Sumitomo Mitsui Banking Corporation – SMBC Group
Location
Mumbai | India
Job description
COMPANY OVERVIEW Headquartered in Tokyo, SMBC is one of the largest Japanese banks by assets (with over 238,700 billion in total assets), with strong credit ratings across the globe. The bank offers personal, corporate and investment banking services to their customer network that extends across 39 countries and regions, 15 of which are in Asia. The Asia-Pacific regional headquarter, established in 2008, is based in Singapore. The bank’s presence in India was established in New Delhi in December 2012, in Mumbai in March 2017 and Chennai in November 2020. In India, SMBC concentrates on Wholesale Banking with a strong client base and coverage of global and local conglomerates and corporates. Its strong financials and worldwide operations provide clients with global solutions that makes SMBC the leading choice for businesses expanding around the globe, particularly in Asia.
OUR VALUES Integrity | Customer First | Proactive & Innovative | Speed & Quality | Team“SMBC Group” URL: and JOB DESCRIPTION Purpose of the position Incumbent is expected to provide inputs and take actions considering overall long-term growth and future of SMBC India. Lead strategic initiatives, provide regular updates and inputs for management decision making Responsible for Financial statement finalisation and audit Oversee Direct and Indirect tax compliances Manage Head office reporting Manage daily control activities Process betterments/refinements in the existing processes/ Knowledge sharing/ process backups. Effective resource management and staff development Scope and Dimension Candidate will be reporting to Head of Accounting and Taxation (sub-Section) within FAD Geographical coverage: All branches of SMBC India, regional co-ordination Functional coverage: Team handling role, managing the sub-section of Accounting and Taxation Stakeholder management, including maintaining cordial relationship with internal stakeholders, Head office/ regional office counterparts Responsible for Financial statement preparation and audits Assist in managing direct/ indirect tax compliances, liaising with tax office and external consultants Participate in strategic initiatives of the Bank and handle projects Efficient contribution in process betterments/refinements in the existing processes Knowledge sharing /create back-ups Demonstrate leadership skills Build strong networking within banking fraternity, industry bodies and regulators Main interfaces / relationships: Effective and efficient liaison with internal teams, regional and Matrix stakeholders including senior management members, department heads, etc. Challenges: Adaptability to working in cross cultural environment Keep oneself constantly updated with changes in Taxation and Accounting, understanding its impact on the organisation and taking proactive actions Project and change management Manage the data quality, with strict adherence to deadlines Team handling Job Responsibilities Financial Reporting · Responsible for preparation and review of Financial Statements · Manage audits/ external reviews like statutory audit, concurrent audit, review by regulators etc · Supervise and be responsible for preparation and submission of HO related reports. · Manage and be responsible for other activities for the Financial Accounting team, including management of daily controls, project management, new product evaluation etc Direct Tax compliance · Manage and mitigate overall tax risk for the Bank in India · Manage direct tax compliances with local regulators / head office including tax payments, filing of returns, assessments, handling tax notices etc including liaising with external consultants · Responsible for corporate tax and transfer pricing documentation/ submissions including handling litigations. · Responsible for Advance Pricing Agreement compliance and renewal. · Guide other members from his team and other departments on queries related to Withholding Tax, Corporate Tax, Transfer Pricing and Advance Pricing Agreement related o · Advise on efficient tax planning and on new products from a tax perspective. Indirect tax compliance · Supervise and be responsible for monthly/ annual GST returns and related payments. · Liaise with Tax office for routine matters or litigations, as may be required · Manage and maintain efficient support from external consultants · Manage internal/ external queries on indirect taxes Others · Build strong networking within banking fraternity and regulators · Participate in strategic initiatives and lead bank level projects · Appointments of Auditors in adherence with RBI guidelines and internal rules · Manage effective relationship with Head office/ regional office counterparts · Develop an overall view of Bank’s operations and participate in overall growth/ development of Bank in India. · Knowledge sharing · Motivate, train and develop staff Maintaining strong risk management culture Experience & Qualifications (a) Knowledge –Indian tax laws and accounting principles (b) Skills – Strong Communication and analytical skills, excellent negotiation skills, project management and decision-making abilities Strong Interpersonal skills as dependency outside team for data. (c) Experience – 12+ years of experience, preferably in Banking/ Financial services, Foreign/India Banks, understanding of Bank Financial statements and products, experience of team handling and working in a cross-cultural environment, exposure to Direct taxation and international Transfer pricing. (d) Qualifications - CA and/or higher equivalent qualification in Accounting / Taxation. CFA, and/ or Diploma in IFRS/IND-ASJob tags
Salary
