Regulatory Tax Reporting Specailist-Private Banking - contract

Regulatory Tax Reporting Specialists - Private Banking/Wealth - Securities Operations (asset servicing/settlements/corporate actions/Income/Transitions & Controls/Banking & Treasury).

HNW - Private Banking entity are seeking contract Regulatory Tax Reporting Specailist (£300-£600/day, 6 month contract). Exceptional working environment/culture.

The primary focus of this role is to work closely with the Securities Operations team to manage the day-to-day operational requirements for client & regulatory tax.

Client and regulatory tax reporting includes, but is not limited to, US Qualified Intermediary (QI), US FATCA, Common Reporting Standards (CRS), any other current or future automatic exchange of information (AEOI) and all associated client reporting. A good working knowledge of these areas is essential.

A basic knowledge of securities operations across various asset types and markets is required, plus experience of working with counterparties such as brokers, custodians, fund managers, transfer agents, data providers, depositaries and their respective online systems.

The ideal candidate be able to analyse the operational tax impact of regulatory changes and new business proposals with a view to planning and implementing any necessary changes.

Key responsibilities

• Manage all UK and CI tax operational activities dealing with any queries, issues or complaints in a prompt professional manner to minimise operational, reputational and financial risk
• Ensure appropriate regulatory controls are in place to comply with relevant tax and AEOI legislation, regulations and guidelines to eliminate any possible risk of an audit finding
• Ensure all relevant US stock holders are fully documented with an appropriate IRS tax form (W8s, W9s), and maintain appropriate withholding reporting (1099, 1042s)
• Make sure individual, corporate and trust classifications are complete and in place on systems (FATCA, CRS) and work with the Front Office to obtain self-certifications and updated records
• Reconcile downloaded custodian and agent tax reports to internal company reports and resolve any differences
• Verify any client changes of address, US reportable stock purchases or any stocks that have changed to US reportable
• Maintain accurate tax reporting in line with deadlines, particularly for regulatory reporting and EOY client tax packs
• Take responsibility for the continuous improvement and documentation of our QI compliance program including procedures, training and systems to comply with the US requirements
• Plan for and manage all external compliance reviews with auditors or other third parties as necessary, analyse results and implement changes or remediation as advised
• Contribute constructively to the development of the Securities Operations Department by suggesting ideas for improving efficiency or process quality.
• Monitor and review tax policy or regulatory changes that impact current tax processing and communicate the operational tax implications to key stakeholders

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