Exchange of Information Lead Specialist

Purpose of Job

Jobholders at this level are experienced professionals capable of conducting work with general directions. They are primarily concerned with developing solutions to challenges which require some analysis to understand and resolve, and addressing issues escalated from junior levels. They undertake complex operational activities including administering agreements, conducting awareness sessions on EOI regulations, performing analysis of complex requests, drafting replies, conducting risk assessments, issuing warnings and fines on non-compliant financial institutions and MNEs, and reporting on discussions of EOI meetings.

Job Responsibilities

Exchange of Information Planning and Enablement

• Stay up to date with all developments related to tax related exchange of information (EOI)
• Develop domestic tax and customs regulations and enforcement provisions that enable effective sourcing of information
• Develop needed procedures and protocols to address various taxpayers’ queries in relation to international tax matters
• Follow all new national and international taxes and zakat laws and regulations and recommend improvements to existing legislative provisions
• Administer agreements to ensure that actions are proceeding according to terms
• Implement effective exchange of information for tax purposes with foreign countries across all the relevant regimes
• Support management in improving and updating international relations’ strategy and reflect changes accordingly
• Advise on the monitoring of the cooperation with relevant governmental bodies
• Coordinate with other members of the Global Forum Steering Group to ensure all international operations and activities comply with signed treaties or agreements and to ensure the accomplishment and fulfilment of KSA memberships’ obligations
• Conduct awareness sessions on EOI regulations for internal stakeholders and financial institutions subject to EOI regulations
  
  
  

Exchange of Requests

• Receive requests from regional and international entities, log into database, and liaise with relevant stakeholders to verify collected information (i.e., competent authority and legal base)
• Analyze requests and request additional information (if required)
• Prepare needed information replies related to the tax and customs agreements, translate if required, and provide final replies to requesting entities
• Follow-up on communication with requesting entities and update database for tracking purposes
  
  
  

Automatic Exchange of Information (FATCA, CRS, CBC, ETR)

• Review and approve the financial institutions and multi-national enterprises’ (MNEs) registration requests
• Coordinate with IT & Digitization function to resolve registration technical issues faced by financial institutions and MNEs
• Analyze reports submitted by financial institutions and MNEs, identify issues, and provide adequate recommendations in coordination with relevant stakeholders
• Align with regulatory bodies (i.e., SAMA, CMA) to request financial institutions and MNEs answers to surveys for due diligence purposes
• Conduct assessment on the financial data received from exchanging partners
• Conduct risk assessment to identify financial institutions and MNEs that should be subject to desk-based and filed-based due diligence assessment
• Conduct an accurate desk-based due diligence assessment identified from risk assessment
• Conduct an accurate field-based due diligence assessment identified from risk assessment
• Develop reports stating findings identified during desk and field due diligence assessments
• Issues warnings and fines on financial institutions and MNEs that fail to meet the EOI laws and regulations
• Follow-up with financial institutions and MNEs to ensure correction of information identified during the due diligence process and by jurisdictions with whom the information was exchanged
  
  
  

Job Details

Communication and Contacs

Education

Bachelor’s degree in Business Administration, Accounting and Finance or equivalent is required

Experience

A minimum of 4 years of relevant experience

Competencies

Tax and Customs Treaties - Proficient

Collaboration and Communication - Developing

Professionalism - Proficient

Coaching and Internal Business Consulting - Proficient

Building Strategic Partnerships - Proficient

Results Oriented - Proficient

Risk Assessment and Management - Advanced

Customer Focus - Proficient

Knowledge of Rules and Regulations and Taxation and Customs - Advanced

Enablement of Change and Innovation - Developing

Negotiation and Influence - Proficient