UK and Continental Europe Tax Director | London, UK

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BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are more than 121,000 professionals working in multidisciplinary teams with profiles as diverse as financiers, legal experts, data scientists, developers, engineers and designers.

About the job:

The CIB UK and Continental Europe Finance team is responsible for planning/budgeting of the CIB business in order to properly forecast and track the results and provide the necessary support to management to monitor the business and make strategic decisions. In addition, the team is in charge of the accounting and regulatory reporting, Cost management functions and Tax.

We are seeking a professional to join our Finance team in London as UK and Continental Europe Tax Director, reporting to the UK Financial Director and to the Spanish Holding Tax Dept. The selected candidate will be responsible for overseeing all tax related activities and strategies related to BBVA’s business carried out from the UK, working in collaboration with other colleagues based in Madrid and the rest of different jurisdictions of BBVA’s footprint, ensuring compliance with the relevant tax laws and regulations and providing continuous tax support to the business areas, contributing to the company growth and success.

BBVA’s growing business in Europe encompasses a London based UK branch of our parent company in Spain, BBVA, S.A., conducting mainly Corporate & Investment Banking (CIB), i.e. Global Markets, Global Transactional Banking and Investment Banking and Finance activities for UK and international corporate clients and institutional investors.

Main responsibilities:

• Tax strategy and planning

1. Contribute to the development, update, implementation and control of ongoing compliance with the tax strategies and policies for the CIB business unit in the UK and Continental Europe, in line with BBVA’s group global tax strategy and business growth objectives in the UK and relevant markets.
2. Participate in strategic initiatives promoted by BBVA from the UK, evaluating the tax implications related to new business initiatives and assisting in evaluating the tax effects of various business proposals and planning ideas.
3. Participate in internal / external working groups where tax matters affecting BBVA CIB business are discussed. Represent the Bank with respect to various industry advocacy groups for CIB tax matters.
4. Identify and assess tax risks and opportunities and develop strategies to mitigate tax risks and optimize tax outcomes, ensuring adherence to relevant tax regulations.
5. Stay updated on changes in the tax laws, regulations, rulings and procedures, to determine not only its impact on the Group but also any opportunities which may be derived for the different business lines as a result of these changes, in collaboration with Tax Department senior staff.

• Tax Advisory

1. Tax assistance, in collaboration with Tax Department senior staff, in evaluating the tax implications of new products, risks and requirements of products proposed by the various business lines, ensuring compliance with the relevant tax regulations.
2. Review and negotiate the tax provisions of credit facilities, MRPAs, ISDAs, GMSLAs, GMRAs and other relevant banking agreements and legal documentation related to the CIB business, providing tax advice to the internal stakeholders, as necessary.
3. Tax audit support, including responding to queries from the Authorities. Assistance in managing any investigation and / or other administrative processes when required.
4. Collaborate in the elaboration, revision and implementation of BBVA transfer pricing policies and internal SLAs related to the CIB business.
5. Respond to queries raised by the business teams, group management and/or from other colleagues at BBVA, in connection with any CIB business initiatives launched from any of the European offices or with UK/Continental Europe ramifications.
6. Oversight of external advisors and coordination with BBVA local teams. Establish relationships with other players in the CIB industry.

• Tax compliance and reporting

1. Alongside other BBVA colleagues and external advisors, oversight and review of the preparation of BBVA relevant tax returns (quarterly estimates, annual tax returns, tax provision, Pilar II, etc.), and transfer pricing documentation.
2. Assistance in the preparation of specific tax filings related to the CIB business, including the maintenance of any regulatory tax reporting policies and procedures required for the CIB business carried out from BBVA UK and Continental Europe branches.
3. Respond to recurrent questions concerning tax accounting, tax compliance matters, business forms and regular advice related to the CIB business, from internal or external stakeholders.
4. Monitor the impact that any change in tax laws and regulations may have in the tax position of the Group in the UK and or in BBVA SA Head Office.
5. Collaboration in the implementation of effective internal controls and processes to ensure accurate and timely tax reporting and compliance.
6. Analysis of income tax accounting impact of business transactions.

Qualifications

• Bachelor’s degree in Accounting, Finance, Taxation or related field. Master in Taxation degree and/or similar certification would be valued.
• At least 10 years experience in a tax position related to the financial services industry, working in a top law firm, accounting firm or major financial institution.
• Deep understanding of UK tax and Continental Europe regulations, case law and administrative guidelines, as well as international taxation (including double taxation agreements, transfer pricing provisions and identification and reporting obligations under EU/OECD/UK standards -FATCA, CRS, DOTAS-, as well as international initiatives related to taxation).
• Deep understanding of the standard agreements utilized in the CIB business.
• Proven track record of leading tax strategy, planning, compliance and risk initiatives.
• Strong analytical and problem solving skills, with the ability to interpret complex tax laws and regulations.
• Excellent communications and interpersonal skills to communicate complex tax concepts to other colleagues in the Tax Dept, as well as to non-tax professionals.
• Excel and the rest of Microsoft Office package professional skills. Additional data management skills would be valuable.
• Spanish would be valued.

Skills:

English Language, Inspections and fiscal resources, International Taxes, Spanish Language, Tax Advising, Tax Compliance, Tax management and preparation of tax returns, Tax strategy and internal tax regulation, Transfer Pricing Documentation #J-18808-Ljbffr