Spotlight Series: Meera Khosla, Head of Tax Policy at Barclays

Kieran Moon speaks to Meera Khosla, Head of Tax Policy at Barclays, covering many topics including her path to Head of Tax Policy, transition to an in-house role, building experience and supporting women in the workplace.

Kieran: You began your career as a lawyer, when did tax come onto you radar?

Meera: I did a seat in Tax as part of my training contract at DLA Piper and found it to be one of the most intellectually challenging and stimulating areas of law as it changes each year. Tax is relevant wherever there is a payment of any kind and as a result you got to work with almost every department in a law firm.

Kieran: How important was your secondment in paving the way for a move in-house?

Meera: The secondment I did as a trainee was instrumental to paving the way for a move in house. I knew quite early on I liked the dynamics and culture of being in the business and enjoyed working day to day with a variety of people and seeing the practicalities of how a business operated.  

Kieran: What were the key lessons that you learned through your transition to an in-house role?

Meera: To get the most out of an in-house role, I believe you have to be prepared to “roll your sleeves up” and sometimes do what you may perceive to be the “less cerebral” things, yet they are vital to understanding the details of the business and develop other skills that ultimately make you a better in-house lawyer who adds value.

I also learnt early on that not everyone communicates like a lawyer in house (which is a good thing) and you have to tailor your communications appropriately to get the best out of people and for yourself.  A further key lesson is that good teamwork and trust is vital to getting the best outcome at work and it is also the most enjoyable. 

Kieran: What major cultural changes did you experience moving across industries? (law firm/investment banking/tech)

Meera: Each industry and each organisation will have their own individual culture and promote the way they do business. The biggest change for me when moving from a law firm to in house was the diversity of people I had to communicate with and learning how to tailor my communications accordingly. The biggest change I had to adapt to in moving into the investment banking industry was learning the banking/trading jargon which was almost like learning a new language. One organisation I worked at even had a “jargon buster” for new joiners!

Kieran: What tips would you share to those considering a similar career path to your own?

Meera: I would say be open to opportunities and don’t immediately dismiss something that might not initially spark your interest.

There is no substitute for hard work and attention to detail is very important - they will build the foundations to career growth.

Perseverance is also key. Some people will try and pigeonhole you into certain roles/career paths based on how they see the world/what is easiest for them. Some will however see value in diversity of experience and skillset. Working in various roles and industries demonstrates an ability to adapt, assimilate new information quickly and challenge your own thinking, all of which promotes growth personally and professionally. You will also thrive in a place where your values align with the values of the team/organisation. Fundamentally it is your career, and you are responsible for what you do with it and how you want it to look. In the words of Arnold Schwarzenegger, ignore the naysayers.

Kieran: You are undoubtedly a role model for many women looking to progress their careers. In your opinion, how can employers better support women’s career ambitions?

Meera: I think progress has been made but there is still more to be done. Promoting an inclusive environment for all is very important. I also think employers can further support women who may want to focus on their careers in their twenties and have children at a later stage. Currently a lot of employers offer varying degrees of access to fertility treatments under their private medical healthcare schemes. I think employers should go further in this and offer wider support in this area, including the opportunity for women to freeze their eggs as a medical health benefit. That way, it gives women who may want to delay having kids a further chance to have them at a later stage, once they feel more secure in their careers.

Kieran: Alongside your role at Barclays, you’re a Tax Chair at ISLA (International Securities Lending Association) – what does this entail?

Meera: The International Securities Lending Association is an industry body that represents an array of global banks, broker dealers, asset management firms, sovereign wealth funds, advisors etc who are all involved in securities lending. Tax is increasingly becoming a hot topic in this area at the moment, with governments in Europe introducing new legislation and guidance that is impacting the industry in not always positive ways. Through my role as Tax Chair of ISLA, members raise market issues they would like to discuss and see whether the industry can provide a resolution for them, whether that be lobbying Ministries of Finance with respect to new tax legislation or introducing contractual solutions for the industry through industry standard legal documents and best practice guidance. There are lots of upcoming events, visit the ISLA website for more information.

Kieran: We’ve seen employers increasingly encourage people back into the office. How important do you feel office presence is?

Meera: I think office presence is very important, especially for junior members of teams who learn from asking questions, listening, and physically seeing how things are done. You also have visibility of things in the office that you cannot see at home – whether it be someone who could be struggling or there may be an ad hoc opportunity to grab lunch with a few teammates. I however think that flexibility is required and working from home can also increase productivity and provides employees with an ability to manage their work and family/home commitments. Studies show minimum of three days in the office and the ability to work from home two days is the optimum sweet spot.

Do you have a story to tell and wisdom to share? Get in touch with Fabienne Dormeuil for more information on how you could be featured in our next Spotlight Interview.