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22/05 Shambavi C
Consultant at Gi Group (Elixir Consulting)

Views:529 Applications:80 Rec. Actions:Recruiter Actions:11

Assistant Manager/Manager/Assistant Vice President - FATCA/CRS/Taxation - Banking (2-14 yrs)

Mumbai Job Code: 823715


We have an excellent opportunity with one of our banking client at Mumbai location.

Job Description :

- Business Group: Tax Information Reporting

- Function/Group: Tax Reporting

- Department: FRSS

Role and Responsibilities:

Business/Department Objectives:

- 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

Core Responsibilities:

- 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 requirements

- FATCA and CRS operations - delivery of KPI & KRI's and Information reporting 1042s,

- 1099, 8966 and CRS reporting

Day-to-Day Responsibilities:

- Support FRSS 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, 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

Financial/ Budgetary: No

Individual Contributor (IC)/Managerial IC

Key Deliverables:

- FATCA/CRS reconciliation and reporting

- 1042s/1099 reconciliation and reporting

- Project Related delivery

Qualifications :



- The ideal candidate will have a BCOM/CA/MBA/ Other Finance Masters and 2- 6 years of relevant work experience in Tax operations or related discipline


- Masters



- Bank/Financial Institutions knowledge: products, services, IRS regulations, Tax Operations



- CA, CPA or an equivalent Tax qualification preferred


Required :

- 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

Preferred :

- Project Management experience preferred

Other Required :

- 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

Preferred :

- VBA, Knowledge of Macro's read and write

Women-friendly workplace:

Maternity and Paternity Benefits

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