Tax Analyst

2 weeks ago


Mumbai, Maharashtra, India 12542 Citicorp Services India Private Limited Full time

The Tax Intermediate Analyst role is a developing professional position that requires a solid understanding of industry standards and practices. This role deals with most problems independently and has some latitude to solve complex problems. The ideal candidate will have a good understanding of how the team and area integrate with others in accomplishing the objectives of the subfunction/job family.

Key Responsibilities:

  • Manage the overall tax liabilities of Citi, both directly and in connection with transactions with clients, including related compliance, financial reporting, planning, and controversy processes.
  • Contribute to the planning, accounting, filing, and reporting of tax liability of the company.
  • Assist in determining and compiling information required to satisfy income tax filing and related requirements at all levels of jurisdiction.
  • Participate in managing payments to tax authorities in compliance with specific tax regulations.
  • Identify and resolve problems using autonomous judgment.
  • Implement workflow or process change and redesign, and use a thorough knowledge of the specific function.
  • Accountable for regular reporting or process administration as 'owner'.
  • Primary focus is on execution within defined parameters.
  • Assist in the management of one or more processes, reports, procedures, or products.
  • Direct day-to-day work of junior-level employees.
  • Exercise independence of judgment and autonomy.
  • Act as SME to senior stakeholders and/or other team members.
  • Assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets, by driving compliance with applicable laws, rules, and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct, and business practices, and escalating, managing, and reporting control issues with transparency.

Requirements:

  • 2-5 years relevant experience.
  • Bachelor's degree.

Objectives:

The Tax Intermediate Analyst role 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 Tax Information Reporting; 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.

Core Responsibilities:

  • Act as a tax/information reporting specialist to execute the FATCA & CRS advisory/rollout, Systems conversions/rollouts.
  • Execute the tax information reporting processes to products issued by Citi's business.
  • Migrate work into our centralized hub.
  • Develop 'Go To' processes and implement appropriate procedures/controls to ensure consistent compliance with Information Reporting & FATCA requirements.
  • FATCA and CRS operations – delivery of KPI & KRI's and Information reporting 1042s, 1099, 8966 and CRS reporting.

Day-to-Day Responsibilities:

  • Support Tax Information Reporting 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.
  • 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.

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