8 months ago
FRSS TIR Global Business Lead (Custody)
* Primary Location: United Kingdom,England,London
* Education: None
* Job Function: Operations
* Schedule: Full-time
* Shift: Day Job
* Employee Status: Regular
* Travel Time: Yes, 25 % of the Time
* Job ID: 18026294
Lead and manage the centralized Tax Information Reporting team for Custody in FRSS and drive the strategic agenda for Tax Information Reporting.
As the Global Business Lead the incumbent will be responsible for managing the Custody business relationships globally. This position also includes the continued oversight of EMEA TIR Tax reporting for all regimes.
In addition will be required to provide guidance to business partners through service delivery conversations and reporting.
This position will be responsible for directly managing a staff of tax professionals in a team oriented environment and will have direct responsibility over people and budget supporting Information Reporting for their Business line.
The key objectives are as follows:
* Lead a team of tax information reporting specialists in the 3 Citi Service Centers globally and in certain legacy sites
* Oversee the tax information reporting processes applicable to products issued by Citi’s businesses (i.e. Retail, Institutional, Custody, Private Bank, etc.)
* Act as an internally and externally recognized subject matter expert and Business contact, influence the way processes are completed, not only internally within FRSS, but beyond it with the Business and Corporate Tax
* Migration of work into our centralized hub
* Contribute to develop and implement policies/ procedures/ controls to ensure consistent compliance with Information Reporting and FATCA/CRS requirements including timely incorporation of regulatory changes in operational processes and technology
* Provide timely feedback and reporting to key stakeholders and coordinate data and information flow with the Tax group, respective Businesses (ICG, Consumer, etc.) as well as FRSS
* Drive Process Reviews and Reengineering to ensure processes are lean and efficient with a solid controls framework
* Coordinate audits with IRS and Internal Audit (IA) and support any other special audits
* Support Technology projects from a tax technical perspective
* Continuity of business planning, testing, and readiness
* Manage or coordinate self-assessment testing, MCA, SOX controls as well as any audits with IRS or Citi's Internal Audit
* Leading and driving employee engagement and talent management initiatives
* Adhere to FRSS budget and headcount requirements and maintain re-engineering plan and goals
1. Strong understanding of U.S. tax information reporting requirements applicable to products issued by Consumer, Custody, Markets, Private Bank, and/or other Citi businesses
2. Strong understanding of U.S. tax information reporting rules applicable to U.S. Persons and non-U.S. Persons
3. 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
4. Knowledge of Income Sourcing rules
5. Knowledge of Foreign Account Tax Compliance Act (FATCA) regulations, inter-governmental agreements (IGAs), and associated reporting requirements including Commone Reporting Standard.
6. Excellent relationship management and communication skills to drive engagement and close interactions with key stakeholders including Corporate Tax, Business Heads, and OandT managers
7. Ability to design processes and procedures including proven track record at Process Re-engineering, Re-design, Process Automation
8. Proven ability to act as a change agent for organizational and product transformational initiatives
9. Experience in systems selection / technology solution roll-outs
10. Experience in interacting, managing senior interactions related to audits (internal, external, regulatory)
11. Liaison with Corporate Tax for complex tax advisory inquiries and policy requirements
12. Proven ability to build teams, lead staff, and drive employee engagement, talent development, and mentoring.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.