BNP Paribas | Vice President

5 days ago


bangalore, India BNP Paribas Full time

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.


About Business line/Function:

Tax Operations sits within the Transversal Lifecycle teams for Processing and Support functions under GMO and provides support to Operational taxes in the bank like Withholding Tax, Transaction Tax, IRS regulations information reporting etc.



Current Role:


Job Role: Vice President (VP1) - Tax Operations

Location: Bengaluru, India

Department: Global Market Operations

Business Line / Function: Transversal Lifecycle Support - Tax Operations


Position Purpose

The incumbent in this role will be a part of the Global Tax Operations within GMO, supporting the Americas region.


Responsibilities

  • Management of tax reporting, withholding, and documentation processing for Prime Brokerage business line in strict compliance with IRC Chapters 3, 4, 61, 871(m), 305(c), and FATCA regulations.
  • Supervision of staff to ensure support of tax form collection during client onboarding/recertification, payment tracking and tax withholding processing, and submission of year-end 1099, 1042-S, 945, and 1042 reporting in line with regulatory deadlines.
  • Oversight of existing controls policies, support of IT system enhancement.
  • Essential duties and responsibilities include the following:
  • Daily contribution to the management of all incoming client and counterparties inquiries via team inboxes (i.e. tax form corrections, US NRA withholding tax reversals or tax rate adjustments)
  • Collaborate with internal business stakeholders such as PM teams, Internal Systems support, Front Office Personnel, Operations personnel, and US Corporate Tax
  • Support new client onboarding thru the review, validation, and referential data updates associated with W-8 and W-9 client tax forms submissions and related documentation according to IRS Chapter 3, chapter 61, and FATCA regulations
  • Support weekly reconciliation of accrued tax withholding, the IRS remittance process, and monitoring remediation of tax ledger cash reconciliation breaks
  • Coordination of all year‐end tax information for activities/products in scope and reporting of information in accordance with IRS requirements
  • Support preparation for year end production, and contribute to management and remediation of simulation exception report findings
  • Coordinate with the primary tax vendors utilized by the bank to ensure proper coordination and data integrity associated with income allocation data for UBOs associated with the bank’s Non-Withholding Foreign Partnership and Non-Qualified Intermediary client population
  • Support year end information reporting production in Q1 of each year in order to contribute to the bank’s requirement to fulfill timely and accurate production of Forms 1099 & 1042-S
  • Perform quality assurance reviews of year end income reclassification of dividend income paid by RIC and REIT issuers reported on Forms 1099 & 1042-S


Minimum Required Qualifications:

  • Bachelor’s degree in Accounting, Finance, Business or similar
  • Experience relevant to US tax information reporting, withholding and management of US client tax documents
  • Exposure and comprehension of Internal Revenue Codes Chapter 3, Chapter 4, and Chapter 61
  • Experience and familiarity with global markets


Preferred Skillset:

  • Knowledge of settlement systems/products, such as the Broadridge BPS settlement system, Broadridge TMS (Tax Managed Services) and Broadridge TDS (Tax Data Solutions), BANCs, and Intermediary Processing System (IPS) or similar settlement, tax allocation, and reporting systems
  • Experience validating client tax forms (Forms W-8 series, Forms W-9) using third party vendor systems (i.e. MD3, TAINA), providing tax rate instructions, and updating back office static data and referential data systems
  • Experience in the development and deployment of reporting systems and tools
  • Understanding of system requirements and capabilities to ensure appropriate controls and management of BAU activity
  • Proven track record of contributing to team-oriented tasks and strategies, with the ability to identify client driven enhancements
  • Advanced Microsoft Excel and database management (Alteryx, Tableau, Business Objects or similar) experience and skills
  • Ability to perform multiple tasks and meet established deadlines in a fast-paced work environment


Experience Level: At least 15 years



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