Position Description
Part A - Role Specification
Role Title: Commercial Manager Transaction Tax Level: Department: Investments
Position Statement (succinct statement of why the position exists) 1* The role is designed to lead the direct investment tax structuring process as part of the Investments Commercial team. It will involve substantial interaction with the Property and Infrastructure teams, the broader Commercial team and the Investment tax function. The role will report to the Senior Manager, Commercial.
Key Duties (what is done, how it is achieved and what the end result is) Lead the tax due diligence process for both direct and indirect investments at acquisition, merger (if applicable) during the holding phase and at disposal (including the unwinding of structures). This will involve working closely with the Investment Tax function and Portfolio Managers, primarily Property and Infrastructure, to identify the preferred tax structure.
As part of the deal team for each new investment, work with colleagues in the Commercial team to ensure transaction documentation reflects the structure identified.
Ensure proposed investments comply with Australian and International tax law and meet all requirements of the Fund’s tax risk policy. This will involve obtaining relevant approvals from the Group tax function, external advisers, Senior Management and Committees (if relevant).
Ensure all tax related issues at completion, during the holding period and at exit are identified and communicated to all affected parties (including the Investment Tax team) so appropriate compliance programs can be implemented.
Assist in the selection of external tax advisers, assess adviser performance and determine the optimal service model for each investment (from a tax perspective) in consultation with colleagues.
Identify preferred models/structures in advance of the Fund making investments domestically and in foreign jurisdictions (for direct investments). In addition, develop procedures/templates to assist with future investments.
Ensure the tax aspects of the asset manual for each direct investment is completed in a timely and accurate manner.
Provide assistance on various Investment Tax projects and Investment Operations projects in general.
Provide assistance to the internal Investment Managers on day to day queries on investments and potential investments.
Keep tax policy and procedure documents up to date.
Contribute to the ongoing development of the Tax Strategy.
Assist other members in the Investment Operations team as required. In between transaction related work the appointee will assist with other tax related matters.
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Page 1 of 3 Quantitative Data (e.g. Number of Staff) 1* Staff (direct reports): 1 initially, building out a team over time. 2* Budget: determined on a transaction by transaction basis.
Delegations, Authority Levels, and Decision Making (including decisions made by incumbent as well as referrals to higher authority) Financial Delegation: recommending fees to be paid to external parties. Briefing of external advisors for undertaking tax advisory assignments.
Part B - Person Specification
Qualifications (indicate whether mandatory or desired) Mandatory Advanced understanding of taxation legislation in relation to investment markets and securities; Advanced analytical skills and ability to persist with tasks that require a high attention to detail; Extensive experience with the tax structuring of direct unlisted investments within a superannuation or funds management environment, particularly across multiple jurisdictions; Decisive, has sound judgment and present their arguments in written and verbal form; Understanding of accounting and taxation principles; Ability to form strong working relationships with internal and external stakeholders; and Tertiary qualifications in Business, Accounting disciplines or Tax Law;
Desired Experience Profile: Experience with the preparation of reports, undertaking analysis of information and drawing of conclusions Self-starter and comfortable working in a small team where direct involvement in tasks is required. Has developed the capability to know when to consult with colleagues and their manager Knowledge of superannuation funds’ taxation requirements
Part C – Required Competencies
Competencies Profile (See Competency Dictionary for details)
Competency Required Level (Developing/Effective/Strength)
Shapes member experience Effective
Technical competence Strength
Business and industry awareness Strength
Relationship–building and partnering Strength
Embracing challenge Strength
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Page 2 of 3 Informed and decisive judgement Strength
Results delivery Strength
Clarifying direction Strength
Part D – Additional Information
Additional Information Key challenges for the incumbent of this role include: 1* Balancing the competing demands made on time 2* Keeping abreast of rapidly changing market trends and industry developments/legislative developments and responding proactively. Identifying the systems and processes that will be required for a rapidly growing fund that is seeking to be seen as an industry leader. Developing appropriate systems and processes from scratch. The role is located at Level 33, 50 Lonsdale Street The AustralianSuper is an Equal Opportunity Employer. In the context of Occupational Health and Safety policies, procedures, training, and instruction, employees are responsible for ensuring that they: o Follow reasonable instruction; o Cooperate with their employer; and o At all times, take reasonable care for the safety of others in the Workplace.
This description is indicative of the range of job requirements and accurately reflects the requirements of the role at the time of writing. Due to the nature of the work environment changes may occur to this role over time. The job comprises other duties as required.
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