What are the responsibilities and job description for the Group Head, Tax position at Newmont Mining?
Workplace Type: Hybrid - Remote/Onsite
Posting End Date: February 2, 2024
Founded in 1921 and publicly traded since 1925, Newmont (www.newmont.com) is one of the largest gold companies in the world. Headquartered in Denver, Colorado, the company has approximately 24,000 employees and contractors, with the majority working at Newmont's core operations in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont's industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders.
About this role
Newmont is currently seeking a Group Head, Tax to lead our global tax function. As a Tax leader, you will shape the global tax strategic position and direction, supporting corporate financial performance, value creation and risk management.
The tax function within Finance is vital for upholding compliance with tax laws and regulations across the international operations. The tax team functions in nine key countries - Peru, Argentina, Suriname, Mexico, Ghana, Australia, PNG, US, and Canada, while also maintaining a presence in over 20 other countries worldwide.
The diverse nature of this role creates intricate challenges and potential risks in negotiating tax laws and regulations in each jurisdiction, each with its unique legal framework and rules. In a world of constantly changing tax laws, the Group Head roles is required to anticipate consequences of regulatory alterations by participating in industry forums, leading advocacy efforts, and keeping abreast of evolving tax landscapes.
Your role will consist of
- Develop a 5-year strategic and tactical plans for enterprise-wide taxation.
- Develop the systems and governance frameworks for tax modelling, valuation, and analysis.
- Anticipate the changes in tax regulations within various jurisdictions and consequences on tax requirements and financial value.
- Manage the consolidation of all taxation activities across the Company s countries where they operate and explore.
- Ensure the integration of enhanced tax processes, tools and methodologies support the Finance function strategic planning, capital allocation, risk management, valuation, and financial performance.
- Develop tax modelling, analysis and reporting for the Board, Executive, functional and operational leadership.
- Coordinate compliance and disclosure for global tax shelter reporting, by reportable entity by jurisdiction by exposure area, all as required under US tax shelter regulations.
- Review and prove out the integrity, integration and tax planning prospects of the consolidated life-of-mine plan tax model and tax forecasts.
- Oversee and manage income tax audits, by major jurisdiction. Review responses to agent inquiries, analyze the impact of underlying issues against the Company and negotiate settlement. Communicate to senior management progress and impact of any administrative appeal or legal process.
- Provide
- Develop and manage the company s standardized financial governance framework to ensure all significant risks and value loss are identified and managed.
- Manage the global tax function, including budget preparation, selection and integration of tax software, publication resources, library materials, consultant engagements and special projects.
- Provide guidance to functional and operational leadership on tax risk issues, compliance with relevant laws, regulations, and anticipate changes.
- Conduct tax analysis of projects, assets, acquisitions, divestments, and joint ventures.
- Develop and manage commercial insurance program coverage, performance, and material claims.
- Define roles and responsibilities within the tax teams and interfaces with operational leadership, providing clarity on outcomes and projections and that the tax systems are effectively and consistently adopted and utilized.
Your role will consist of (continued)
- Collaborate with the Heath, Safety, and Sustainability leadership team to ensure tax regulatory aspects are considered in ESG activities
People
- Build and manage a high-performing tax management teams through appropriate team leader processes of clarifying work, setting performance requirements, providing feedback, coaching, and developing knowledge and skills.
- Develop regular reports for the executive team and board of directors on the tax strategy, regulations, anticipated changes, and governance frameworks.
- Ensure tax risks are identified, assessed, managed, and assured in accordance with the company s formally defined risk management and governance systems
Your training, skills and experience checklist
- B.S. degree in Accounting, Finance or Business Administration??
- Masters/MBA preferred.?
- CPA, with JD and/or LL.M in tax country equivalent
- ERM principles within mining or other extractive industry
- Relevant tax laws and regulations of natural resources
- Financial/ Tax information & modelling systems and technologies
- US Corporate and Partnership taxation
- Transfer pricing regulations
- Advanced proficiency in tax modelling, valuation, and analysis
- Advanced proficiency in assessing, integrating, and reporting enterprise-wide tax risks and changes in country regulation.
- Advanced proficiency in optimizing tax matters in natural resources sector in the US and globally.
- Advanced proficiency in managing price transfer arrangements for large, global, publicly traded companies.
- Advanced proficiency in managing the implementation of complex tax regulations and systems requiring participation and compliance from all functional and operational leadership teams.
- Advanced proficiency in evaluating and monitoring tax performance value creation.
- Advanced level of commercial skills: budgets, forecasting, planning, analysis, reporting and communicating results.
Other considerations
- Ability to travel to domestically and internationally
- Proficiency in English; second language as required.
We understand no candidate will meet every single desired qualification. If your experience looks a little different from what we’ve identified and you think you can bring value to the role, we’d love to learn more about you!
The salary range offered for this role is USD $272,000 to $323,000. The salary range is tied to the Colorado market for jobs performed in Colorado. The salary offer to the successful candidate will be based on job-related education, training, and/or experience. The salary offer will not be based on a candidate’s salary history at other jobs, and by law, Newmont will not seek information about salary history, and candidates should not share such information with Newmont.
This role will be eligible for participation in a discretionary annual bonus program, pursuant to which an employee may be awarded a percentage of their salary based on the company’s performance and their own individual performance. This role also will be eligible for participation in a discretionary long-term incentive program, pursuant to which an employee may receive awards based on their level and individual performance.
Newmont offers a competitive and inclusive benefits package to support physical, mental, financial and emotional wellbeing. This role will be eligible for the following benefits: Medical, prescription drug, dental, and vision insurance; flexible spending accounts; health savings accounts; life and accidental death and dismemberment insurance; short and long-term disability; defined benefit pension; 401(k) program with company match; financial planning; employee assistance program (EAP); wellbeing reimbursement program; adoption assistance; tuition reimbursement; paid holidays and paid time off; paid family leave; matching gifts; and discounts on home, auto and pet insurance. All bonuses and benefits are subject to the applicable eligibility and program/plan terms and may be modified or terminated at Newmont’s sole discretion.
Nearest Major Market: Denver
Salary : $272,000 - $323,000
