AM/AVP/VP - FATCA Operations - Investment Bank

The Foreign Account Tax Compliance Act (FATCA) was created under the United States tax legislation, designed to prevent both US entities and individuals from evading US taxes. By signing an Inter-Governmental Agreement (IGA), financial institutions are required to identify financial accounts held by US residents and US citizens, or by entities that are organized in the US or controlled by certain US persons and to report that information to the Revenue Agency. All customers are required to be classified under the FATCA regulations, even if they are not connected to the US. In accordance with the IGA requirements, financial institutions began applying their due diligence procedures..

Types of duties will include:

- The role of the individual is to perform a range of administrative functions to support the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS).

- These tasks must be performed accurately and efficiently. The Operational Specialist will be responsible for maintaining an efficient routing, whilst meeting the banks operating standards and policies for processing and validating tax forms

- Accurately process and validate tax documentation through a set of compliance and group guidelines, supporting Commercial Banking (CMB) and Retail Banking and Wealth Management (RBWM)

- Classify the commercial account, confirming the correct tax code for CRA customer tax reporting

- Review tax reports to ensure that all customer classifications are accurately coded

- Annual reporting to Group Tax for customer tax status and annual validation processing

- Follow up with customers to obtain the tax documentation. This position is accountable to accurately and efficiently perform a range of administrative functions.

- This position is accountable to maintain an efficient routine while conforming to the banks operating standards and policies.