Director – U.S. Information Reporting and Withholding Tax Expert

Business Overview:

Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.

The role is positioned within Strategic Business Development and Transformation (SBD&T), reporting to the Head of Client Lines Americas and centrally to the Global Head of Tax Services. Mandate is cross Clients Lines. Working with various stakeholders and with all CIB2S locations and interacting with different Business Lines and Functions.

Candidate Success Factors:
Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

Results and Impact
Able to influence peers and team.
Demonstrates good judgement when making decisions of high complexity and impact.
Exercise appropriate autonomy in the execution and delivery of work.
Responsible for driving outcomes, which have meaningful effect on team or department.
Leadership and Collaboration:
Creates trust with colleagues.
Acts in leadership capacity for projects, processes, or programs.
Client, Customer and Stakeholder Focus:
Able to build relationships with a mix of colleagues and clients.
Interacts regularly with management and department leaders.
Demonstrates the ability to influence stakeholders at the team level.
Compliance Culture and Conduct:
Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.
Job Overview:
This is a Director level role that will report to the Global Head of 2S Tax Services and Head of client lines in the US. Successful candidates will have experience with US taxation of banks, strong knowledge of US information reporting and withholding rules, including but not limited to Ch. 3, Ch. 4, Ch. 61 and the QI Agreement (US IRW).

Responsibilities:
Accountable for ensuring compliance of 2S with US information reporting and withholding tax regulations
Ensure that 2S and the relevant operations, IT and product teams comply with all relevant US information reporting and withholding tax regulations.
Work closely with the Operations, IT, products, etc. teams to review and enhance the end-to-end processes relating to the US tax withholding and reporting obligations (QI, section 871(m), US digital asset rules, etc.) for the full business of 2S and on worldwide basis.
Provide subject matter expertise for strategic projects, system enhancements and digital transformation initiatives related to US tax withholding and reporting.
Tax technical assistance of operational, products and client development teams on a day-to-day basis in coordination with Group Tax Department: act as 2S global subject matter expert for US information reporting and withholding tax matters, providing expert guidance, operational interpretation of the regulatory requirements and strategic guidance to Operations, Product, IT, Client Development and senior management, setting technical direction and driving consistent decision-making across 2S.
Develop and deliver training and awareness programs to operations, products, client development and other stakeholders in the US withholding tax and information reporting requirements.
Ensure that 2S is timely and duly withholding tax at the correct rate on payments made to clients and that the necessary documentation and reporting requirements are met.
Identify and mitigate risks associated with non-compliance with US information reporting and withholding tax regulations by ensuring that the proper control framework relating to US withholding and reporting activities has been implemented by the relevant 2S teams.
Participate in QI external audits and to the internal QI/QDD sub certification process as an expert.
Participate in the discussion for 2S (in collaboration with Group Tax Department) with the IRS.
Coordinate with Group Tax Department to ensure that tax updates are provided to the key 2S stakeholders.
Lead the assessment and implementation, in coordination with Group Tax Department, of regulatory changes impacting US withholding tax and information reporting obligations, ensuring timely translation of regulatory requirements into operational processes, systems and controls.
Participate with the Group Tax Department in the discussions in the market relating to asset servicing: acts as 2S subject matter expert for US tax matters within the asset servicing industry, engaging with market participants and industry bodies.

Minimum Required Qualifications:
15 years of related experience in a law firm or major financial institution.
Professional standing, strong interpersonal communication skills, and presentation skills.
Technical leadership: providing expert guidance, setting technical direction and driving consistent decision-making across the organization
Regulatory knowledge and interpretation
Influencing & Stakeholder Management
Transformation program experience
Leadership & Change Management experience
Effective analytical, organizational, and problem-solving skills
Strong verbal and written communication skills
Knowledge regarding custody operational processes and operating models

Preferred Qualifications:
LL.M degree or equivalent
Juris doctor, CPA (or equivalent) and/or master’s in taxation.
FINRA Registrations Required:
Not Applicable
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):

Not Applicable