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Tax Assistant Manager - M&A, FS, London

Date: Jun 4, 2021

Location: London, United Kingdom

Company: KPMG UK

The Department

This specialised and growing department of professional staff provides M&A tax services to Financial Services clients across a range of major listed international groups, UK groups, overseas financial institutions and smaller owner-managed businesses. We advise companies throughout the financial services industry including banks, securities dealers, general and life insurers, funds and fund managers, as well as a growing base of Private Equity clients who are focused on the acquisition of financial services targets and assets.

The department focuses on the provision of high quality transactional advice to our clients, often as part of a wider transaction team across the advisory and tax practices. Our approach has as its foundation a thorough understanding of our client's business strategy as well as the industry in which they operate. This enables us to work in partnership with them and to provide tailored and robust tax solutions to support their corporate goals.

The Sector

In the Financial Sector M&A area, transaction/deal volume is increasing. There is a rapidly growing opportunity for involvement on a broader range of transactions within the FS space.
Recent trends in this market suggest:
• Major banks are continuing to divest non-core assets.
• Private equity houses are continuing to grow their presence in the FS sector in targeting acquisitions of distressed asset portfolios, non-core asset disposals, and strategic takeovers of FS growth platforms (such as asset management, loan portfolio platforms, and distribution platforms).
These factors point to a continued increase in transaction/deal activity and of significant opportunities to pursue.

Key Responsibilities

Delivering quality service

Individuals will to assist in the delivery of high quality service. They will be able to manage their own time, plan and organise work tasks, monitor progress and meet deadlines. Among other responsibilities the individual will:
• Perform detailed analysis of the tax numbers in the financial statements and other primary documents e.g. tax computations and returns.
• Collaborate with other UK and overseas tax teams to provide input into due diligence and structuring deliverables, critically analysing and challenging their input.
• Demonstrate up-to-date knowledge in respect of developments in the field of UK and international tax e.g BEPS, Corporate Interest Restriction, Anti-Hybrids, FX etc.
• Understand financial models and analyse underlying tax assumptions.
• Read and analyse due diligence reports, highlighting key topics and issues and drafting questions to a Vendor due diligence team.
• Prepare draft reports summarising findings for manager/SM’s review, including the use of visualised outputs (e.g. tables, charts, graphs, timelines etc.).
• Monitor work-in-progress and provide timely reports to senior members of the team to facilitate fee discussions.
Team work, coaching and developing people
Individuals will be key team members on larger, complex assignments as well as smaller transactions in which individuals will work closely with senior members and manage/assist more junior team members. The individual will:
• Coach and manage junior staff members (E-grades), providing constructive feedback when requested and liaising junior staff with senior team members.
• Manage the distribution and allocation of tasks upon discussion with a project manager. Monitor how the tasks are fulfilled.
• Perform initial review of the tasks performed by junior team members and KPMG Global Support function.
• Liaise with other work streams (transaction services, accounting, legal etc.) for effective delivery.
• Regularly provide on-the-job feedback to other team members of the team.

Interaction with counterparties to a transaction

Individuals will be required to build and sustain relationships with clients/potential clients and other counterparties for the benefit of the Firm. The individual will:
• Participate in conference calls and face-to-face meetings with targets’ management, clients and bidders, including assistance with preparing call agendas and Q&A registers, keeping and circulating minutes of the calls/meetings.
• Assist with preparation of the information request lists and subsequent maintenance of their status update. This also includes follow-up of the new information coming in, in particular via Virtual Data Rooms.
• Assist Partners and Directors in market research and preparation of pitch-packs and proposals.
• Attend networking and peer-to-peer knowledge sharing events to build and personal relationships.
Risk management
Individuals will be required to assist in the identification of and management of risks to ensure the Firm's frameworks are implemented. The individual will:
• Assist with preparation of the project files according to internal Risk Management requirements.
• Assist with engagement and client on-boarding.
• Assisting with project delivery, including drafting of hold-harmless and assumption of responsibility letters.

The Person

• Qualified CTA or ACA/CA or equivalent
• Strong interpersonal skills in addition to strong oral and written communication skills
• Ambitious, driven and a keen interest in M&A
• Proficient in the use of Microsoft Excel and PowerPoint
• Good UK corporate tax knowledge and an awareness of other tax and accounting areas
• High level analytical skills and a commercial approach to resolving issues and providing advice
• Ability to work as part of a team and to show initiative to drive projects forward
• Ability to manage own workload
• Ability to build and sustain client relationships

Job Segment: Tax, Assistant Manager, Accounting, Equity, Risk Management, Finance, Management