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Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve.

Tax Information Reporting (TIR) is responsible for end-to-end client tax activities including validation of client tax certifications, withholding, information reporting under Internal Revenue Service, Foreign Account Tax Compliance Act (FATCA), and Common Reporting Standard (CRS) regimes, Citi-wide governance, and US non-income tax including sales & use tax, personal property tax, and others.

This candidate will lead operational Tax Advisory, Assurance and Standardization functions within the centralized Tax Information Reporting (TIR) team in Core Operations within Citi’s Chief Operating Office and partner with the Global Head to drive the strategic agenda for Tax Information Reporting. The incumbent will be responsible for:

• Leading a team of senior professionals providing advisory support to a 300+ FTE Org responsible for tax information reporting functions under the IRS, FATCA, CRS, and certain local regimes, including US non-income tax (sales, use, personal property). Includes driving Citi’s TIR Tax Technical advisory agenda and partnering with Corporate Tax to ensure delivery of required tax technical guidance to Citi’s business and TIR Operations on significant advisory matters including new/changes to exiting requirements.

• Global Citi-wide governance and assurance of end-to-end activities that contribute to world-wide compliance of Tax Information Reporting. This includes support, oversight and assurance over Citi’s robust Qualified Intermediary Compliance Program, governing Citi’s FATCA Responsible Officer certification program and performing other assurance activities over Corporate Tax issued technical guidance implementation.

• Leading a unit focused on governance and standardization of controls and implementation of control related programs, and other initiatives as it pertains to TIR.

The role directly reports into Citi’s Global Head of Tax Information Reporting and will also represent the Global Head in numerous senior forums, interactions, issue management, as well as internal and external audit management. This position will be responsible for directly managing a staff of tax professionals in a team-oriented environment. Ideal candidate will bring a unique blend of broad and deep business operational knowledge across banking and securities products combined with deep tax technical expertise related to these.

Key Objectives:

• Directly Lead a team of 15-25 tax information reporting professionals in the 3 Citi Service Centers globally; in role of representing Global Head, influence an Org of 300+ direct and 120+ contractors

• Providing tax technical advisory support to a 300+ FTE Org responsible for tax information reporting functions under the IRS, FATCA, CRS, and certain local regimes, including US non-income tax (sales, use, personal property).

• Staying up to date on new and changing Regs and emerging landscape, and assessing tax authority notices, guidance and other market material to determine potential impact to Citi’s businesses and operations.

• Act as an internally and externally recognized subject matter leader, partner with TIR Ops colleagues to influence the design of effective and efficient processes, influence organizational changes as required with partners across all of Citi’s core businesses (US Personal Banking, Markets, Securities Services, Treasury & Trade, Markets or Banking).

• Develop and govern implementation of guidance/procedures/controls to ensure consistent compliance with US Information Reporting (1099/1042-S etc.) & FATCA/CRS requirements including timely implementation of regulatory changes in operational processes, controls, and technology

• Management of a Firm-Wide TIR process owner inventory, ongoing execution of attestation and targeted review process for adherence to TIR policies and guidelines, providing QI responsible officers with support as part of the Citi QI compliance program

• Represent Citi as a participant and panelist at industry forums, round tables, and vendor sessions. Design TIR training and other content to increase depth and breadth of talent in the operational locations (covering Tax, Business and Product SME).

• Work closely with Global Head on TIR global strategy encompassing talent, location, controls and technology.

• Provide timely feedback, escalation and reporting to key stakeholders; co-chair Citi-wide Steering Committee meetings, QI Governance and other tax risk forums with Corporate Tax and business partners

• Drive a team of professionals performing process reviews to ensure processes are lean and efficient with standard control framework

• Support and/or lead audit interaction with IRS, local taxing authorities, and Internal Audit and support any other special audits including Qualified Intermediary (QI) periodic reviews; support certain tax controversy matters including penalty and withholding assessed liability disputes from an advisory perspective

• Support Global Head in developing Global Technology strategy in support of Tax Information Reporting requirements and efficiency levers

• Review TIR gaps identified and escalated to Global Head and work closely with businesses, Corp Tax, and operational units to provide guidance on determining scope, dimensioning exposure, and assessment of risk. Provide input on requirements to close gaps prospectively and work closely with internal and external Counsel on determining requirements for prior year remediation

• Leading and driving employee engagement and talent management initiatives

• Build strong working relationships with various partners (Technology, Businesses, Legal, Citi Tax, etc.).

• As required, provide leadership and input on all business (internal and external) communications as it pertains to FATCA, CRS or any other TIR matters

• Engage with most senior business partners (COOs and Product or Business Heads) on contributing to prospective new business RFPs by supporting our TIR senior leadership team as required; engage heavily with TIR Global Head on capabilities and/or impacts related to new product approvals, and/or input to influence new or changing Corp Tax guidance as it relates to Tax Information Reporting matters.

• Engage with Corporate Tax Planning on TIR business impact assessment of Citi structure changes.

• Adhere to budget and headcount requirements and maintain productivity plan and goals

Qualifications/Skills

• 12+ years of leadership and or Advisory experience in U.S. tax information reporting (IRS Chapter 61, 3, 4 and related Regs) and/or other global operational taxes; 15+ years of leadership experience in financial services

• Expert understanding of U.S. tax information reporting rules applicable to U.S. Persons and non-U.S. Persons and the Qualified Intermediary IRS regime; strong understanding of market practices

• Strong knowledge of other global operational taxes including value added (US Sales, Use, VAT, GST), US personal property and gross receipts tax regimes

• Expert understanding of IRS Forms W-9 and W-8 and their associated requirements; Forms 1098, 1099 series, and 1042-S; Forms 945 and 1042

• Expert understanding of Foreign Account Tax Compliance Act (FATCA) regulations, inter-governmental agreements (IGAs), Common Reporting Standard (CRS) and associated reporting requirements; understanding of differing requirements between USFI’s, FFI’s and Foreign Branches of USFI’s

• Exceptional relationship management to drive engagement and close interactions with key stakeholders including Corporate Tax, Business Heads, and O&T managers in an environment where priorities frequently change

• Proven ability to act as a change agent for organizational and product transformational initiatives; exceptional influencing, communication, and presentation skills to influence change in upstream areas

• Experience in interacting, managing senior level interactions related to audits (internal, external, regulatory); exceptional influencing skills to influence change in upstream areas

• Highly developed problem analysis, solution development skills and execution skills, ability to anticipate risks and issues and address to prevent

• Proven ability to lead and develop high performing teams and drive employee engagement, & mentoring.

Job Family Group:

Finance

Job Family:

Tax

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Full Time Salary Range:

$250,000.00 - $500,000.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date:

Aug 28, 2024

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.