About the job
The incumbent will assume prime responsibility for coordinating the Taxation issues within the Group. This will include the deduction of Withholding Tax (WHT) on the payments subject to WHT, analyzing and ensuring timely submission of tax returns and payments to local tax authorities.
Essential Duties & Responsibilities By Dimensions
- Shareholder & Financial:
- Support the ongoing tax provision requirements for the bank for local and international operations in coordination with Specialist International taxation and ensure the reasonableness of the tax charge.
- Regular review to ensure that the bank is complying with WHT and other tax requirements and tax payment obligations.
- Assist in the on-going taxation process in the bank and progressively review opportunities for legitimate tax planning across the Group.
- Demonstrate a clear understanding of the important factors behind the bank’s financial & non-financial performance.
- Observes and promote cost consciousness and efficiency, and enhance productivity, to minimize costs, avoid waste, and optimize benefits for the bank.
- Act within the limits of the powers delegated to the incumbent and adheres to QNB policies
- Customer (Internal & External):
- Coordinate with the various Divisions/Departments within the bank to ensure tax compliance and record explanation for deviations with escalations as required. Also, assess the assessment status of tax returns submissions.
- Build and maintain strong and effective relationships with all other related departments and units to achieve the Group’s tax goals/ objectives.
- As required liaise with the Group’s IT Department to ensure taxation reporting needs of the bank are timely resolved/attended to, to the extent these are dependent on required system enhancements.
- To assist customers (External/Internal) in all their queries on the Divisions products/tasks and seek solutions to their requests
- Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/ units to achieve improvements in turn-around time.
- Provide timely and accurate information to the external and internal Auditors, Compliance, Tax Authorities and Risk Functions as and when required
- Internal (Processes, Products, Regulatory):
- Provide professional taxation service support that contributes towards the achievement of the Group’s strategic objectives.
- Assist in delivering of a high-quality taxation strategy and tax advice in a clear and timely manner for QNB Group.
- Withholding tax expertise and accurate deduction of WHT from payments if applicable.
- Identify tax risks and design mitigating actions to limit liability across all operations.
- Assist in the coordination of taxation due diligence activities across the QNB Group.
- Prepare the preparation and submission of the bank’s tax returns.
- Develop/enhance and maintain the taxation matrix summary which will list out the various tax requirements in the jurisdictions in which we operate and circulate as required.
- Ensure adherence to taxation policies and procedures.
- Liaise with concerned departments and IT Department to resolve all observed inaccuracies in outputs/systems.
- Learning & Knowledge:
- Possess a good knowledge of taxation laws and maintain an understanding of all pertinent regulations as well as best practices pertaining to taxation.
- Takes responsibility for self-development as well as acquiring skills and knowledge required to fulfillment of one’s duties by proactively identifying areas for professional development of self and undertaking development activities
- Seek out opportunities to remain current with all developments in the professional field
QNB – Job Description March 2023 Division: Group Financial Control Page 2 of 2
- Legal, Regulatory, and Risk Framework Responsibilities:
- Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, the QNB Compliance manual; Group Compliance Policies and Procedures (Anti Money Laundering & Counter Terrorist Financing, Sanctions Policy, Data Protection Policy, Fraud Control Policy, Whistle Blowing Policy, Conflict of Interest and Insider Dealing Policy).
- in accordance with the Banks Governance manual, contribute to and comply with the Banks Risk Framework, consider Risk Appetite and promote a positive Risk Culture:
- Understand and effectively perform your role under the Three Lines of Defence principle to identify, measure, monitor, manage and report risks.
- Ensure systematic good outcomes for clients in accordance with the Conduct Risk policy.
- Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain and maintain the required levels of competence.
- Attend mandatory (internal and external) seminars as instructed by the Bank.
- Ensuring high standards of data protection and confidentiality to safeguard commercially sensitive information. Maintaining utmost confidentiality with regard to customer and internal bank information obtained during the course of business and providing such information on a need-to-know basis only to Senior Management of QNB, Audit and Compliance functions, and relevant Regulators.
- Maintains high professional standards to uphold QNB’s reputation and strengthen its market leadership position.
- All other ad hoc duties and/or activities related to QNB that management may request of the employee from time to time
Education & Experience Requirements
University graduate (Bachelor’s degree) preferably with a Major in Finance, Banking, Economics, Mathematics, or Accountancy (related field of study)
- Professional certification such as CPA or CA, Taxation Certificate is a plus.
- Preferred minimum of 3 years experience in a Professional Accounting Firm/Tax Consultancy or Major Bank with exposure in the taxation function.
- Good oral and written communication skills (including report writing) in English. Arabic or French is desirable.