Agile Working Options

Job Description Summary

Job Description

Lloyds Banking Group is the UK’s biggest Digital, Retail and Commercial bank seeking to help Britain prosper. And we’re transforming our products and platforms with £3bn of investment to become the bank of the future.

Could you help us make this possible?

The Operational Taxes Team is part of Group Tax and is responsible for the oversight of the Operational Tax risks of Lloyds Banking Group as a whole.  This role involves working as part of a team and would provide informative, high quality, sophisticated output, advice and mentorship tailored to senior partner needs, operating as an Operational Tax specialist. The main focus of the role will be on Investment Taxes for the Insurance & Wealth business.

Your role will be to provide oversight of tax processes completed by appointed Custodians including receipt of overseas investment income net of treaty withholding tax rates, tax reporting and tax compliance processes for Insurance & Wealth’s UK OEICs and investment funds.  These processes are undertaken by third party outsourcers and the oversight work ensures that they are carried out to the required high standards and timescales as detailed in service level agreements, so that the funds’ tax position is fully understood and controlled in an efficient manner.

You would also lead withholding tax processes for territories and rates not covered by the outsourcing arrangements.  This means you’ll work closely with project teams, advisory teams and external advisors on developments affecting the investment portfolio, to grow our service and add value for our customers by improving their return on investment.

You’ll need to have technical tax knowledge for OEICs and other collective investments along with considerable experience of custodian working practises and the accessing of beneficial withholding tax rates via relief at source and reclaim mechanisms.  Combined with your technical knowledge and skills, you’ll be a great communicator.  Someone that can see the bigger picture and think commercially, you’ll take ownership to develop the relationships with third party providers and work collaboratively with them to drive, question and gain value from the services and benefits we deliver for our customers. 

Key Capabilities/ Knowledge/ Experience include but are not limited to:

• Specialist Investments Tax knowledge including overseas tax and withholding tax rules for Open Ended Investment Companies (OEICs) and other collective investments.
• Proven track record of working in the tax function of a large corporate group or professional accounting organisation, preferably in the Financial Services sector.
• Experience of providing oversight of outsourced withholding tax and OEIC tax compliance processes including the appointment of overseas tax agents.
• Experience of attaining global double taxation treaty rates, EU country domestic rates on investment income via relief at source, reclaims and completion of associated tax documentation.
• Understanding of withholding tax accounting policies.  
• A tax qualification is preferable. 
• A natural when it comes to relationship management skills, with a proven ability to analyse, challenge and influence.
• As an Advisory role,  experience in managing different partner relationships at all levels.  

You will be joining an experienced Operational Taxes team that advise the Group on all Operational Taxes matters including Stamp Taxes, Pensions tax reporting and all customer tax reporting including Bank Building Society Interest (BBSI), Other Interest (OI), ISAs, Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) etc. Experience in some of these areas would be beneficial although it’s the Investment Tax experience that is key.  

You’d get a benefits package that includes;

• A performance related bonus
• Generous pension contribution
• 30 Days leave plus bank holidays
• A flexible cash pot (4% of base salary) to spend on benefits
• Private health cover

We're dedicated to giving you opportunities and support to develop you both expertly and personally to optimise your potential.

As a new colleague, you’ll join us on our journey to build a 21st century bank that reflects modern Britain, and craft an inclusive culture where all colleagues feel encouraged and valued.

We're committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. We support the principles of agile working and are happy to consider flexible working arrangements. We're an equal opportunity employer and deeply value diversity within our organisation.

So if you have the knowledge and you want to work for an organisation that makes you feel valued, we’d love to hear from you!

Together, we make it possible.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain recover. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.