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Director, Tax Operational Risk - Finance
senior · Risk & Compliance
Requisition ID: 269780
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
The principal purpose of this position is to lead enterprise-wide tax operational risk governance, with a focus on tax advisory in respect of implementation of tax regulatory regimes governing tax operations and tax information reporting and withholding. The role will also involve working with the VP, Capital Markets Taxation and Global Tax Disputes and Director & Head, U.S. Taxation.
Is this role right for you? In this role you will:
- Develop, with tax subject expertise input, governance frameworks and processes related to tax regulatory regimes including the Qualified Intermediary (QI), FATCA and the CRS regimes.
- Provide enterprise-wide governance and advice in respect of tax compliance in the areas of tax onboarding, due diligence, and information, withholding, and reporting as related to QI and FATCA & CRS regimes.
- Provide technical support to the QI project team, the responsible officer, and throughout QI audits and independent reviews for purposes of identifying and remediating material failures or events of default in BNS in respect of the QI regime.
- Coordinate and liaise with the Bank’s business lines to drive enterprise-wide compliance in the areas impacting tax operations and onboarding related to QI, FATCA, and CRS.
- Together with the Operations teams, support the creation and monitoring of tax relevant processes and in support of compliance with the information reporting and withholding regimes.
- Provide tax technical support, oversight and governance of QI, FATCA/CRS and to ensure tax compliant implementation.
- Lead the review of client tax forms and remediation requests and determining client tax status, particularly as related to QI, FATCA & CRS, and assist in same with respect to US withholding rules related to 871(m), 305(c), 304, 302, FIRPTA.
- Lead the responses to counterparty requests for Scotia tax forms in relation to FATCA/CRS self certifications.
- Lead responses to ad hoc client and counterparty inquiries regarding tax withholding, information reporting, and documentation requirements, with a primary focus on QI obligations, including withholding, reporting, and documentation matters. Provide guidance on FATCA and CRS requirements, as well as U.S. withholding tax rules, including Sections 871(m), 305(c), 304, 302, and FIRPTA.
- Provide clear, timely, and accurate US tax analysis, risk assessment, and tax planning, consistent with the Bank’s reputational risk appetite. Monitor the developments of new capital markets or other business related strategies or structures. This will include providing advice and support related to US tax operational risks associated with US tax information, withholding, and reporting rules.
- Review the ISDA tax language.
- Provide support with any special project that may arise that may require U.S. tax advice.
Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:
- CA, tax lawyer, or equivalent, ideally with a minimum of 10 years’ experience including Financial Services tax advisory, with focused advisory experience in respect of QI/FATCA/CRS regimes, either in private practice and/or industry background; US tax advisory experience with US Chapter 3 and Chapter 4 withholding tax regimes.
- Demonstrated ability to oversee complex tax matters.
- Demonstrated strong leadership skills.
- Experience integrating and communicating tax rules, transactions and businesses.
What’s in it for you?
- The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
- A rewarding career path with diverse opportunities for professional development.
- Internal development to support your growth and enhance your skills.
- A competitive compensation and benefits package.
- An organization committed to making a difference in our communities– for you and our customers.
- We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.