Summary
Custody and Fund Services, a division of J.P. Morgan Chase Bank, N.A.’s Securities Services business, is a global industry leader with over $31 trillion in assets under custody. J.P. Morgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and debt and equity issuers. J.P. Morgan’s Custody and Fund Services business is comprised of Custody, Accounting, Transfer Agency, Middle Office outsourcing, Foreign Exchange, and other activities related to servicing assets for traditional and alternative funds; it leverages its scale and capabilities in more than 100 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, trading services and alternative investment services.
The Custody Tax Product management role forms part of the product management function focusing on the management and control of the Global Custody business with the specific aim, along with the Business leads, Product Control function and the Client teams, to run the Global Custody business end to end. This team has responsibility for the definition, ownership, development, and business management of custody tax-related matters within the Global Custody business.
The ideal candidate for this role will have tax technical knowledge / experience working with tax laws of various jurisdictions within a Global Custody environment.
Key responsibilities of the role will include:
- Monitoring and communication of tax changes and their implications across markets, products, and regions to JPM custody business locations and their respective clients
- Maintaining relevant internal / external materials reflecting current state of local law, treaty, including entity level taxation of various types of investor
- Management of tax information in J.P. Morgan’s Tax Intelligence platform
- Working with local sub-custodians to oversee the tax service in the local markets
- Drafting of market flashes and associated policies, tax product materials, etc.
- Assisting the business in managing and mitigating tax risk
- Partnering with J.P. Morgan Corporate Tax, Legal, Product and Sales / New Business teams to develop new tax products and create business proposals for clients and prospects
Global Custody Tax Product Team general responsibilities:
- Translate tax law / policy / rule changes into business and system requirements
- Develop solutions to enable clients to manage tax aspects of their global portfolio investments
- Update client-facing data using defined J.P. Morgan standards
- Engage in industry representative efforts related to the introduction of new or amending tax legislation and associated administrative procedures
- Set and maintain tax product definitions and understand the product, its delivery, its clients, and how is revenue is realized
- Ensure a globally consistent service across the Global Custody tax product to include a legal & risk framework, service model, reporting and required account structures.
- Perform ongoing competitive analysis and benchmarking to influence strategy.
- Collaboration with the Operations and Corporate Tax teams to assess the impact of Market & Regulatory developments on the Global Custody Tax product offering and implement appropriate business solutions.
- Analyze product impacts, opportunities & threats of external and internal changes from a tax perspective.
- BAU support for Global Custody tax issues and client requests in relation to core tax service offering.
- Product leadership and center of excellence on Global Custody Tax product knowledge and issues - provide direction and guidance to business partners.
- Act as the face of the Tax Product with clients, supporting client meetings, RFPs and deal presentations
- Governance and quality assurance of Global Custody Tax solutions /operating models developed against a global standard and product book
- Definition and implementation oversight for new and/or enhanced product features and functions
Skills and Qualifications:
- Knowledge of tax considerations impacting institutional portfolio investors and custodians
- Excellent written and verbal communication skills with the ability to provide tax regulatory and product updates for internal stakeholders and external clients
- Strong analytical ability with attention to detail
- Ability to partner with cross-functional teams in multiple locations
- Self-starter with a passion for identifying and implementing solutions to problems
- Capable of managing multiple competing priorities and stakeholders
- Strong presentation skills and previous client facing experience
- Project management experience is a plus
- Experience working in a professional services firm or financial services firm
