Citi Ops Support Assistant 2 in Dublin, Ireland
Primary Location: Ireland,Leinster,Dublin
Education: Bachelor's Degree
Job Function: Operations
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 17081265
• Working on the EMEA Markets Tax Operations unit within FRSS TIR, ensuring all tax exceptions in the Global Asset Servicing tool are monitored and actioned accordingly for various ICG Markets entities.
• Will also be responsible to ensure compliance with US Tax Withholding regulations and internal control guidelines.
• Frequent interaction with the traders as well as product control and the asset services team to provide guidance on Taxable Corporate Actions, so understanding the product and the issue is paramount.
• Validation of US Tax documentation using vendor software with linkage to account master and product processor.
• Control reconciliations of US reportable income across equity and fixed income business.
• Assist with Tax application enhancements/UAT.
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 will support Citi businesses and is expected to develop and enhance their product knowledge within a short timeframe. In addition, the incumbent may be expected to migrate information reporting functions from various businesses into FRSS; this process includes training and job shadowing, building documentation such as procedures and process flows, and identifying gaps in the process based on IRS regulations.
This position will work in a team-oriented environment. The key objectives are as follows:
• Exception management of CGM’s US withholding tax allocations process
• Issuance of CGM’s tax forms to clients/counterparties
• Provide assistance with annual 1099/1042s reporting
• Manage the documentation validation processes to a high standard and work with colleagues to ensure remediation of any issues that occur.
• Provide assistance to the desk and asset services team on market rules, taxation and documentation
• Be a point person for ad-hoc queries
• Assist with development and implementation of system enhancements and perform UAT testing
• Work as part of team to ensure all daily functions are covered to the highest standard with a ‘no surprises’ attitude
• Ensure that processes and responsibilities are correctly followed in line with procedures
• Follow core FRSS TIR processes and procedures
• Project Management skills will certainly be developed.
• Will be exposed to management skill sets that can be learned and used in advancement.
• Will be exposed to areas of the business, ie trading, that will give a more rounded understanding of the process and what is involved / required.
• Will be part of developing landscape supporting a growing organization and providing best in class service to our businesses and clients.
• Time management/prioritization skills will be enhanced due to the nature of the role and its challenges.
• Insight into multiple businesses within a large institution.
• Practical experience within the operations tax/asset servicing industry
• Familiarity with securities operations and workflows (Back-Office and Middle-Office) along with Knowledge of the supported/related business areas (Equities, Fixed Income, Derivatives, Settlements, Reconciliation).
• Experience of compiling data, defining, documenting control requirements and detailed procedures.
• Knowledge of rational and flow mapping tools would be advantageous as well as the preparation and execution of test scripts.
• Experience in an operations Tax/asset servicing environment.
• A wide variety of market knowledge
• (Preferable) Knowledge of the US tax regulations (including US and NRA, documentation, withholding and reporting) and the Qualified Intermediary Regulations.
• Ability to interact confidently with other divisions, at all levels
• Proactive and questioning nature
• Strong Microsoft Office skills
• Educated to degree standard preferable
• Practical experience in an operations environment
• Basic understanding of U.S. tax information reporting rules applicable to U.S. Persons and non-U.S. Persons
• Basic understanding and working knowledge of IRS Forms W-9 and W-8 and their associated requirements; Forms 1098, 1099 series, and 1042-S; Forms 945 and 1040
• Well versed in standard desktop technology with advanced Excel skills. Visio and Access experience preferred
• Strong attention to detail.
• Strong oral and written communication skills and ability to facilitate discussions
• Ability to interact professionally with senior people both in operations and the front office
• Ability to interact professionally with agents and foreign tax authorities.
• Quickly grasp and master new requirements and related knowledge
• Manage tight deadlines or unexpected requirement changes
• Ability to learn/understand some technical implications of system design
• Team player in both solid line and matrix reporting organizations
• Willingness to ask questions, challenge the process and seek out answers
• Ability to work independently, multi-task, take ownership and drive parts of the project
• Strong analytical and problem solving skills
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer