Vice President - Tax Information Reporting - BFSI

Job Description:

Responsible for in-scope processes related to one or multiple lines of business within the centralized Tax Information Reporting function in FRO. This position supports the reduction/elimination of Client's franchise & regulatory risk through accurate and timely reporting and enhanced due diligence on customer accounts. The incumbent is expected to migrate information reporting work from various sub-units within the business line into FRO. This process includes training and job shadowing, building documentation such as procedures and process flows and identifies gaps in the process based on IRS regulations. In addition, the incumbent will support a specific business vertical and is expected to develop and enhance their product knowledge within a short timeframe.

This position will work in a team-oriented environment.

The key objectives and result are as follows:

Act as a tax/information reporting specialist (and potentially team leader) to execute the FATCA advisory/rollout and systems conversions/rollouts

Act as an internally and externally recognized subject matter expert

Executes the tax information reporting processes applicable to products issued by businesses

Migration of work into our centralized hub

Develop "Go To" processes and implement appropriate procedures/controls to ensure consistent compliance with Information Reporting & FATCA requirements

Support FRO's Service Delivery/Engagement model with client constituency and other key stakeholders

Identify and participate in process re-engineering and redesign to achieve better controls, compliance and efficiency

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

Perform self-assessment testing, MCA, SOX controls, as well as any audits with IRS

Manage and drive employee engagement and talent management

Ensure tight controls over owned processes to include key controls and include Continuity of Business (CoB)

Desired Skill Set:

Strong understanding of U.S. tax information reporting requirements applicable to products issued by retail, institutional custody, markets and private bank businesses

Strong understanding of U.S. tax information rules applicable to U.S. persons and non-U.S. persons

Strong 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

Knowledge of Income Sourcing rules

Knowledge of FATCA regulations, inter-governmental agreements and associated reporting requirements

Excellent relationship management and communication skills to drive engagement and close interactions with key stakeholders including Corporate Tax/Business Heads/Tax GPO

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

Ability to design processes and procedures including proven track record at process re-engineering, re-design and process automation

Proven ability to act as a change agent for organizational and product transformational initiatives

Project management experience and strong organizational skills

Well-versed in standard desktop technology with advanced Excel skills; Visio and Access experience is preferred

Experience in interacting with all levels of internal customers, senior management, as well as internal, external and regulatory audit teams

Qualifications

Bachelor's degree is required; Master's degree is preferred; CPA or an equivalent tax qualification is preferred

6-10 years of experience