The European Investment Fund (EIF) is seeking to recruit for its Operations & Information Management Department (OIM) – Transaction Monitoring and Termination Division (TMT), at its headquarters in Luxembourg:
(Senior) Officer – Operational Tax Activities
Appointment will be made on the basis of a fixed term contract of three (3) years.
Purpose:
EIF provides access to finance to SMEs through a wide range of selected financial intermediaries (as e.g. banks, guarantee, leasing and microfinance institutions, private equity and venture capital funds, etc.). To this end, EIF designs, promotes and implements equity and debt financial instruments, which specifically target SMEs. EIF’s activity is funded through both, its own share capital as well as funding resources entrusted by third parties to EIF as a manager (so called “Mandates”). In this context, Mandates can either be implemented as non-incorporated structures in form of managed accounts or trust accounts or incorporated structures.
The OIM Department is responsible for the implementation of back and middle office activities for both, EIF’s transactions with Intermediaries as well as Mandates entrusted to EIF by third parties. In this context, the TMT Division is, amongst others, responsible for operational tax aspects arising in the context of Mandates or transactions with Intermediaries including e.g. tax administration, tax analysis of investment structures and tax reporting. Following a recent re-organisation of the Department, all EIF operational tax activities, which were previously covered within different Divisions in the Department, will be centralised within an operational tax function in the TMT Division.
At a level commensurate with seniority, successful candidate(s) will be responsible for building up such centralised operational tax function and the development and implementation of the respective processes and procedures. In addition, considering that tax reporting usually forms part of a broader regulatory reporting (AML / KYC), the successful candidate(s) will particiapte in the regulatory reporting for EIF and its mandates in cooperation with the Front office Business Support team (FOBS). Additional accountabilities may evolve along the future development of tasks and responsibilities associated to EIF activities.
Reporting line:
The incumbent will report to and work under the supervision of the Head of TMT Division. Further responsibilities might evolve with the future development of the operational tax function.
Responsibilities:
- Monitoring and administration of all matters related to withholding tax on behalf of EIF and its mandates;
- Analyzing tax implications and tax risks of different investment structures in cooperation with other EIF services and external parties (as applicable);
- Analysis and administration of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) matters for EIF and mandates advised by EIF;
- Ensuring compliance of EIF and its mandates with relevant tax laws and regulatory reporting requirements (e.g. AML and KYC reporting) in cooperation with other EIF services;
- Monitoring of (international) tax developments and analysis of their impact on EIF in cooperation with other EIF services and external tax advisors;
- Regular update and upgrade of EIF’s tax procedures.
Qualifications:
- University degree, preferably at postgraduate level, in Tax, Accounting, Economics, Law or related subjects;
- At least five (5) years' relevant professional experience in international tax, preferably within Big Four or a reputable law firm;
- Understanding of EIF’s good tax governance standards, EIF mandates and good knowledge of EIF’s products would be an advantage;
- Excellent knowledge of English, both oral and written. Knowledge of other EU languages would be an advantage.
Competencies:
- Strong analytical skills and outstanding judgement on tax relevant matters;
- Strong organizational, planning and prioritizing skills;
- Capacity to manage complex operations and to act independently on the respective accountabilities;
- Good understanding of the application of automation solutions in the area of tax (e.g., withholding taxes and FATCA / CRS);
- Sense of initiative and innovation in proposing solutions to organizational issues;
- Team player.
Deadline for applications: 29th March 2019
* Due to high volume of applications, only candidates selected for interviews will be contacted.
