Enable America Jobs

Sr. Manager, Indirect Tax

Date: May 6, 2024

Req ID: 3301

Location:

Somerset, NJ, US, 08873

Company: Terumo Americas Holding, Inc.

Department: TAH Tax

Terumo Medical Corporation (TMC) develops, manufactures, and markets a complete, solutions-based portfolio of high-quality medical devices used in a broad range of applications for numerous areas of the healthcare industry. TMC places a premium on providing customers with world-class products, training and education programs that drive clear economic value, better clinical outcomes and improved quality of life for patients. TMC is part of Tokyo-based Terumo Corporation; one of the world’s leading medical device manufacturers with $5+ billion in sales, 20,000+ employees worldwide and operations in more than 160 nations. Terumo Medical Corporation is comprised of two strategic business divisions: Terumo Interventional Systems and Terumo Medical Products.

Job Summary

The Senior Manager-Indirect Tax will collaborate closely with the Senior Tax Director of Terumo Americas Holding (TAH) and its subsidiaries to oversee the preparation of various tax returns, including State & Local Sales & Use Tax (SUT), Canadian & Local VAT (CAD VAT), Abandoned Unclaimed Property (AUP), Business Registration & Licenses, Personal Property Tax (PPT), and Real Property Tax (RPT). They will be responsible for managing internal processes to handle Indirect Tax (IDT) audits conducted by multiple taxing jurisdictions. Additionally, they will stay updated on the SUT/CAD VAT rules within the medical device industry for multiple jurisdictions. This individual will establish corporate-wide policies and procedures to ensure compliance with multiple US, Canadian, and Puerto Rican jurisdictions for TAH Subsidiaries.

Furthermore, they will collaborate with various subsidiary accounting teams and the SAP Center of Excellence (COE) implementation team to develop, deploy, and support solutions in SAP S/4HANA, Ariba, and OneSource for the indirect tax team. They will play a critical role in supporting the maintenance of solutions for SAP S/4HANA/Ariba/OneSource within the operating subsidiaries and the holding company for Terumo in North and South America. This includes addressing VAT and other local tax compliance issues by streamlining the overall IDT process and procedures for TAH Subsidiaries. They will enhance the use and functionality of OneSource IDT Software and SAP S4/HANA to ensure efficient and effective tax compliance management.

Job Details/Responsibilities

Compliance:

• Lead and supervise the preparation and review of various Indirect Tax (IDT) returns, including State & Local Sales & Use Tax (SUT), Canadian & Local VAT (CAD VAT), Abandoned Unclaimed Property (AUP), Business Registration & Licenses, Personal Property Tax (PPT), and Real Property Tax (RPT).

• Collaborate with all operating companies to ensure accurate filing jurisdictions (Nexus) are identified and maintained.

• Collaborate with product managers to gain insights into current and future products, facilitating thorough research and maintenance of taxability matrices, and assigning material group numbers accordingly.

• Engage directly with Accounts Receivable (A/R), Accounts Payable (A/P), and Business Unit Controllers to ascertain the correct tax status of customer purchases, evaluate the taxability of company purchases, and handle other direct marketing products/samples tax-related issues.

• Manage the process for maintaining and updating jurisdictional exemption certificates in the OneSource Tax Certificate Manager to ensure ongoing compliance with regulatory requirements.

• Ensure strict adherence to policies, standards, and procedures to maintain consistency and compliance with tax laws and regulations.

Systems:

• Assist the SAP Center of Excellence (COE) and Indirect Tax team in monitoring, testing, and other associated tasks concerning "SAP Finance and Taxation processes" to ensure effective control over changes necessary for compliance or legal requirements.

• Support the SAP COE in testing and validating efforts linked to the implementation of new SAP entities, maintenance of taxability product matrices, monitoring, and implementing tax rate changes, as well as testing these changes in the system as needed.

• Address User Help Desk inquiries concerning system taxability for Terumo products and handle customer complaints related to taxability issues promptly and efficiently.

• Offer functional advisory support for ad hoc tax reporting and system automation compliance initiatives in TAH subsidiaries, aiding managerial decision-making processes, including VAT tax and other local indirect tax matters.

• Provide assistance in SAP Integration, encompassing both Input and Output Tax integration with ONESOURCE Indirect Tax Determination Integration.

• Take responsibility for documenting and maintaining procedures related to Indirect Tax Determination, ensuring clarity and consistency in processes across the organization.

