Managing Director

The Investment Tax team oversees the organization’s tax strategy and integrating awareness of tax risks into investment and business decision-making. Although CPPIB is exempt from income tax in Canada, it is subject to a wide variety of foreign taxes on investment returns and operations.

The Investment Tax team, in partnership with the Enterprise Tax team, guides CPPIB through the increasingly complex and evolving maze of international tax rules to maximize portfolio value by ensuring that investment and business decisions are made on a tax-informed basis. Collectively, the Tax group oversees CPPIB’s international tax related strategy, risk management, investment support and compliance.

Located in our Toronto office, the Managing Director, Investment Tax is a key partner to CPPIB’s investment departments and is responsible for providing tax support to the investment and non-investment departments investing in Canada and US (excluding capital markets). In partnership with the Enterprise Tax team, the Managing Director is also responsible for tax issues associated with CPPIB’s operations in Canada and the US. The role includes investment structuring support, managing, and reporting on tax risk, executing on strategic initiatives, and nurturing relationships with internal partners, local advisors, government officials and industry peers in Canada and the US.

Role-Specific Accountabilities:

1. Tax Support to Investment Departments investing in Canada and the US:

• Proactively identify best-in-class tax advisors to support the specific needs of investment teams investing across Canada and the US. On-board advisors, develop relationships, provide feedback and monitor performance to ensure advisors deliver to CPPIB’s service and value expectations.
• Maintain CPPIB’s institutional tax knowledge for Canada and the US (excluding capital markets).
• Monitor for changes of tax law or administrative practice and communicate these changes to stakeholders within CPPIB as well as work collaboratively to address structuring and operational requirements from changes of tax law / practice.
• Deliver early-stage tax support as investment teams explore viability of new opportunities or dispositions. In anticipation of investing into new jurisdictions, do preparatory work with external advisors to determine the availability of certain tax privileges, understanding structuring alternatives as well as CPPIB’s tax competitiveness in that jurisdiction.
• Provide support to investment teams in complex situations to ensure tax costs, risks and opportunities are well understood, monitor the quality of final technical opinions and tax ruling submissions and, if necessary, get involved to resolve service issues with advisors.
• Ensure the on-going tax management requirements for investments across Canada and the US meet CPPIB’s standards, working with internal and external partners. Identify areas for improvement and recommend pragmatic solutions
• Maintain post-closing internal documentation of investment structures and update for changes in law
• Strategic review of CPPIB’s tax filings in Canada and the US, including identifying required filings with support from the Enterprise Tax team.
• Identify and record key tax positions taken on investments in Canada and the US in order to monitor and report on key tax risks in the portfolio.
• Determine CPPIB’s exit tax position for investments in Canada and the US for the purposes of recording deferred tax on investments. Monitor and update these positions for changes of law or changes in expected exit strategy.
• As necessary, provide similar support to other regions to ensure that global tax support provided to CPPIB is balanced amongst competing priorities.

2. Broader support across tax risk and tax strategy:

• Monitor for changes in tax law or administrative practice impacting CPPIB’s operations in Canada and the US and communicate changes to stakeholders within CPPIB and work collaboratively with internal partners to address operational change /considerations
• Collaborate with other departments to ensure the on-going tax management of CPPIB’s operations across Canada and the US meets CPPIB’s standards; identify areas for improvement and recommend pragmatic solutions
• Suggest changes to CPPIB’s internal polices/guidelines from a tax and / operations perspective to ensure they are kept current and relevant given the evolving nature of CPPIB’s activities in Canada and the US
• Support the Investment Tax group’s work with CPPIB’s public affairs department to advance tax strategy initiatives in Canada and the US
• Maintain constructive relationships with tax departments of peer organizations
• Build and deliver a renewable program of core training for investment professionals and other departments investing in Canada and the US to increase their tax awareness and enable them to effectively understand tax issues relevant to their investments and activities
• Contribute to tax risk reporting to the Board, senior management, and various internal stakeholders, as related to Canada and the US
• Assist in various special projects and initiatives.

3. Build and maintain strong cross-functional relationships:

• Exhibit the confidence and professionalism to work effectively with colleagues across the organization
• Build the trust of the investment departments and core services teams that are directly supported
• Develop, maintain and manage relationships with key individuals across Finance, Operations, Legal, Public Affairs and Communications, and other Core Services groups
• Collaborate within the Investment Tax and Enterprise Tax teams to leverage team knowledge and experience and deliver reports to senior management on tax issues, risks and opportunities across product lines and geographies
• Promote collaboration and issue resolution within and across teams

Requirements

• Significant international and/or mergers and acquisitions tax experience
• A Chartered Accountant (CA) or CPA designation, a law degree or comparable professional credentials
• Demonstrated writing skills, strong analytical skills, creativity in written materials and strong oral presentation skills
• A demonstrated ability to think broadly about tax information, think through problems, assess a variety of factors and recommend solutions
• An ability to adapt communications style based on the audience, proven skill to synthesize complex technical concepts into plain language for non-specialist audiences
• Strong organizational/project management skills, and an ability to efficiently progress multiple assignments
• Excellent attention to detail and consistently high levels of accuracy
• Demonstrated personal initiative, striving to innovate and build best practices but is highly attuned to the need for pragmatic solutions
• Strong impact and influencing skills; ability to influence people with personal style and finesse rather than authority
• A continuous learning mindset with a desire to stay on top of business trends and tax technical changes
• Flexibility, being able to work with light supervision and adapt to change
• Exemplification of CPPIB’s Guiding Principles of integrity, high performance, and partnership
• Experience in the private investment industry would be an asset