Senior Role - US Tax Information Reporting - Assurance & Compliance Team - BFS

Senior Role - US Tax Information Reporting

Job Description:

- Lead and coordinate in-scope processes related to assurance and compliance as part of the Tax Information Reporting function in FRSS. This position supports the reduction/elimination of C franchise & regulatory risk through accurate and timely reporting and enhanced due diligence on customer accounts. 

- The incumbent is expected to work as part of the Assurance and Compliance team tasked to monitor compliance of TIR policies through periodic targeted reviews, perform high-level governance on operational change management related to corporate tax guidance and support the QI specialist group. The incumbent will also be responsible for the execution of applicable control activities related to the group's governance processes.

This position will work in a team-oriented environment.

The key objectives and result areas are as follows:

- Act as a tax / information reporting specialist (and potentially process lead) in the Assurance and Compliance Team

- Act as an internally and externally recognized subject matter expert

- Complete targeted reviews of TIR policies across businesses, report identified gaps and review business remediation plans

- Assist business in dimensioning significant issues and provide recommended actions

- Manage the Build-out and maintenance of an inventory of responsible parties across all businesses for FRSS-TIR activity

- Act as member of the QI specialist group supporting Responsible Officers and tax operational teams with reviews, training and policy updates

- Support audits with IRS and Internal Audit (IA), and any other special audits.

- Ensure tight controls over owned processes to include key controls and include Continuity of Business, as applicable

- Identify and participate in process re-engineering and re-design activities to achieve better controls, compliance, and efficiencies

- Support Technology projects from a tax technical perspective

- Contribute towards departmental requirement to adhere to strict regulatory and compliance requirements per tax authority and policy

- Perform reviews of written tax policy and procedures, research and respond to inquiries from operational areas

Qualifications :

1. Understanding of U.S. tax information reporting requirements applicable to products issued by Consumer, Custody, Markets, Private Bank, and/or other businesses

2. Understanding of U.S. tax information reporting rules applicable to U.S. Persons and non-U.S. Persons

3. Understanding and working knowledge of IRS Forms W-9 and W-8 and their associated requirements; Forms 1098, 1099 series, and 1042-S; Forms 945 and 1042

4. Knowledge of Income Sourcing rules

Knowledge of the Qualified intermediary Regulations and the requisite compliance requirements

5. Knowledge of Foreign Account Tax Compliance Act (FATCA) regulations, inter-governmental agreements (IGAs), and associated reporting requirements

Knowledge of the Common Reporting Standard and its due diligence and reporting requirements

6. Excellent communication skills to drive engagement and close interactions with key stakeholders. Provide basic advisory services primarily for internal clients

7. Ability to examine processes and procedures, experience with Process Re-engineering. Re-design and Process Automation experience is preferred

8. Ability to act as a change agent for organizational and product transformational initiatives

9. Project Management experience preferred and strong organizational skills required

10. Well versed in standard desktop technology with advanced Excel skills. Visio and Access experience preferred

11. Ability to interact with all levels of internal customers and senior management

12. Liaison with Corporate Tax for complex tax advisory inquiries and policy requirements