Tax Operations Senior Analyst

  • Negotiable
  • Newark, NJ, États-Unis Newark NJ US
  • CDI, Plein-temps
  • Standard Chartered Bank
  • 14 juin 18 2018-06-14

* The senior analyst works within the US Tax Operations unit to support BAU functions as it pertains to IRS tax withholding and reporting across different lines of business/trade products for the NY branch. Those trade types currently include FX, Money Markets, Reverse Repos and DDA interest. The role acts in a regulatory reporting capacity and enforces IRS regulations for tax compliance.

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We are currently looking for Senior Tax Operations Analyst.

The Senior Tax Operations Analyst will reports to: Manager Tax Operations.

Purpose of Position:

* The senior analyst works within the US Tax Operations unit to support BAU functions as it pertains to IRS tax withholding and reporting across different lines of business/trade products for the NY branch. Those trade types currently include FX, Money Markets, Reverse Repos and DDA interest. The role acts in a regulatory reporting capacity and enforces IRS regulations for tax compliance.

Key Responsibilities:

* The Tax Operations Analyst will be responsible for the daily transaction monitoring and reconciliation of FM trades subject to IRS withholding for FX, Reverse Repo and Money Markets trades. Daily reports are issued to business partners with established daily SLAs (Service Level Agreements) adhered to.

* Maintain communications with FATCA COBAM/FM Ops teams on statuses of impending trades subject to IRS withholding and update validation logs for tracking purposes.

* Provide year end support for the issuance of annual tax information reporting statements (1099s & 1042-S) which include compilation of data, quality assurance/UAT, printing and signoff.

* Compile and maintain transaction monitoring "Watchlists" and "Validation" files as golden source records plus provide ad hoc support for ongoing BAU functions and conduct monthly reconciliations.

* Create, implement and update our desktop/DOI procedures; raise any exposure issues in our current processes to the Tax Operations manager and provide recommendations towards mitigating risk and process improvements.

Qualifications for the Position:

* The Tax Operations Analyst should be detail oriented with strong analytical skills and ability to identify, assess, monitor, control and mitigate risks to the bank.

* Intermediate to Advanced level Excel Skills - must be able to run formulas, pivot tables, Vlookups as part of BAU reconciliation process. This is a demanding skill set and present workload requires this level of expertise.

* Excellent teamwork, interpersonal and communication skills and capable of working independently and as part of team.

* Candidate should be familiar with financial services and as a plus in foreign exchange and derivative based transactions.

* IRS Tax documentation, withholding and reporting knowledge is a plus.

Judgment and Complexity of Decisions:

* The Tax Operations Analyst must be a critical thinker, self starter, possess general business logic. Should be alert for cases of unresolved/incomplete tax documentation or other withholding errors that could cause compliance issues resulting in under withholding and under reporting for the bank.

Key Responsibilities: The Tax Operation Analyst's responsibilities are in four related areas - daily withholding monitoring and reconciliation, year end reporting, risk mitigation, and build out support.

Daily withholding monitoring and reconciliation

* The Tax Operations Analyst will be responsible for the daily transaction monitoring and reconciliation of FM trades subject to IRS withholding for FX, Reverse Repo and Money Markets.

* Daily BAU processes should be accurate and meeting established daily SLAs (Service Level Agreements) with various business stakeholders.

* Maintain communications with the FATCA COBAM and FM Ops teams as it pertains to tax form statuses of impending trades subject to IRS withholding and update logs for tracking purposes.

Annual/Year End 1099/1042-S Reporting and Support

* Provide year end support for the issuance annual 1099 and 1042-S tax information reporting statements for the NY Branch.

* Auditing and compilation of tax, client and transaction data plus quality assurance/UAT.

* Perform User Acceptance Testing (UAT) and support a maker/checker process to ensure that standards are communicated & documented.

Risk mitigation

* Raise withholding escalations to the Tax Operations Manager and follow up with business partners to reduce IRS risk and exposure for our counterparties and the bank.

Build Out Support

* Improve current processes and update desktop DOI procedures and reports.

* Develop recommendations for process controls and improvements.

* Be flexible to contribute to other activities of the group where necessary.

Relationship Development and Maintenance:

* The Tax Operations Analyst works to establish and maintain good, professional relationships with fellow business partners, 3rd party vendors and those other areas of the Bank that interact with Tax Operations.

Internal Customers

* Direct reports, peers in management

* Managers and staff of

1 FATCA COBAM/CIC Teams

2 FM Ops NY/Chennai Teams

3 Tax Legal Teams - CTIC (Client Tax Information & Compliance) and Country Tax (US)

4 FM Sales/Trading

5 TB/Institutional Banking Support Teams

6 CTIR Team Singapore (Client Tax Information Reporting)

External Customers

* 3rd Party Tax Software Vendor - CTI (Compliance Technologies International)