Lydia Linna: You’ll be speaking during a session that focuses on “hot off the press” innovations that are transforming operating models. Could you give a few examples of these innovations? How can these innovations make companies more efficient?
Rosheen Dries: The innovations that I will be discussing in the session are related to tax engineering, tax data modelling and intelligence.
Innovations in the tax field assist companies in effectively and reliably responding to the growing complexity of reporting requirements--which include limited timelines for submitting information with an increased level of detail, demanded in evolving reporting obligations. The volume and complexity of data for tax reporting and compliance has also increased, with prominent examples being Beps Pillar 2, e-invoicing and continuous regulatory changes to operational taxes driven by the EU and OECD.
To keep pace with these changes, the tax function needs to undergo modernisation. This entails enhancing data flows and lifecycle through the adoption of new technologies and operating models.
What would you like the audience to take away from the presentation?
I hope that the audience takes away from this presentation a clear understanding of the significance of data-driven transformation of the tax function. I also truly hope to be able to empower tax professionals and chief data officers (CDOs) to lift tax onto their CEOs’ agendas.
As digitalisation, and globalisation of tax by the authorities and regulators are posing a major operational risk to tax functions but also to their organisations, the function needs to evolve into a strategic business partner delivering proactive tax risk management. Embracing data-driven approaches will help in making informed decisions, optimise processes, and allow companies to stay ahead in an ever-changing business landscape.
This event is taking place in Monaco. From a Luxembourg perspective, why do you think this conference is interesting?
Luxembourg is the number 1 investment fund centre in Europe and number 2 in the world in terms of assets under management. International business professionals from more than 60 countries will gather. It is the perfect place to take the pulse of the industry, to meet professionals from the asset management, buyers and asset owner side--out of which some are operating in Luxembourg but have their decision-making done in other countries. I am looking forward to insightful conversations about the present and the future of the wealth and asset management industry.
The IMpower conference will feature more than 300 experts in the fund industry. Are there any particular sessions or speakers that you’re looking forward to at the conference, and why?
The agenda is vast and exciting for a wealth and management professional. As I am specialised in operational tax, fund and regulatory reporting, I am of course particularly looking forward to the sessions (and discussions!) about operations, data and regulation.
On a more personal level, I consider AI as a fascinating field and look forward to insights from top speakers who will be speaking among others about the impact of generative AI on financial services.
Rosheen Dries is one of the participants of the session titled “” on 27 June.