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Manager Taxation, Indirect Taxes At BMO Financial Group

Location: Toronto, Ontario

Job Description

Under direction of Senior Manager Taxation, Indirect Taxes, the Manager Taxation, Indirect Taxes is responsible for managing Canadian federal Goods and Services Tax (GST) and Quebec Sales Tax (QST) return processes, oversees Canadian provincial sales tax return process, and assists in managing effective relationships with Canadian Finance Groups and is a key contact of BMO Taxation with Canadian lines of business (LOBs) and Corporate Groups regarding these tax matters. Assists in overseeing foreign (non-U.S.) commodity tax returns and audits of the returns by tax authorities. Assists in managing Canadian commodity and sales tax implications of Canadian operations.

KEY ACCOUNTABILITIES

The Manager Taxation, Indirect Taxes is accountable for:

Leadership/strategy

Recommending effective tax policies, procedures, and controls that manage operational Canadian commodity and sales tax risk related to Canadian operations, including risk related to products, related party transactions, collection of tax, and changes to related tax requirements.

Assisting in developing timely forecasts of Canadian federal commodity tax burden by LOB for business plans and forecasts of net income.

Recommending effective tax policies, procedures and controls with respect to Canadian commodity and sales tax return and related compliance processes that ensure taxes are paid as required, tax returns are accurate, complete and timely filed, tax positions are supported, and tax return information meets requirements of Canadian tax authorities on audit of the returns.

Recommending effective tax policies, procedures and controls with respect to planning and execution of commodity and sales audits by Canadian tax authorities that ensure accurate information is provided to tax authorities on timely basis and facilitate timely resolution of audit issues in BMOFG's favour.

Developing and maintaining requisite understanding of Canadian operations of LOBs and Corporate Groups and related regulatory rules and reporting systems and tax technical and accounting expertise, and monitors Canadian commodity and sales tax developments that may impact BMOFG's Canadian tax burden.

Providing leadership by working collaboratively with BMO Taxation staff to develop and implement vision, goals, and strategies, establish action plans to achieve goals, and review progress to plans.

People

Identifying staffing needs and working collaboratively to assist in closing gaps, advising on allocation of work, setting context in which BMO Taxation staff work collaboratively with one another, providing formal input into performance evaluations, and mentoring and coaching in order to create and maintain effective tax function.

Identifying training needs of BMO Taxation staff with respect to Canadian tax technical and research skills, as well as accounting, management, and other required knowledge and skills, and working collaboratively to close gaps.

Creating and implementing training and development plan for Manager Taxation, Indirect Taxes, including developing and maintaining requisite tax technical and research skills, as well as accounting, management, and other knowledge and skills, identifying gaps, and working collaboratively to close gaps.

Assisting in providing managerial leadership to Analyst Taxation, Projects & Information Technology, including providing context for work, providing relevant information, and reviewing work.

Assisting in applying BMOFG’s performance management system to Senior Analysts and Analyst Taxation, including establishing goals and objectives, assessing knowledge and skill gaps, allocating resources to achieve objectives and close gaps, monitoring progress, and assessing personal effectiveness.

Displaying and encouraging appropriate high performance behaviours that are congruent with BMOFG’s Our Way Model and coaching and mentoring such behaviours in the BMO Tax Group.

Relationship management/advisory

Assists in managing effective relationships with colleagues in Canadian Finance Groups and is a key contact with LOBs and Corporate Groups with respect to Canadian commodity and sales tax return and related compliance processes.

Working collaboratively to assist in developing and implementing effective Canadian commodity and sales tax strategies and solutions that support financial and strategic initiatives of Canadian LOBs and Corporate Groups and reduce BMOFG’s tax burden.

Working collaboratively to assist in providing timely, thorough advice to Canadian LOBs and Corporate Groups on Canadian commodity and sales tax implications of current and proposed transactions and impact of changes in related tax legislation and administrative positions of tax authorities, and commodity and sales tax matters related to business plans, financial statements, and tax compliance.

Working collaboratively to assist in providing timely, thorough advice to LOBs and Corporate Groups with respect to Canadian commodity and sales tax implications of current and proposed related party transactions, and Technical Service Agreements (TSAs).

Working collaboratively with Canadian LOBs and Corporate Groups to assist in establishing and maintaining tax risk management framework that effectively manages operational Canadian and foreign (non-U.S.) commodity and sales tax risk of Canadian and foreign (non-U.S.) operations (including risk related to products, related party transactions, collection of tax, and changes to related tax requirements) and monitors compliance by LOBs and Corporate Groups with related policies, procedures, and controls.

Working collaboratively with Canadian LOBs and Corporate Groups to implement changes to Canadian business processes and systems as a result of changes to Canadian commodity and sales tax requirements.

Working collaboratively with Canadian LOBs and Corporate Groups, effectively managing timely collection of information required by BMO Taxation that is accurate, complete, has been reconciled to general ledger and data integrity has been verified.

Working collaboratively to assist in establishing policies, procedures and controls that ensure Canadian and foreign (non-U.S.) commodity and sales tax returns are accurate, complete, and timely filed and monitor compliance by LOBs and Corporate Groups.

Performing tax research based on current and proposed Canadian income and capital tax legislation, including reviewing or preparing tax memoranda, as required.

Working collaboratively with BMO Taxation staff, effectively managing or assisting with BMO Taxation projects as required.

