Global Custody UK Tax Account Manager - Assistant Vice President - #1695494

BNP Paribas is the European Union’s leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.

Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.

Company Purpose

Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.

Our Employer Promise Is Built Around Three Pillars

• Being a great place to work
• Committed to sustainability and having a positive impact
• Being dedicated to the development of our people
  
  

Business area

Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.

The Banking Services and Operations (BSO) Department delivers services in three areas:

• Local Custody, which is providing Clearing, Settlement, Cash, Corporate Actions, Income, Tax services for UK and international clients. These are mainly Institutional Investors (Asset owners, Asset Managers…), and Financial intermediaries (Broker Dealers, Global custodians…).
• Global Custody, which provides the same range of services to Institutional investors, asset managers who open a Global Custody account in UK to hold assets in over 90 countries.
• Broker Dealer Outsourcing, which provides Back-office outsourcing services of Settlement, Financial accounting and Transaction reporting for Mid-size Brokers.
  
  

Job Purpose

The Global & Local Custody UK Account Manager administration role is responsible for maintaining daily contact with clients and internal teams in relation to Global Custody UK activity on all Global Markets. The role will have a primary administrative responsibility (Reconciliations, Tax, Settlements or Corporate actions & Income) but will also cross train so as to be able to support the work of all sections within the GCUK team.

The GCUK Tax account manager role is responsible for ensuring clients Tax reclaims and Relief at Source (RAS) documents are in place for all global custody clients in a timely manner. They will be responsible for their own clients Tax reclaims and RAS.

He/she provides direct support to clients including operational, market and processing knowledge. He/she ensures that clients’ questions and issues are responded to in a timely and appropriate fashion.

He/she also ensures that any client and non-client facing tasks are performed in an accurate and timely manner. They are to ensure the adherence to all processes and procedures.

As such, the Account Manager oversees the local operational processes on behalf of the client. The Account Manager will need to work well within a team environment and work effectively together with teams based in the UK and Globally.

Key Responsibilities

• Tax reclaim and Relief at Source tasks covering all markets and clients.
• Tax reporting involvement.
• Manual processing for all aspects of Tax.
• Query management – Ensuring these are answered in an accurate and timely manner.
• Be responsible for accurate and proactive production of own work.
• Processing and completion of tasks are in line with procedures.
• Adopting a pro-active approach to issues and events that may have significant impacts for the clients.
• Adopting a pro-active approach to improve the current processing of work.
• Ensuring daily reconciliation and clearance of cash breaks.
• Ensuring all key controls and assigned tasks are completed in a timely manner.
• Holding/attending meetings/calls /due diligence /service review with clients/internal parties/external parties.
• Liaising with clients and internal parties to resolve any issues pertaining to custody activity.
• Ensure key controls are updated and maintained.
• Is responsible for updating and maintaining GCUK procedures and proposes changes / improvements when appropriate.
• Build strong relationships with all parties and work together effectively.
• Ad-hoc projects as required
• Actively follows-up the progress and resolution of all Birdies and Preventive Measures.
• Archiving for the GCUK team.
• Ensures that ROME Lite and all other Risk Framework is regularly updated to cover all custody risks.
• Assists in building KPI / Metrics to monitor the GCUK risk and control framework.
  
  

Requirements

Essential

• Experience of the process involved and documentation necessary for Tax reclaims and Relief at Source
• Results and quality orientation supported by relevant computer literacy and a good knowledge of standard computer software. The ability to learn and utilise specialist applications appropriately.
• Good written and oral English skills in order to articulate technical issues associated to work area.
• Attention to detail including knowledge of specific regulatory principles and processes. Able to translate knowledge and experience into recommendations to improve team operating practices.
• Technical expertise including sound working knowledge of policies, procedures, regulations and legislation within client delivery
• Practical knowledge of UK and / or Global markets demonstrated by experience of how market specific transactions operate.
• Behaviours in line with BNP Culture expectations including adaptable to change, risk awareness, customer service focus and all within a supportive team environment.
  
  

Preferred

• Innovation and continuous improvement – Use own initiative and ability to work under volume pressure.
• Excellent organisation skills to manage workload which can include manual input of data
  
  

And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).

A Bit More About Why You Should Join Us

• We’re a great place to work
  
  

We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)

We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:

• Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
• Key onsite services and facilities in Scotland – include free monthly massage and yoga, mental health first aiders and seasonal flu vouchers.
• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
• Subject to relevant caps
• As the eurozone’s largest bank, we are committed to having a positive impact in the world.
  
  

For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.

But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.

• We believe in our people
  
  

We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.

We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.

Investing in our people also means we have a collaborative and inclusive culture:

• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:
  
  

Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.

Equal opportunities

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.

Adjustments

We don’t want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you’d benefit from some adjustments or additional support, please let us know as early in the process as possible.