Tax Information Reporting - Assistant Manager

Responsible for in-scope processes related to one or multiple Citi lines of business within the centralized Tax Information Reporting function in FRSS.  This position supports the reduction/elimination of Citi'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 FRSS; 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. 

Core Responsibilities:
•    Act as a tax / information reporting specialist to execute the FATCA, CRS advisory/
rollout, Systems conversions/rollouts.
•    Executes the tax information reporting processes to products issued by Citi’s business
•    Migration of work into our centralized hub
•    Develop "Go To" processes and implement appropriate procedures/ controls to 
ensure consistent compliance with Information Reporting & FATCA, CRS requirements  

Day-to-Day Responsibilities:
•    Support FRSS's Service Delivery / Engagement model with client constituency and other
 key stakeholders
•    Identify and participate in process reengineering & redesign to achieve better controls,
 compliance and efficiency
•    Support audits with IRS and Internal Audit (IA), and any other special audits.
•    Participate in self-assessment testing, MCA, SOX controls as well as any audits with IRS
 Or Citi's IA.
•    Ensure tight controls over owned processes to include key controls and COB
•    Review, validate and process W-8 and W-9  tax forms and related documentation 
according to IRS Chapter 3, chapter 61, and FATCA regulations besides CRS.
•    Support Technology projects from a technical tax perspective    •        •    
•    Contribute towards departmental requirement to adhere to strict regulatory and 
Compliance requirements, per IRS and Citi policy. 
•    Perform reviews of written tax policy and procedures, research and respond to 
inquiries from operational areas 
•    Handle Tax reporting for US and Non US legislations.

ROLE & RESPONSIBILITIES

Business/ Department

Objectives:

Responsible for in-scope processes related to one or multiple Citi lines of business within the centralized Tax Information Reporting function in FRSS.  This position supports the reduction/elimination of Citi'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 FRSS; 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.

Core Responsibilities:

• Act as a tax / information reporting specialist to execute the FATCA, CRS advisory/

rollout, Systems conversions/rollouts.

• Executes the tax information reporting processes to products issued by Citi’s business

• Migration of work into our centralized hub

• Develop "Go To" processes and implement appropriate procedures/ controls to

ensure consistent compliance with Information Reporting & FATCA, CRS requirements

Day-to-Day Responsibilities:

• Support FRSS's Service Delivery / Engagement model with client constituency and other

key stakeholders

• Identify and participate in process reengineering & redesign to achieve better controls,

compliance and efficiency

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

• Participate in self-assessment testing, MCA, SOX controls as well as any audits with IRS

Or Citi's IA.

• Ensure tight controls over owned processes to include key controls and COB

• Review, validate and process W-8 and W-9  tax forms and related documentation

according to IRS Chapter 3, chapter 61, and FATCA regulations besides CRS.

• Support Technology projects from a technical tax perspective

• Contribute towards departmental requirement to adhere to strict regulatory and

Compliance requirements, per IRS and Citi policy.

• Perform reviews of written tax policy and procedures, research and respond to

inquiries from operational areas

• Handle Tax reporting for US and Non US legislations.

Financial/ Budgetary:

No

Individual Contributor (IC)/Managerial

IC

Key Deliverables:

1.FATCA/CRS reconciliation and reporting

2.1042s/1099 reconciliation and reporting

3. Analytics and Commentary

4. Project Related delivery

Percentage of Travel:

 No                                  Yes, 10% of the Time       Yes, 25% of the Time 

Yes, 50% of the Time  Yes, 75% of the Time       Yes, 100% of the Time

Relocation:

No

Other:

QUALIFICATIONS

Required

Preferred

Education:

The ideal candidate will have a BCOM/CA/MBA/ Other Finance Masters and 3 to 5 years’ relevant work experience in Tax operations or related discipline

Masters

Experience:

Bank/Financial Institutions knowledge:  products, services, IRS regulations, Tax Operations 

Certifications:

NA

CA, CPA or an equivalent Tax qualification preferred

Skills:

• Basic Understanding and working knowledge of IRS Forms W-9 and W-8 and information reporting rules, FATCA and CRS.
• Ability to act as a change agent for organization.

Project Management experience preferred

Other:

• Strong MS Office skills particularly Excel
• Quick learner with excellent communication skills, team orientation, and ability to work with counterparts in different areas of organization

VBA,  Knowledge of Macro’s read and write

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