Preparing formal and informal reports and analysis as required.

Risk management and control

Working collaboratively to monitor compliance by Canadian LOBs and Corporate Groups with tax risk management framework that effectively manages operational Canadian commodity and sales tax risk of Canadian operations (including risk related to financial products, related party transactions, collection of tax, and changes to tax requirements) and prepare accurate, complete documentation of framework and related policies, procedures and controls and update documentation as required, recommending corrective actions if necessary.

Monitoring compliance with tax policies, procedures and controls that ensure information required by BMO Taxation is accurate, complete, has been reconciled to general ledger, and data integrity has been verified.

Monitoring compliance with tax policies, procedures, and controls with respect to Canadian and foreign (non-U.S.) commodity and sales tax return and related compliance process that ensure taxes are paid as required, tax returns are accurate, complete and timely filed, tax positions are supported, and tax return information meets requirements of tax authorities on audit of returns, recommending corrective actions if necessary. Preparing accurate, complete documentation of process and related policies, procedures, and controls (including specifications with respect to accounts payable, general ledger and other electronic files) and updating documentation as required.

Assisting in monitoring compliance with tax policies, procedures and controls with respect to planning and execution of Canadian commodity and sales tax audits by Canadian tax authorities that ensure timely, accurate information is provided to tax authorities, recommending corrective actions if necessary.

Providing no tax advice directly or indirectly to particular customers or employees of BMOFG.

Governance

Managing timely collection of accurate, complete financial information from LOBs and Corporate Groups required by BMO Taxation, ensuring information has been reconciled to general ledger and data integrity has been verified.

Determining refund of GST and QST accrued in accounts of Bank and relevant Canadian subsidiaries and required journal entries, ensuring tax recovery and supporting working papers are accurate, complete and prepared on timely basis. Assisting in assessing Canadian commodity and sales tax risks in accordance with Canadian GAAP and preparing accurate, complete supporting documentation and related journal entries.

Preparing annual pre-approval application to CRA for GST methodology for Bank and Canadian subsidiaries that is accurate, complete, and timely filed. Computing refunds of GST and QST and preparing annual GST and QST returns for Bank and Canadian subsidiaries that are accurate, complete and timely filed, including preparing working papers that are accurate, complete, and support tax positions, and tax return information meets requirements of Canadian tax authorities on audit of returns. Preparing annual GST information returns for Bank and relevant Canadian subsidiaries that are accurate, complete and timely filed. Overseeing Canadian PST returns filed by Canadian LOBs and Corporate Groups. Preparing monthly QST returns.

Assisting in preparing timely, accurate responses to audit queries and proposed adjustments received from Canadian tax authorities with respect to Canadian commodity and sales tax returns. Researching tax issues and preparing memoranda outlining Bank’s position with respect to audit issues raised by tax authorities with view to resolving audit issues on timely basis in BMOFG's favour. Assisting in overseeing commodity tax audits by foreign (non-U.S.) tax authorities. Preparing quarterly memorandum on status of audits, any significant matters raised by tax authorities, and any required provisions.

Reviewing accuracy of (re)assessments of Canadian commodity and sales tax returns, reviewing or preparing related journal entries, considering impact on tax filing positions and recommending appropriate actions if necessary. Preparing quarterly memorandum explaining reassessments and related journal entries.

Adhering to all aspects of First Principles, our code of Business Conduct and Ethics, including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.

Operational effectiveness

Developing and maintaining requisite knowledge of spreadsheets and databases used with respect to Canadian income tax provision and tax return process.

Fostering environment of continuous improvement of Canadian commodity and sales tax processes and related policies, procedures and controls, and working collaboratively to develop and implement best practices (including opportunities for increased automation of processes) that address tax statutory and governance requirements and minimize time/effort requirements.

Working collaboratively to establish and maintain processes required to deal with electronic and other records obtained by BMO Taxation from LOBs and Corporate Groups that minimize time spent in dealing with data and ensure data is accurate, complete, has been reconciled to general ledger, and data integrity has been verified.

.


Qualifications

  • General knowledge of economic, social and political forces, and resulting regulatory requirements
  • One or more of the followings preferred: MBA, CA, CMA, CGA, CFA
  • 5+ years of experience in a global financial institution, preferably in corporate functions
  • Strong knowledge of BFC's business structure and operations
  • Experienced in dealing with regulatory issues and requirements Skills:
  • Strategic/big picture thinking, balanced with an ability and appetite to "dig into" the detailed content and understand the implications
  • Very strong written and oral communication skills to effectively interact with executives and senior managers in LOBs, including ability to synthesize complex and voluminous information
  • Comfort with ambiguity and in working with subject matter experts to address information gaps
  • Ability to manage multiple tasks and meet timelines without compromising the integrity of the information
  • Ability to rapidly move up the learning curve on complex bank issues (e.g. legal entity structure, funding arrangements, technology infrastructure, capital and liquidity dimensions, etc) Ability to work under pressure/tight timelines
  • Strong interpersonal skills
  • Excellent organizational and analytical skills
  • Strong project management skills and ability to manage and lead cross functional teams
  • Ability to work independently
We’re here to help
At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com .
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Job

Financial Planning & Analysis

Primary Location

Canada-Ontario-Toronto

Organisation

Finance-X000074

Schedule

full-time

Job Posting

04/05/19

Unposting Date

Ongoing