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Tax Senior Manager - FS Insurance, London

Date: Jul 31, 2021

Location: London, United Kingdom

Company: KPMG UK

Roles and Responsibilities

KPMG’s Insurance tax team, part of the wider FS tax team, is a group of around twenty tax professionals of all grades, including three partners and three directors. The team is spread across three sites – London, Bristol and Edinburgh. The team works as a national team and location does not dictate client allocation.

Our business covers the full gamut of insurance clients, including major UK-based insurers, international insurance groups, life insurers, pension product and other specialist providers, and brokers.

The core insurance team provides mainly corporate tax advisory and M&A services, and facilitates the provision of corporate tax compliance services, as well as tax advisory services covering the full range of non-corporate taxes. We are generally the main point of contact for the client for all taxes.

The extent of change affecting the Insurance sector has raised enormous opportunities and significant challenges for KPMG.

Regulatory, reporting and legislative change, as well as changes in the underlying market climate (appetite to claim, claimant fraud, risk profile change, technology impact) are driving insurance companies to embrace transformational change both to internal systems and to client facing products and operations. There are significant opportunities around these changes, often not tax driven, but which have tax impact where we can contribute positively for our clients.

The situation is complicated by EU audit reform, meaning that market share growth opportunities, are significant.

We are therefore looking for capable, enthusiastic professionals with experience of the insurance market, and of corporate tax for insurance groups. To be credible at a senior level, our staff must have in-depth knowledge of the insurance sector and the challenges it faces, not just a strong tax background.

The Senior Tax Manager role involves leading the delivery of corporate tax and M&A sales relating to insurance clients. Work can involve general insurance, life assurance, brokerage and Lloyds clients, and may involve any aspect of corporate tax, including product taxes, and wider cross-discipline projects.

In addition to delivery, the role will include building client relationships as part of wider client service teams and embedding tax into opportunities where relevant, as well as taking tax propositions to clients.

Another key aspect of the role is to be a role model in terms of knowledge sharing and coaching staff so that they build their insurance specialism and we have a team ready to meet market demand.

The successful candidate should have a strong desire to be a dynamic part of an active insurance tax team and have the capability to progress to director within two years and lead a local FS tax team.

Qualifications and Skills

Chartered Tax and/or Chartered Accountancy and/or equivalent legal/HMRC/international qualification is essential.

Experience and Background

The successful candidate should be able to demonstrate:

· Deep technical knowledge and experience in relation to insurance groups, including experience in all or some of the following fields: life insurance tax, general insurance tax, tax for Lloyds groups, and tax for insurance brokers

· In-depth knowledge and experience of the issues faced by the insurance sector – either or both of life and general insurance

· Possession of sound judgement, including the ability to identify and evaluate risk issues, and knowing when to involve others

· Pro-active in identifying and progressing business opportunities for the long term benefit of the business

· A track record of leading large, complex, high intensity projects, with a focus on accountability, high quality and timely delivery

· Ability to communicate effectively at all levels (internally and externally) and be a team player; strong interpersonal skills are required in addition to strong oral and written communication skills with an ability to build and motivate teams

· High level analytical skills and a commercial approach to resolving issues and providing advice; ability to apply knowledge of fundamental tax principles in identifying potential technical issues and opportunities

· Adaptability and dynamism

· Ability to multi-task and be organised

· Desire to coach and develop more junior members of the team in order to build specialisms rapidly and respond to market demand

· An excellent desire to gain and continually improve his/her knowledge of the insurance market, insurance products, and insurance-related taxes

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