Company Description
Natixis in Portugal is a Centre of Expertise whose mission is to transform traditional banking by developing innovative solutions for the business, operations and work culture of Groupe BPCE worldwide.
Natixis in Portugal is part of the Global Financial Services division, where it applies technology for the development of financial expertise in its two global business lines – Corporate & Investment Banking and Asset & Wealth Management – and, transversally, for the entities of Groupe BPCE.
The Centre of Expertise, based in Porto, currently has more than 2,400 employees from over 30 nationalities, organised in three main departments: Information Technology, Banking Support Activities and Compliance. These teams work in an integrated, inclusive and transversal way, supporting and creating value for all the business lines and platforms of the group. The project in Porto is one of the biggest investments in Human Resources ever made by Groupe BPCE worldwide.
A disruptive mindset and a culture of proximity and agility identify Natixis in Portugal Team and reflect the company's mission to transform traditional banking at a global scale: a perfect match in the Portuguese dynamics and entrepreneurial ecosystem.
In 2024, Top Employers Institute has awarded Natixis in Portugal the Top Employer Portugal accreditation for the second time. This certification recognizes excellence in people practices, following the example of our head office, in France, who was certified Top Employer France for the eight year in a row.
Job Description
Team presentation and main goal:
The COO CIB provides middle and back-office functions as well as Third Party administration for the activities of Global Markets, Financing, Investment Banking and Trade and Treasury Solutions, serving Commercial Banking.
The Operational Tax and Regulatory unit in the Business Management of COO CIB oversees operational taxation, securities custody account keeping and the coordination of regulatory changes impacting the OPS department.
The supervision of operational taxation (Op Tax unit) is a new activity that is gradually being put in place, with a progressive ramp-up. The OpTax unit is gradually taking over a wide range of tasks covering all CIB businesses (market operations, financing operations, etc.).
The mandate of the team is to:
Manage all operational processes related to tax regulations (20 regulations to date),
Provide a control and monitoring framework for all processes related to tax regulations,
Provide operational expertise on regulations within its scope,
Perform regulatory watch.
Main tasks and goals:
The processes covered are notably DAC6, processes contributing to US taxation (documentation, reports), VAT processes, Taxes on Financial Transactions, processes of withholding tax, etc.
Understanding and working knowledge of FATCA and CRS Regulations
Collect sensitive client documentation regarding tax regulations such as FATCA, AEOI, 871m / QDD…
Client tax documentation analysis
Management of change in circumstances
Analyze, determine and approve adequacy of the Forms for tax regulation, updating the data system.
Analyze and solve inconsistencies, reported in a monthly based controls
Liaise with the customers and other stakeholders to gather the necessary documents.
Due diligence in case of Tax Treaty Benefits - section 871 (m) of the US Internal Revenue Code and review yearly the expired reduced tax rates.
Responsible for execution of controls and effectiveness.
Responsible to produce and review KPIs per Regulation and support constant review on relevance of these KPIs
Interact with the Compliance department to follow internal policies and procedures.
Responsible for all escalation and visibility to leadership.
Make recommendations/suggestions to standardize procedures and processes.
Perform operational activities.
Detect transactions potentially reportable for DAC6
Ensure weekly and monthly controls on Equity Policy
Ensure EAI/Fatca/QDD controls prerequisite to declarations
Prepare reports and payments for certain type of withholdings, in cooperation with other stakeholders in the process (Global Market Operation, Finance (Tax), Compliance, IT…)
The scope of these activities will be completed as part of the OpTax Unit deployment project
Participate to the definition and implementation of control plans. These controls may consist of checking transactions (checking the tax treatment applied to a sample of transactions), or checking level 1 controls performed by other teams.
Write / update operating procedures associated with operational or control tasks
Contribute to tax projects involving the implementation of operational processes
Contribute to the sharing of knowledge within the scope of operations / between operational tax advisors on tax issues
Contribute to the continuous improvement of key activities and processes related to operational tax tasks
Qualifications
Higher education (in relevant area: Law, Taxation, Business School, etc.)
1-3 years experience in CIB business
1-3 years experience in Tax documentation
1 year experience in Source Deductions Regulations and Tax Credits
1 year experience U.S. Tax Returns (QI/QDD/Fatca)
Fluency in English is mandatory and a good level of French is definitely a plus.
Advanced knowledge of Office tools (notably excel)
Knowledge of Power Apps (including Power BI)
We will only consider English CV's.
Additional Information
At Natixis, we are committed to fostering a working environment where each and every one of our people is treated with dignity and respect and where every voice is heard. Our differences make us collectively stronger and are a source of fulfilment, innovation and performance.
In the framework of its Diversity, Equity & Inclusion policy, Natixis in Portugal has implemented a Blind CV Screening process, with the purpose of reducing hiring bias. A blind CV excludes any personal details which refer to the applicant's gender, age or ethnicity.
When applying for our positions, please submit a blind CV, that is, with no picture, name, gender, age, nationality, ethnicity and address. Your personal statement, work experience, courses and certifications, education, skills and contact information is what matters to us.
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