Head of Financial Controls & VAT
Senior, managerial role managing and developing a newly created VAT team
Must have 10-15 years of experience in VAT in the banking sector
About Our Client
Our client is a top bank in the UAE with a growing international presence. They are well known in the market for their high retention and stability.
Responsibilities include but are not limited to:
- Ensure implementation and monitoring of VAT and Tax strategy, policies and procedures for accounting, compliance and audit to meet the regulatory requirements.
- Provide advisory services to the bank's international offices on tax related matters in order to support and avoid any legal or financial penalties.
- Liaise efficiently and effectively with Tax authorities and government bodies to ensure inspections and audits are successful closed with good ratings.
- Participate in Product Development Forums/Committees/Meetings to ensure the bank and subsidiaries achieve VAT and Tax compliance.
- Ensure VAT and Tax returns are filed promptly and on timely basis in order to meet the regulatory requirement to avoid any penalties and reputational damage.
- Detect and assess VAT and Tax issues and risks to ensure month end processes and reports are actioned on timely basis.
- Identify potential tax savings opportunities by maximizing work efficiency and reporting systems to reduce VAT and Tax where possible, within the legislative framework.
- Ensure comprehensive tax consultation and trainings are provided to keep internal stakeholders abreast of all VAT and TAX related laws and regulations.
- Ensure Reconciliation of VAT and Tax returns and necessary MIS reports on the VAT and Tax activities are prepared and maintained as per the policies and procedures of the department.
- Ensure compliance with the approved policies, procedures, SLAs and regulatory requirements to maintain quality standards and ensure risk mitigation.
- Ensure all assigned tasks and projects are executed within the approved policies, procedures and SLAs of the department.
- Incorporate and comply with the bank's core values especially the customer first in your day today activities.
The Successful Applicant
Candidates that will be seriously considered for the Head of Financial Controls & VAT role will have the following minimum qualifications:
- Must have the relevant professional qualifications (i.e. ACCA, ACA, etc.) and minimum of a Bachelor's degree
- 10+ years of direct experience in VAT execution/processing & reporting
- Managerial experience required
- Candidates currently based in Dubai or Abu Dhabi preferred, but open to candidates with the relevant experience seriously looking to relocate to Dubai
- Open to considering Big 4 candidates with banking client portfolios
What's on Offer
- Strong total compensation package and benefits offered
- Strong internal development potential as the bank is going through considerable growth as this time