Job Responsibilities (continued)

Advice on Taxes:

• Assume leadership in Indirect Tax (IDT) matters to guarantee compliance, encompassing:

• Conducting Nexus Research to determine tax obligations in various jurisdictions.

• Managing the Product Taxability Matrix and assigning material groups accordingly.

• Overseeing the Purchase Taxability Matrix and assigning commodity codes as necessary.

• Maintaining the OneSource Goods Movement Module to accurately calculate Sales and Use Tax (SUT) on inventory movements related to Research and Development (R&D), samples, and promotional goods.

• Review and uphold documentation to succinctly summarize research findings, document positions taken, and record decisions made for future reference and compliance purposes.

Audits:

• Lead the management of jurisdictional audits, ensuring comprehensive coverage and adherence to regulatory requirements.

• Vigorously defend the company's position during audits, employing strategic approaches to protect against potential liabilities.

• Initiate and oversee reverse audits, proactively identifying and rectifying any potential issues or discrepancies.

• Maintain meticulous documentation throughout the audit process, ensuring thorough records are available for reference and compliance purposes.

Policy and Procedure:

• Collaborate with all operating companies to develop comprehensive written procedures and best practices for the appropriate management of various taxes, including Sales & Use Taxes, Abandoned Unclaimed Property Taxes, Canadian VAT, Personal Property Taxes, and other applicable tax types.

• Partner with the internal audit team to establish robust internal control documentation and recommend testing protocols to ensure adherence to regulatory requirements and mitigate potential risks.

• Keep the Senior Tax Director apprised of all Indirect Tax (IDT) exposures and proactively identify opportunities for tax savings.

• Serve as the primary point of contact for customers regarding Sales and Use Tax (SUT) refund claims and address any other customer-related issues promptly and effectively.

• Take responsibility for managing and nurturing the professional growth of staff members within the tax department.

• Perform other job-related duties as assigned.

Working Conditions/Physical Requirements

Knowledge, Skills and Abilities (KSA)

• Leadership capabilities to effectively manage, train, and develop a team within the indirect tax function.

• Exceptional written and oral communication skills to articulate complex tax concepts and strategies.

• Strong interpersonal skills to collaborate with accounting managers and staff across Group Companies, fostering cooperation and alignment.

• Extensive expertise in Indirect Tax (IDT) to accurately identify tax exposures and implement procedures to minimize the company’s IDT burden in accordance with relevant laws and regulations.

• Proven ability to multitask efficiently in a fast-paced environment, prioritizing tasks effectively to meet deadlines and objectives.

• Capacity to work independently, taking ownership of tasks and projects to drive them to completion.

• Proficiency in engaging with external tax consultants and advisors, effectively leveraging their expertise to support tax compliance and strategic initiatives.

• Willingness and ability to work overtime when necessary to complete special projects, audits, and compliance activities, ensuring thoroughness and accuracy.

• Extensive knowledge of SAP S4HANA, Ariba, and ERP Finance and Controlling processes, particularly in relation to taxation

• Administrator-level proficiency with OneSource IDT Global Tax Software is required.

• Proficiency with tax research software such as BNA and CCH is essential.

• Advanced skills in Microsoft Excel, Word, PowerPoint, and Outlook.

• Ability to establish relationships and work effectively in a matrix organization structure

Qualifications/ Background Experiences

• Bachelor’s in Finance or Accounting required with a minimum of 10 years of managerial and accounting experience including minimum 3 years tax engine maintenance required or an equivalent combination of education, relevant experience and training

• Master’s in Taxation preferred, CPA preferred

• Strong preference for a mix of experience from Big 4 firms, corporate environments, and the medical products industry.

It is Terumo’s policy to provide equal employment opportunity to all its employees and applicants for employment regardless of their race, creed, color, national origin, age, ancestry, nationality, marital or domestic partnership or civil union status, sex, pregnancy, gender identity or expression, disability status, liability for military service, protected veteran status, sexual orientation, atypical cellular or blood trait, genetic information (including the refusal to submit to genetic testing), or any other category protected by law. As a Company, we value diversity of background and opinion, and prohibit discrimination or harassment on the basis of any legally protected class in the areas of hiring, recruitment, promotion, transfer, demotion, training, compensation, pay, fringe benefits, layoff, termination or any other terms and conditions of employment.

Nearest Major Market: New Jersey