Operational Risk Consultant 5 - Tax Consultant

Wells Fargo   •  


11 - 15 years

Posted 248 days ago

This job is no longer available.


Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience. 


Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. 


Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.

It starts with you. Our goal is to attract, develop, retain and motivate the most talented people - those who care and who work together as partners across business units and functions.  We value and promote diversity and inclusion in every aspect of our business and at every level of our organization.

At Wells Fargo, we invest in our people. Our diverse lines of business offer unique opportunities to expand your knowledge and advance your career.

Corporate Risk provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, this group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.


This position is within the Wholesale Tax Group to help the Wholesale lines of business (LOBs) meet its regulatory requirements related to customer tax information reporting.  Essential responsibilities include but are not limited to the following:

  • Responsible for assisting with existing programs, or developing, implementing and monitoring tax risk-based programs to identify, assess and mitigate any tax related operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency.
  • May provide oversight to a tax risk program. Works with the most complex business units and provides tax risk expertise and consulting for projects and initiatives with high risk, generally spanning multiple business lines.  May work closely with the Customer Tax Center of Excellence.  May work closely with the Tax Governance Team.
  • Help ensure payment matrix implementation, LOB integration into the Customer Tax Center of Excellence, gap closure for tax risk reduction program and corrective action activity are coordinated and aligned to overall goals of the Wholesale Tax Program
  • May consult with businesses to develop corrective action plans and effectively manages change. Reports findings and develops business cases to influence executive management or management committee member/head of business on the need for controls to mitigate risk.
  • Works closely with Wholesale Tax Coverage Officer team and Customer Tax Center of Excellence to advise LOBs on tax requirements under different tax regimes (i.e., Chapter 61-Back-up, Chapter 3- NRA and Chapter 4-FATCA) for onboarding, withholding and reporting purposes
  • Serve as a tax subject matter expert on customer tax matters, including systems’ enhancements, changes in procedures and other items, as needed
  • Respond to inquiries regarding U.S. Federal and State tax requirements, as requested
  • Conduct technical research on various tax topics including U.S. tax certification Forms W-8 and W-9, tax Forms 1099 series and 1042-S, Cost Basis for equity and debt instruments, Presumption Rules and sourcing of payments
  • Review and accurately interpret IRS regulations, PLRs, memorandums and Treasury decisions to support tax decisions made by our LOBs on. tax withholding and reporting matters, as needed
  • Identify and provide input to mitigate tax risk and estimate any potential exposure to IRS penalties and other liabilities
  • Ensure the tax positions taken by the LOBs are thoroughly and contemporaneously documented, preparing research memos, reports, talking points, FAQs, etc. as needed
  • Prepare executive level presentations as needed
  • Leads project/virtual teams and mentor lower level staff.

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through our many locations, ATMs, the internet (wellsfargo.com) and mobile banking. To learn more, Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.


Required Qualifications

  • 10+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 10+ years of IT systems security, business process management or financial services industry experience, of which 5+ years must include direct experience in compliance, operational risk management, or a combination of both

Desired Qualifications

  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization
  • Knowledge and understanding of tax: reporting, filing, remittance, processing, initiatives, and strategies
  • Ability to make timely and independent judgment decisions while working in a fast-paced and results-driven environment
  • Ability to negotiate, influence, and collaborate to build successful relationships
  • Ability to identify key issues, involve affected parties, design solutions, obtain buy-in, and communicate effectively through resolution
  • Experience working in a large enterprise environment
  • Ability to interact with all levels of an organization

Other Desired Qualifications

  • Demonstrates technical knowledge on U.S. tax onboarding, reporting, withholding and required tax compliance (i.e., Chapter 61-Back-up, Chapter 3- NRA and Chapter 4-FATCA)
  • Juris Doctorate, Masters of Taxation or Certified Public Accountant (CPA) or equivalent certification
  • Prior experience with major accounting firm, law firm, financial services company or multinational company
  • Leadership experience with senior management interaction
  • Demonstrated strong verbal and written communication skills to convey complex tax issues, opportunities and risks to non-tax experts in a clear and concise manner