Tax Analyst

  • Negotiable
  • Whippany, NJ, USA Whippany NJ US
  • Permanent, Full time
  • Barclays - US
  • 16 Sep 18 2018-09-16

About Tax Operations Tax Operations is responsible for ensuring operational compliance with US Tax Withholding and Reporting (including cost basis) requirements as defined by the Internal Revenue Service and as directed by Barclays Corporate Tax. Key department functions include: Tax Documentation, Tax Withholding/Reporting, Tax Change Management and Cost Basis Reporting.

Overall purpose of role

The Tax Documentation team performs the collection, validation and maintenance of client tax documents per IRS regulation.

Key Accountabilities

  • Assist with driving department and firm tax operations efficiency via the identification, coordination and management of projects and initiatives;
  • Assist with multi-projects expertly despite potential constraints;
  • Assist with the facilitation of global annual W8 tax form renewal exercises;
  • Facilitate ad hoc tax form remediation exercises;
  • Provide workable solutions to ensure control environment is robust and lessons learned accordingly to prevent re-occurrence;
  • Ensure the Firm complies with all Onboarding and Remediation exercises as required by Regulatory Changes;
  • Evidencing performance and introducing efficiencies via production of the appropriate KRI's and KPI's for Management;
  • Collect appropriate tax documentation for Barclays investment bank client accounts
  • Validate all received documentation according to IRS regulations
  • Establish client account Tax classification under Ch3, 61 and FATCA regulations
  • Implement procedures based on direction and policies that are set by IRS and the Corporate Tax Department

Stakeholder Management and Leadership

  • Daily interaction with Barclays clients, salesperson and onboarding teams;
  • Present KPI to Tax Ops senior management regularly;
  • Liaise with Barclays Corporate Tax to troubleshoot key issues;

Decision-making and Problem Solving

  • Validate tax forms per IRS regulation;
  • Utilize tax knowledge to flag, prevent, remediate risk factors;
  • Communicate tax form validity issues to clients. Escalate to management when needed;
  • Utilize data to gain clarity of team volume, capacity, procedural issues and propose, drive resolution;

Risk and Control Objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

Person Specification

Essential Skills/Basic Qualifications:

Basic Qualifications:

  • Bachelors Degree
  • Experience of IRS Tax Form Validation, Reporting and Withholding. Have understanding of tax technical requirements, industry practices, and industry initiatives
  • 1+ years in the Financial Services Industry
  • Proficient in Microsoft Excel, PowerPoint, Word, & Visio

Desirable skills/Preferred Qualifications:

  • The successful candidate possess a natural flair for logical thinking and communication
  • Excellent verbal and written communication skills, with the ability to quickly adjust communication and presentation style to suit the audience
  • Excellent ability to manage workload to meet the team's business objectives
  • Dynamic and willing to challenge status quo, recommend improvements and pro-actively enhance current processes
  • An appreciation of risks arising with Operational Tax processes and an ability to articulate these to Management