HSBC Group

Role Purpose

The purpose of the role is to provide global strategic direction and guidance to senior management of legal entities with respect to tax issues that are relevant and impactive to the HSBC Group. For context, the Group has an annual tax charge in excess of $7bn, pays tax in excess of $9bn and collects tax of approximately $10b per annum.  Net deferred tax assets are in excess of $5bn.

The role manages all tax risks and obligations (compliance, regulatory, reputation etc.) for the Group’s businesses, functions and entities through a combination of 1LoD and 2LoD responsibilities. The role leads the tax teams globally and directly manages the global tax teams.  The role liaises closely with tax peers in regions to ensure the delivery of a professional, effective and responsive tax function. The role holder develops and maintains relationships with key Tax Authorities and other regulatory bodies, as required, (such as JMLIT).

Responsible for optimizing all taxes taking into consideration, risk appetite, regulatory rules and reputation, including protecting the reputation of the Group as a fully compliant taxpayer in all jurisdictions of operations and with the Banking Code of Conduct. Provide tax support on all merger, acquisitions, disposals and group / business restructures to ensure senior management are aware of all of the tax costs and opportunities.  
The role holder will lead the Global Tax ExCo and be a member of the Controllership Finance Leadership Team. The role holder will be required to present regularly to the Group Audit Committee, Group Disclosure Committee and other senior governance forums.

Principle Accountabilities

• Deliver the Group’s tax compliance/tax reporting commitments on time and to the requisite standards and build and maintain open, transparent and constructive relationships with tax authorities globally.
• Manage tax risks of all HSBC entities, businesses and functions in line with HSBC's strategy and risk appetite, and applicable regulatory requirements.
• Drive effective planning to optimize the Group’s overall tax P&L, within Group risk appetite.
• Drive effective resolution of areas of dispute and uncertainty, arbitrating between the conflicting requirements as necessary and providing consistency in resolution.
• As 2LoD, to ensure the accuracy and completeness of documentation and reporting systems and general compliance with local and global operational tax obligations such as CRS and FATCA.
• The role holder has direct responsibility for the legal entity rationalization programme (reported to the Holding Board and a Group strategic KPI) and also driving tax change (such as global and domestic minimum tax regimes and transfer pricing developments).
• Overall responsibility for the effective operations of the $5m per year tax compliance outsourcing contract with KPMG.
• Responsible for tax (compliance, reporting, advisory, tax reputational risk etc.) for all entities, Global Businesses and Global Functions.
• Total tax related P&L within the scope of the role holder > USD4bn

Experience

• Tax qualification  - Qualified tax professional (Chartered Accountant preferred, Chartered Tax Advisor or equivalent, Doctor of Laws or equivalent).
• Technical Breadth & Depth - 20+ years of proven corporate, international and operational tax knowledge and experience.  In house tax experience, preferably gained in another Financial Services institution (alternatively, in-house tax experience and FS Tax experience gained in a Big Four firm).
• Financial Services Expertise - Depth and or / breadth of experience within a major accounting firm or large finance team. Deep understanding of financial services as an industry and of the accounting/regulatory rules governing the Group

Capabilities

• Business Insight & Decision Quality - Applying knowledge of business and the market to make good and timely decisions that keeps the organization moving forward.
• Optimises Work Processes - Knowing the most effective and efficient processes to get things done, with a focus on continuous improvement
• Action Oriented - Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
• Builds Effective Teams - Building strong-identity teams that apply their diverse skills and perspectives to achieve common goals.
• Persuasion & Conviction - Using compelling arguments to gain the support and commitment of others; stepping up to address difficult issues and saying what needs to be said.
• Manages Ambiguity & Ensures Accountability - Operating effectively, even when things are not certain or the way forward is not clear; holds self and others accountable to meet commitments.