’s Standards and Policies in collaboration with the second line of defense function.
• Provide in-depth knowledge of the tax risk systems and processes to improve the Group’s tax risk environment.
• Track, perform and monitor training on all Tax risk governance standards.
• Develop appropriate Key Risk Indicators for the Group Function in line with the Group KRI requirements.
• Develop the Group’s tax risk and control library.
• Represent Group Tax in risk committees, where applicable.
• Ensure the function and control environment assessments are timely, effectively completed.

Accountability: Stakeholder Management

• Provide support to the Group Functions team and Business functions to effectively manage Tax Risk.
• Build an effective working relationship with key stakeholders and ensure that risks are reported with completeness.
• Establish and maintain strong relationships with Group Operational Risk community of the Bank.
• Establish and maintain strong relationships with Absa Group subsidiaries and stakeholders.

Accountability:  Tax risk reporting 

• Responsible for the preparation of Tax risk reports to the relevant governance and risk committees. 
• Operational Risk reporting, the risk and control assessments and other risk reporting as required.
• Implementing improved reporting processes to drive efficiencies.
• Responsible for all tax risk reporting to various forums and committees on a frequent basis.
• Responsible for managing the group-wide tax risk forums and committees.
• Drive remediation of tax risks in business by developing action plans to mitigate tax risks.

Accountability:  Combined Assurance

• Development of and input into the assurance and conformance testing plans across the group
• Represent Group Tax in combined assurance forums and other risk committees of the Bank.
• Carry out control testing in accordance with the three lines of defense methodology.
• Leverage appropriate systems and controls including assurance methodology to identify, assess, measure, report, control and manage key risks.

Accountability: Participation in internal and external forums

• Represent Absa Group Tax in internal and external Industry forums.
• Driving the Group’s tax risk strategy in relevant forums

Accountability: People management

• Supervise a team to ensure effective daily operations.
• Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members.
• Determine development needs for the team and ensure that identified training requirements are budgeted for and executed.
• Establish and maintain a succession plan for the team.
• Assist with the interviewing and recruitment of new members to the team.
• Motivate team members by creating an engaged positive work environment

Role/Person Specification

Education and Experience

• B Com or Honours Degree or equivalent NQF level qualification.
• Risk management and tax qualifications are preferred
• Eight (8) years experience in Risk Management
• Three (3) years experience within the Financial Services Industry, preferably in the tax environment.

Preferred Requirements

• B Comm – Tax
• Advanced studies in risk management and strategy
• HDIP Tax