Scotiabank

Director, Tax Operational Risk - Finance

Scotiabank • $125K — $150K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • CA, tax lawyer, or equivalent with a minimum of 10 years' experience in Financial Services tax advisory.
  • Focused advisory experience in QI/FATCA/CRS regimes, either in private practice or industry.
  • US tax advisory experience with Chapter 3 and Chapter 4 withholding tax regimes.
  • Ability to oversee complex tax matters.
  • Strong leadership skills.

Responsibilities

  • Develop governance frameworks for tax regulatory regimes such as QI, FATCA, and CRS.
  • Provide governance and advice for tax compliance in onboarding and reporting areas related to QI and FATCA/CRS.
  • Support QI project teams during audits and reviews to address operational failures.
  • Coordinate with business lines to ensure compliance impacting tax operations.
  • Collaborate with Operations teams on tax process monitoring for compliance.

Benefits

  • Join a forward-thinking company with a collaborative team.
  • Diverse opportunities for professional development.
  • Internal development programs to enhance skills.
  • A competitive benefits package.
  • An organization committed to community impact and inclusivity.
Full Job Description
Requisition ID: 269780

Purpose

The principal purpose of this position is to lead enterprise-wide tax operational risk governance, with a focus on tax advisory in respect of implementation of tax regulatory regimes governing tax operations and tax information reporting and withholding. The role will also involve working with the VP, Capital Markets Taxation and Global Tax Disputes and Director & Head, U.S. Taxation.

Is this role right for you? In this role you will:
  • Develop, with tax subject expertise input, governance frameworks and processes related to tax regulatory regimes including the Qualified Intermediary (QI), FATCA and the CRS regimes.
  • Provide enterprise-wide governance and advice in respect of tax compliance in the areas of tax onboarding, due diligence, and information, withholding, and reporting as related to QI and FATCA & CRS regimes.
  • Provide technical support to the QI project team, the responsible officer, and throughout QI audits and independent reviews for purposes of identifying and remediating material failures or events of default in BNS in respect of the QI regime.
  • Coordinate and liaise with the Bank's business lines to drive enterprise-wide compliance in the areas impacting tax operations and onboarding related to QI, FATCA, and CRS.
  • Together with the Operations teams, support the creation and monitoring of tax relevant processes and in support of compliance with the information reporting and withholding regimes.
  • Provide tax technical support, oversight and governance of QI, FATCA/CRS and to ensure tax compliant implementation.
  • Lead the review of client tax forms and remediation requests and determining client tax status, particularly as related to QI, FATCA & CRS, and assist in same with respect to US withholding rules related to 871(m), 305(c), 304, 302, FIRPTA.
  • Lead the responses to counterparty requests for Scotia tax forms in relation to FATCA/CRS self certifications.
  • Lead responses to ad hoc client and counterparty inquiries regarding tax withholding, information reporting, and documentation requirements, with a primary focus on QI obligations, including withholding, reporting, and documentation matters. Provide guidance on FATCA and CRS requirements, as well as U.S. withholding tax rules, including Sections 871(m), 305(c), 304, 302, and FIRPTA.
  • Provide clear, timely, and accurate US tax analysis, risk assessment, and tax planning, consistent with the Bank's reputational risk appetite. Monitor the developments of new capital markets or other business related strategies or structures. This will include providing advice and support related to US tax operational risks associated with US tax information, withholding, and reporting rules.
  • Review the ISDA tax language.
  • Provide support with any special project that may arise that may require U.S. tax advice.


Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:
  • CA, tax lawyer, or equivalent, ideally with a minimum of 10 years' experience including Financial Services tax advisory, with focused advisory experience in respect of QI/FATCA/CRS regimes, either in private practice and/or industry background; US tax advisory experience with US Chapter 3 and Chapter 4 withholding tax regimes.
  • Demonstrated ability to oversee complex tax matters.
  • Demonstrated strong leadership skills.
  • Experience integrating and communicating tax rules, transactions and businesses.


What's in it for you?
  • The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
  • A rewarding career path with diverse opportunities for professional development.
  • Internal development to support your growth and enhance your skills.
  • A competitive compensation and benefits package.
  • An organization committed to making a difference in our communities- for you and our customers.
  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!


Location(s): Canada : Ontario : Toronto

About Scotiabank

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Scotiabank Careers

Join Scotiabank, a premier financial institution, and become part of a diverse and inclusive team that’s leading the way in global banking. At Scotiabank, we offer more than just job opportunities; we provide a platform for professional growth and innovation in the financial services industry.

Work You’ll Do

At Scotiabank, we’re not just filling positions; we’re cultivating leaders. Dive into a workplace where diversity training and leadership development shape the path to your future. Our commitment to professional growth is evident in our robust training programs and continuous learning opportunities that foster innovation and strategic thinking.

Explore a World of Opportunities

Whether you’re looking for a full-time position, an internship, or a leadership role, Scotiabank has a spectrum of opportunities to fit your career ambitions. Our team is composed of individuals who bring a wealth of skills and perspectives to our company, driving us forward with their creativity and strategic insights.

Innovative Work Environment

Scotiabank’s culture is one of collaboration and respect, where each team member’s contribution is valued. Engage in meaningful work that challenges you to leverage your skills and push the boundaries of what’s possible in the banking sector. Our innovative projects not only support the growth of the company but also ensure our position as a leader in the industry.

Benefits and Growth

Choosing a career at Scotiabank means opting for a life of growth and opportunity. Our employees enjoy competitive benefits, including comprehensive health coverage, retirement plans, and flexible working conditions, all designed to support your career and personal life. We believe in nurturing our team’s potential by providing them with the tools they need to succeed both professionally and personally.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Scotiabank by searching our open positions that match your skills and interests. We are continuously hiring and looking for passionate, curious, and solution-driven team players.

Networking and Professional Development

Stay connected and advance your career through Scotiabank’s extensive networking opportunities. Participate in events that connect you with other professionals and leaders within the industry. Our career resources will help you prepare your resume, ace your interviews, and land the job that best suits your career goals.

Stay Ahead

Keep up to date with the latest in career tips, industry insights, and company news—all from the people who work here at Scotiabank. Personalize your experience by subscribing to job alert emails tailored to your preferences and be the first to know about new openings and exciting developments. Join Scotiabank and be part of a team that values integrity, respect, and accountability. Discover how your career can flourish in an environment committed to your professional development and personal growth.
Learn more about Scotiabank
Size
90,619 employees
Market Cap
$57.5 billion
Industry
Finance & Insurance
5 Year Trend
+7%
NASDAQ
BNS
* Ladders Estimates

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