The U.S Tax Operation’s team provides various U.S Tax Services on behalf of BNP Paribas New York branch and its US Custody clients.
The position includes the management of a group of tax professionals responsible for NRA withholding and remittance, 1099 and 1042s taxreporting and reconciliation, development and management of system tax rules, allocation of withholding rates, special tax services (i.e. EDS elections and Tax reclaims), and projects designed to improve the US and global taxreporting/withholding capabilities of the custody system.
The candidate will be responsible to:
- Manage a growing team of professionals who provide taxreporting services to BNP Paribas internal and external clients
- Perform tax watch and client communication for any impacting change in the tax environment
- Update our system for tax related matters (documentation, clienttax id, tax board …)
The candidate will play a key role in the growth of the US Custody business line and serve as a strategic contact and support role in the tax management for internal and external clients, auditors, exchanges and third party vendors.
Management Responsibilities will include:
- Management of a growing group of tax professionals along with “hands on” assistance in daily operational processes such as: NRA withholding, reconciliation of withholding tax and income/exemption codes, tax matrix updates and correct interpretation of U.S. tax legislation and regulations
- Ensure the ongoing development and maintenance of written supervisory procedures and adherence to all US regulations as related to the services offered, along with the adherence to internal bank and business line procedures and policies
- Perform Tax Market Watch functions: identify/monitor and analyze information regarding relevant U.S. tax legislation as well as Internal Revenue Code and U.S. Treasury Regulation changes which impacts BNP Paribas and BNP Paribas’ U.S. custody clients.
- Management of client communications via the issuance of Market Updates/Newsletters
- Ensure client queries are replied timely by the team
- Manage relationships and service level agreements with our Tax vendors
- Initiate change management to adapt solutions and resources to a rapidly evolving business including the management of and/or change to workflows to ensure efficient and timely processing and adherence to new tax regulations
- Participate as a tax subject matter expert in client meetings related to sales prospects and due diligence visits, onboarding process and request for proposal (RFP)
- Answer internal and external audit requests
- Participate to market place Tax Committees (such as SIFMA) and ad hoc taxworking groups to keep abreast of important tax issues.
Minimum required qualifications:
- BA required
- Minimum 8-10 years financial industry experience with an emphasis on local and global custody and a minimum of 3 to 5 years managing tax for custody activity
- Proven and strong experience in TaxReporting
- Client facing experience
- Proven ability to lead, mentor, train, manage and motivate staff
- Strong knowledge of US security products as it relates to US taxation
- Self-motivation and demonstration of initiative
- Extremely detailed orientated
- Proven ability to manage multiple priorities while respecting tight deadlines
- Well-developed written and verbal communication skills to represent the group at senior levels to internal and external clients
- Excellent analytical skills and problem solving skills