Share this Job

Please be advised that our Careers site will be unavailable from November 28 at 12am ET to November 29 12am ET for scheduled system maintenance.

Title:  Director, GWO Tax Operations Group

 

 

 

 

Requisition ID: 146122

 

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Why work for Scotiabank?
 

Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off.

This is a place where you’ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we’re passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank!

Global Banking and Markets

 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange, and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

 

Purpose

 

The role is responsible for all assigned aspects of Tax Operations and Tax Reporting. The incumbent shall serve as the lead in supporting the business groups in Canada and the U.S. regarding the interpretation and communication of FATCA, OECD Common Reporting Standard (CRS), Qualified Intermediary (QI), and other cross-border tax transparency regimes in connection with Scotiabank products and services.

The incumbent also has responsibility of working with Group Tax and Business Partners to address key risks, business requirements, and on-going maintenance of compliance and controls across the enterprise organization.

 

Main Accountabilities

 

As the subject matter expert, incumbent shall provide expert support to the business groups regarding the interpretation and communication of:

  • Chapter 3 and 4 of the Internal Revenue Code and related Treasury Regulations
  • Intergovernmental/automatic exchange of information agreements and CRS in connection with implementation and ongoing compliance
  • Implementing and maintaining a governance and oversight framework for ensuring ongoing FATCA, CRS and QI operational compliance
  • Responsible for maintaining and enhancing the compliance and controls framework in assigned jurisdictions and maintain a governance and oversight framework to ensure timely and accurate filings
  • Ensure business unit/group and tax processes and procedures are documented and up to date
  • Identify and provide management leadership in the remediation of identified gaps
  • Ensure maintenance of business unit issues/questions, including operational policies and assumptions
  • Develop and maintain issue and compliant review process and escalation procedures
  • Manage periodic compliance health checks and remediation of deficiencies
  • Coordinate activities and inquires of Compliance and Internal Controls
  • Participate in the periodic RO certifications with respect to ongoing compliance and reporting
  • Review and approval of internal and external communications and training materials
  • Review and prepare responses regarding communications from local tax authorities
  • Manage vendor and engage in industry forums to derive synergies, best practices, and efficiencies.
  • review and define requirements for upcoming new regulatory tax requirements and impact on business, operational and technical change.
  • build strategic relationships with and communicate to business units/groups
  • lead, direct, manage and assist in compliance testing and internal and external audits

 

Tax Reporting Functions

 

  • monthly reconciliation and review of Canadian tax and NRA Withholding
  • remittance to Canadian & Quebec government agencies of withholding taxes in accordance with defined pay dates
  • remittance to Internal Revenue Services for withholding taxes in accordance regulatory requirements
  • monthly reconciliation of client tax records on tax database to processing system
  • year-end tax process to finalize tax records, produce and mail, but not limited to, T5's, T5008, T3's, T5013, R3, R18, R15, NR4's, NR4's for Trust, 1042S, 1042, 1099
  • support new cost basis requirements including research and reporting
  • respond to client requests in standard and non-standard situations
  • provides services on a medium to high complexity level

 

Requirements

 

  • Knowledge of FATCA an CRS requirements, including providing guidance and reporting requirements
  • Knowledge of Qualified Intermediary (QI) compliance and related reporting requirements
  • Knowledge of income tax treaties, particularly with respect to withholding and permanent establishment issues
  • Knowledge of mutual funds, structured investment products, equities, securities borrow & lending activities
  • Knowledge of U.S. withholding certificates (e.g., W-9s, W-8s) and, but not limited to, 1099, 1042-S and 945 reporting and FATCA and CRS self-certifications

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.


Job Segment: Operations Manager, Tax, Database, Equity, Accounting, Operations, Finance, Technology