Tax & Retirement Fund Specialist
- Bellville, Cape Town
- Permanent
- Full-time
Reference Number MMH250901-8
Job Title Tax & Retirement Fund Specialist
Position Type Permanent
Role Family Client Services
Cluster Metropolitan Life
Remote Opportunity Some of the time
Location - Country South Africa
Location - Province Western Cape
Location - Town / City Bellville
IntroductionMetropolitan is one of the oldest financial services brands in South Africa. With a 125-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security. Metropolitan operates in South Africa, but the brand is also present in 7 African countries including, Namibia, Botswana, Kenya, Ghana and Lesotho. Metropolitan provides financial wellness solutions that meet the needs of low-income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance. www.metropolitan.co.za
Disclaimer As an applicant, please verify the legitimacy of this job advert on our company career page.
Role PurposeResponsible for all administrative processes with regards to PAYE as per the current Income Tax Act on all conventional and living annuity payments as well as lump-sum payments on fund policies for Metropolitan Retail. Provide tax and fund legislation support to Service and Sales Channels. Also responsible for IT3(f and s) and IT3 (b) file reconciliation and submissions to SARS.
Requirements
- Matric / Grade 12 with Maths and/or Accountancy
- 1-2 year diploma/NQF level 4 in taxation or accounting or at least 3 years financial qualification with Tax as main subject
- 3-4 years experience in a tax administration environment
- Knowledge of the Financial Services Industry legislation (e.g. the Long Term Insurance Act, Pension Fund Act or Income Tax act)
- Excellence in MS Office, especially EXCEL
- Must be able to work in an EXTREME PRESSURE environment
- Must have a vast knowledge of Retirement FUNDS
- Conduct monthly audits on annuity and lump sum payments to ensure accurate PAYE deductions in line with current tax tables.
- Administer monthly PAYE payments to SARS, including monthly reconciliations, annual reconciliations, and issuing of IRP5 certificates in accordance with the latest SARS specifications.
- Ensure Metropolitan meets all SARS deadlines to avoid penalties and interest, and that all payments and tax files (PAYE, IT3B/F/S CSVs) comply with the latest tax regulations.
- Submit Recognition of Transfer documents electronically each month on behalf of Enrolment for internal reinvestments.
- Perform daily and weekly reviews of Metropolitan’s bank statements to identify and process IT88 payments to SARS on time.
- Assist with tax-related queries from both internal and external clients, including SARS.
- Support management and trustees with ad hoc projects and tax data extracts.
- Support Annuity team, as and when required.
- Provide authoritative, expertise and advice to clients and stakeholders in respect of all tax directive changes and complex matters.
- Build and maintain relationships with clients and internal and external stakeholders, eg. ebTax, Group Tax and SARS.
- Assist Sales Channel with complex transfers to ensure that new single premium fund business is tax compliant.
- Define service practices that build rewarding relationships, encourage innovation and allow others to provide exceptional client service.
- Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed.
- Make recommendations to improve client service and fair treatment of clients within the area of responsibility.
- Participate and contribute to a culture that builds rewarding relationships, facilitates feedback and provides exceptional client service.
- Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.
- Continuously develop own expertise in terms of tax, industry and subject matter development and application thereof in an area of specialisation.
- Positively influence and manage change and offer specialist support where required.
- Participate and contribute to a culture of work-centric thinking, productivity, service delivery and quality management.
- Take ownership for driving own career development
- Implement and provide input into tax processes, systems and legislation within the area of specialisation.
- Escalate unresolved policy and governance compliance issues via appropriate channels for investigation and resolution purposes
- Provide input into the risk identification processes development and communicate recommendations in the appropriate forum.
- Business Acumen
- Client/ Stakeholder Commitment
- Drive for Results
- Leads Change and Innovation
- Motivating and Inspiring Team
- Collaboration
- Impact and Influence
- Self-Awareness and Insight
- Diversity and Inclusiveness
- Growing Talent