Tax Specialist

2 weeks ago


mumbai, India Citi Full time

The Tax Specialist 5 performs relatively complex assignments. Has direct impact on the business by ensuring the quality of the tasks or services provided. Works under little to no direct supervision. May service an expansive and/or diverse array of products/services. Applies working knowledge of technical and professional principles and concepts and in depth knowledge of team objectives. Understands how assigned duties contribute to the work of the team/unit and how the units coordinate their efforts and resources to achieve the objectives of the function. Ensures the quality and service of self and others. May recommend new options to enhance productivity in accordance with guidelines. Requires tact and diplomacy when exchanging complex or sensitive information with others. Is sensitive to audience diversity. Basic knowledge of the organization, the business and its policies required. Typically responsible for resolving basic to moderately complex problems based on practice and precedence. Able to assess applicability of similar experiences and evaluate options under circumstances not covered by procedures.

Responsible for in-scope processes related to one or multiple Citi lines of business within the centralized Tax Information Reporting function in FRSS. This position supports the reduction/elimination of Citi's franchise & regulatory risk through accurate and timely reporting and enhanced due diligence on customer accounts. The incumbent is expected to migrate information reporting work from various sub-units within the Business Line into FRSS; this process includes training and job shadowing, building documentation such as procedures and process flows, and identifies gaps in the process based on IRS regulations. In addition, the incumbent will support a specific business vertical and is expected to develop and enhance their product knowledge within a short timeframe.
This position will work in a team-oriented environment.

Act as a tax / information reporting specialist to execute the FATCA, CRS advisory/

rollout, Systems conversions/rollouts.

Executes the tax information reporting processes to products issued by Citi’s business Migration of work into our centralized hub Develop "Go To" processes and implement appropriate procedures/ controls to

ensure consistent compliance with Information Reporting & FATCA, CRS requirements

Support FRSS's Service Delivery / Engagement model with client constituency and other

key stakeholders

Identify and participate in process reengineering & redesign to achieve better controls,

compliance and efficiency

Support audits with IRS and Internal Audit (IA), and any other special audits. Participate in self-assessment testing, MCA, SOX controls as well as any audits with IRS

Or Citi's IA.

Ensure tight controls over owned processes to include key controls and COB Review, validate and process W-8 and W-9 tax forms and related documentation

according to IRS Chapter 3, chapter 61, and FATCA regulations besides CRS.

Support Technology projects from a technical tax perspective Contribute towards departmental requirement to adhere to strict regulatory and

Compliance requirements, per IRS and Citi policy.

Perform reviews of written tax policy and procedures, research and respond to

inquiries from operational areas

Handle Tax reporting for US and Non US legislations.

1.FATCA/CRS reconciliation and reporting

2.1042s/1099 reconciliation and reporting

3. Analytics and Commentary

4. Project Related delivery

Qualifications:

1-3 Years of Experience

Education:

High School diploma or equivalent Basic Understanding and working knowledge of IRS Forms W-9 and W-8 and information reporting rules, FATCA and CRS. Ability to act as a change agent for organization.

Project Management experience preferred

Strong MS Office skills particularly Excel Quick learner with excellent communication skills, team orientation, and ability to work with counterparts in different areas of organization

VBA, Knowledge of Macro’s read and write

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Job Family Group:

Finance

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Job Family:

Tax

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Time Type:

Full time

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