Manager of Operational Tax and Client Fees

Kleinwort Hambros
 Jersey, Channel Islands       Permanent contract        Other job functions



The Operational Tax and Client Fees teams are responsible for the end to end management of the bank’s FATCA/CRS and QI reporting campaigns, along with the general day to day management and control throughout the year. In addition, our client fees team are responsible for the calculation and collection of client fees.

The teams are located in Jersey and Bangalore and operate on behalf of the Kleinwort Hambros group, based in Jersey, Guernsey, Gibraltar and the UK.

We execute change programs and create new operational capabilities to drive efficiency, improve client service levels, and reduce our operational risk.


The Manager of Operational Tax and Client Fees will act as Line Manager for those teams, from both a staff and expertise perspective.

Firstly, to manage the day-to-day operational requirements for complying with our responsibilities as a QI (Qualified Intermediary), for US withholding tax purposes, and for meeting our reporting obligations under the AEoI (Automatic Exchange of Information), also known as FATCA, (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standards).

Our Operational Tax Team manages reporting for many regulatory and tax obligations, including QI, FATCA and CRS and any other AEoI or withholding tax service which may be required in the future.

This will involve senior engagement and representation across the business, to ensure all areas are delivering on their obligations to ensure successful reporting.

Secondly (and equally) to facilitate collection of banking, custody and investment management fees from clients.

Our Client Fees Team is responsible for the correct application of the bank’s investment management tariff for the collection of client fees.

Line Management Responsibility include staff and teams based in Jersey and Bangalore (provided by our outsource partner, Infosys), ensuring all activities are conducted in accordance with approved procedures and service level agreements.

Extensive people management duties include identifying and acknowledging good performance, addressing and managing any underperformance, performance appraisals, coaching and mentoring staff, objective setting, ensuring all staff complete compliance and training requirements and holding regular team meetings. Involvement in recruitment includes participation in interview and selection process. Strong people skills will include experience of directly managing medium sized teams. Our Manager of Operational Tax and Client Fees will mentor and develop staff in their Teams, encouraging a culture of teamwork, adaptability and embracing change while delivering accurate and timely work.

Act as leader and SME of projects to deliver constant improvement in the Tax and Client Fees Teams and support other Operations projects as a subject matter expert and resource.

Issues should be identified as they arise and addressed pro-actively, challenging existing procedures and controls whilst working with cross-functional teams to implement operational improvements.

Be adaptable and enthusiastic to deliver successfully across all areas of responsibility.

Keep abreast of tax, regulatory, market and industry developments and assess implications for our activities.

Manage relationships with key internal and external service providers and stakeholders.


Line Manager Responsibilities

§  Manage the teams in a proactive, positive and responsible manner, while working with managers in other areas.

§  Proactively become the Tax Operations and Client fees SME and represent the team across the business.

§  Own relationships, both internally and externally with key vendors, suppliers and reporting bodies.

§  Act as line manager and point of escalations for areas of responsibility.

§  Work closely with equivalent managers in a positive and proactive manner.

§  Monitor end-to-end processes, manage issues, hand-offs and workarounds in conjunction with SLAs, processes and procedures.

§  Maintain oversight of third-party operations to ensure they are functioning to the expected quality and work closely with their respective teams to solve any escalated problems.

§  Contribute constructively to the development of the operations department by suggesting ideas for improving efficiency or process quality.

§  Be an enabler of change, accepting and promoting changes to procedures and departmental organisation.

Tax Team Key Responsibilities

§  Manage all UK, CI and Gibraltar operational tax activities (inc, QI, FATCA/CRS).

§  Responsible for delivering successful reporting campaigns in regards QI, FATCA and CRS.

§  Monitor the quality of the end to end processes and controls throughout the year, which have an impact on quality of reporting.

§  Completing all day to day activities accurately with controls in place to comply with relevant QI and AEOI legislation, regulations and guidelines.

§  Ensure all QI account holders (holders of US reportable stock) are fully documented with a valid and appropriate IRS tax form (W8 or W9).

§  Identify changes in circumstances affecting validity of QI/FATCA/CRS documentation

§  Ensure classifications are complete with documentation for QI, FATCA and CRS, liaising with the front office to obtain valid certifications updating client records accordingly.

§  Reconcile custodian and agent tax reports.

§  Ensure client’s US reportable stock holdings are held in the correct tax pools.

§  Maintain accurate tax reporting within deadlines or extensions as required.

§  Be aware of, manage and implement regulatory changes.

§  Assist with compliance reviews and implement recommendations.

§  Ensure compliance with agreed procedures.

Client Fees Team Key Responsibilities

§  Portfolio Amendments

§  Monitoring system maintenance changes for all portfolio mandates         

§  Control reports on fees

§  Operational checks for periodic reports

§  Production of dashboards

§  Portfolio fees

§  Invoices, VAT receipts, monthly reports for Finance

§  Phoenix process for fee amendments

§  Daily monitoring of dealing fees

§  Preparation of data for monthly Permanent Supervision reporting

Profile Required


§  Thorough understanding of the operational tax environment including QI, FATCA, CRS regimes and stamp duties, transaction taxes, withholding taxes and treaty relief.

§  Prior experience of actual reporting for QI, FATCA and CRS.

§  Understanding of the investment securities industry tariff and charging practices.

§  Strong direct people management experience in similar roles, including setting objectives, managing performance, delivering appraisals and acting as mentor.

§  Excellent problem solving and decision-making ability.

§  The ability to interact with business stakeholders to understand complex requirements.

§  Good communication, both in verbal and written skills.

§  Self-directed, with the ability to work independently, highly motivated and a positive can-do attitude are key. The candidate will be self-motivated to provide consistently strong results, addressing any challenges in a proactive manner. He or she should be keen to identify and resolve issues as they arise.

Education/Professional Qualifications required or desirable


At least 5 years industry experience

Why Join Us

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

Business Insight

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Job code: 20000IL3
Business unit: Kleinwort Hambros
Starting date: 19/10/2020
Date of publication: 10/09/2020
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Manager of Operational Tax and Client Fees

Permanent contract   |   Jersey   |   Other job functions