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financial planning and advisory service manager
Title posted on CareerBeacon - Vice President, Client Tax Operations and Advisory
Posted on November 26, 2024 by Employer details Scotiabank
Job details
Requisition ID: 209869 We are committed to investing in our employees and helping you continue your career at Scotiabank. Purpose The VP, Client Tax Operations and Advisory will lead a centralized client tax operations and advisory center of excellence to optimize and standardize client and advisor experiences, including tax processing functions in GWM/GBM and proactively address any tax-related concerns, including new regulatory requirements. The position will be required to understand the complex, technical nature of client tax requirements in an operational setting to effectively communicate and simplify information to key internal stakeholders in GWM and GBM, Global Taxation, clients as well as external regulators, dealers, custodians, tax authorities, and auditors. This position will oversee Canadian and foreign tax regimes impacting our product and client operations and will ensure operational compliance with CRA, FATCA, CRS, IRS (QI, US filing) and other applicable regulatory tax requirements. This position will work with multiple stakeholders to enhance existing tax programs and improve client and advisor experiences, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies, and procedures in Canada and the US. Accountabilities Leads and drives a customer-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge. Provides leadership to the client tax operations and advisory center of excellence team for Global Wealth Management (SGAM and WM) and Global Banking & Markets, Canadian and International Banking (FATCA/CRS specific). Leads and oversees the production of timely and accurate client Canadian and US tax withholdings/remittance & reporting, the execution of controls across client tax lifecycle, the collection of client documentation & coding, the recording of income events, and reconciliations (income code etc.). Leads and oversees a governance and oversight framework for ensuring ongoing operational compliance of CRA, FATCA, CRS, IRS (QI, US filing) and other applicable regulatory tax requirements. Overall accountability for the delivery, execution and maintenance of the FATCA and CRS reporting program. Oversee the execution and maintenance of the enterprise FATCA/CRS reporting processes and control components. Develops and executes on a tax infrastructure modernization plan to improve existing resiliency, drive straight through processing and to meet future tax requirements. Leads remediation efforts of identified tax operations issues and gaps by recommending the best course of action to remediate and improving operational processes and procedures to avoid recurrence. In partnership with Global Taxation, reviews and defines requirements for upcoming new regulatory tax requirements and impact on business, operational and technical change. Leads and oversees a team responsible for tax compliance and tax operations for all proprietary mutual funds and private asset products. Lead tax advisory and planning on all new product creation/launches from end to end; including, but not limited to, initial due diligence to assess optimal fund structure, engaging with internal/external counsel to draft tax related disclosures in offering documents, collaborate with marketing/communication team to support external publications, direct relevant systematic set up within operational platform to the support the product, implement internal controls and procedures to support ongoing operation, reporting, and risk management for the new product. With oversight provided by Global Taxation, identify tax risks, establish and implement policies and controls to ensure the investment funds adheres to all existing and new domestic/foreign tax regulations. With oversight provided by Global Taxation, provide expert tax advisory and solutions to product develo- LocationToronto, ON
- Workplace information On site
- SalaryNot available
- Terms of employment Permanent employmentFull time
- Starts as soon as possible
- vacancies 1 vacancy
- Source CareerBeacon #2120990
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