Officer (Tax Analyst 1 - C09), APAC TIR Mumbai

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Officer (Tax Analyst 1 - C09), APAC TIR Mumbai

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Job Overview

The Tax Analyst 1 is a trainee professional role. Requires a good knowledge of the range of processes, procedures and systems to be used in carrying out assigned tasks and a basic understanding of the underlying concepts and principles upon which the job is based. Good understanding of how the team interacts with others in accomplishing the objectives of the area. Makes evaluative judgements based on the analysis of factual information. They are expected to resolve problems by identifying and selecting solutions through the application of acquired technical experience and will be guided by precedents. Must be able to exchange information in a concise and logical way as well as be sensitive to audience diversity. Limited but direct impact on the business through the quality of the tasks/services provided. Impact of the job holder is restricted to own job.

Responsibilities:

• Responsible for the overall management of the tax liabilities, of Citi, both directly and in connection with transactions with clients, including the related compliance, financial reporting, planning and controversy processes.
• Contributes to the planning, accounting, filing and the reporting of tax liability of the company.
• Assists in determining and compiling information required to satisfy income tax filing and related requirements at all levels of jurisdiction.
• May participate in managing payments to tax authorities in compliance with specific tax regulations.
• Directs small to medium-sized Finance operational/administrative team(s) of clerical or junior professional employees.
• Advises on procedures and concepts in technical/subject area and integrates with others in accomplishing the goals of the sub function/ job family.
• Improves process efficiencies in harmony of unit focus.
• Uses conceptual/ practical grounding in applying policies to the business.
• Perform other duties and functions as assigned
• Appropriately 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.

Qualifications:

• 2+ years of experience

Education:

• Bachelors degree

ROLE & 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:

1.FATCA/CRS reconciliation and reporting

2.1042s/1099 reconciliation and reporting

3. Project Related delivery

Percentage of Travel:

 No Yes, 10% of the Time Yes, 25% of the Time 

Yes, 50% of the Time Yes, 75% of the Time Yes, 100% of the Time

Relocation:

No

Other:

QUALIFICATIONS

Required

Preferred

Education:

The ideal candidate will have a BCOM/CA/MBA/ Other Finance Masters and 2- 3 years relevant work experience in Tax operations or related discipline

Masters

Experience:

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

Certifications:

NA

CA, CPA or an equivalent Tax qualification preferred

Skills:

• 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.

Project Management experience preferred

Other:

• 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

VBA, Knowledge of Macro’s read and write

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