The Wealth Management (WM) Tax Compliance Team's primary objective is to ensure global conformity with the IRS Regulations as it relates to client tax information reporting and withholding. The team ensures compliance with IRS Forms W-9/W-8 tax certification requirements in order to limit (or prevent) penalties for non-compliance. The Tax Compliance Team also provides tax technical advice to internal business partners.
The role of the WM Tax Compliance candidate will be to ensure global conformity with CRS, FATCA, NRA and Intergovernmental Agreements (IGAs) for the Private Bank. The candidate will be responsible for providing technical tax advice to the various internal business partners as it pertains to specific inquiries in addition to oversight of tax-related project deliverables. Finally, the candidate will support the BAU functions aligned with the Tax Compliance team.
• Responsible for reviewing detailed tax information and client documentation to offer sound tax advice to business colleagues
• Oversee the CRS projects and function for Private Bank
• Serve as the primary liaison between Tax Compliance and Tax Projects, Operations and other stakeholders on CRS issues
• Work with the Head of Tax Compliance & Due Diligence to formulate operating models for CRS self certification validation and reporting obligations.
• Work as a liaison between Tax and Alternatives Investment group on all CRS issues.
• Advise as to the rules regarding withholding and reporting under Chapter 4 (FATCA), Chapter 3 (NRA) and Chapter 61 (BUW)
• Support the technology projects from a technical tax advisory perspective
• Implementation and support of BAU processes and procedures for continuous information reporting and withholding compliance
• Monitor the release of tax updates related to various U.S. reporting and withholding regimes including IGAs with FATCA partner jurisdictions
• Liaise with the firm wide Central FATCA team, GWM and Enterprise work streams, Corporate Tax, and external counsel/advisors related to tax specific issues
• Provide advice regarding due diligence rules for client identification
• Provide education, training, and tax technical expertise to various client facing and tax documentation teams as needed
• Knowledge of Common Reporting Standard (CRS) regulations including technical and reporting obligations.
• Experience with running CRS project, including creating operating models for information gathering, self certificate validation, CRS reportable data scrubs and creating jurisdictional reporting models.
• Good knowledge of IRS requirements (i.e. Revenue code sections and Treasury regulations), with a specific focus on information reporting and withholding
• Ability to research tax issues
• Undergraduate degree in accounting, finance, economics, or related field; advanced degree is preferred
• Progress toward graduate degree in law or taxation
• Minimum of 7 years of tax experience required; prior position at a large accounting firm, financial services company, or law firm is preferred
• Highly organized and detail oriented with strong analytical skills and the ability to work independently
• Excellent written and verbal communication skills (including presentation) and influencing capabilities
• Proficient computer skills with an emphasis in Microsoft Office tools: Excel, PowerPoint, and Word as well as strong knowledge of online research tools (e.g. CCH, RIA Checkpoint, Lexis/Nexis, Bloomberg)
• Series 99 License (within defined business timeline post on-boarding)