BNY Mellon Careers

Senior Specialist, Global Tax Advisory

Milano, Italy
Asset Servicing


Job Description

Job Purpose:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. Additional information is available at www.bnymellon.com.
BNY Mellon's Asset Servicing business is dedicated to dynamically supporting our clients' investments and safeguarding their assets, keeping them working around the clock and across the world. It's part of our commitment to being a true partner for our clients' investment success. We specialize in operational solutions and capabilities for today's market-enhancing the management and administration of investments with services that process, monitor and measure investment data from around the world. By leveraging BNY Mellon's global footprint and deep expertise, we deliver insight driven solutions for every phase of investing.

Responsibilities:

The Global Tax & Regulatory Product Management team focuses on tax strategy, development & enhancement of tax services, tax risk management, market presence, client facing tax support and leveraging tax expertise across BNY Mellon´s Asset Servicing globally.
The key component for this particular role is the custody tax knowledge and background for the Italian market. This position will report to the Head of Tax Services for direct markets and will cover all programs and activities influencing custody and securities in the Italian market where tax is concerned. This includes amongst other topics especially:
Tax withholding in the Italian market (tax technical guidance to tax operations) and tax reporting to the Italian tax authorities (monthly withholding tax filings, Modello 770 and SOGEI reporting)
Monitoring of BNY Mellon´s Italian tax service provider
Monitoring of any tax changes in the Italian market and ensuring that the tax changes get implemented within the given deadlines
Italian Financial Transaction Taxes (FTTs),
Guidance on US FATCA for the Italian business,
Guidance on Common Reporting Standard (CRS) for the Italian business
Guidance on Base Erosion and Profit Shifting (BEPS) for the Italian business
Guidance on DAC 6 and
Cross-border withholding tax relief based on double taxation agreements, European Court of Justice claims or tax exemptions provided by local law.

The role also covers the management of tax audits and other tax related requests by the Italian tax authorities. And also the identification, the design and the implementation of process improvements for effective tax processing/reporting/planning under Italian law. Participation in tax working group meetings of industry associations in Italy is also part of the new role as well as attending meetings with clients and speaking on tax conferences.

Qualifications

Preferably qualification as a tax advisor and / or tax lawyer in Italy
Extensive tax experience in the Asset Servicing Business (domestic and foreign withholding taxes, systems of global exchange of tax related information, financial transaction taxes, taxation of investment funds) obtained through significant amount of experience gained at an Italian custody bank, financial service provider or investment fund company.
Custody tax knowledge in other markets would be beneficial
Strong analytical and managerial skills.
Strong oral and written communication skills.
Fluent speaker (Italian) and professional skills of the English language
Availability to travel is required


BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Italy-Milano-Milano
Job: Asset Servicing
Internal Jobcode: 70211
Organization: AS Product Capabilities-HR12791
Requisition Number: 1912808