Analyst, Tax Operations

HSBC Global Services Limited • Jersey City, NJ

6d • Onsite

About The Position

The purpose of HSBC is opening up a world of opportunity. In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position. The position includes the daily oversight responsibilities for NRA withholding and remittance, 1099 and 1042s tax reporting and reconciliation, development and management of system tax rules, allocation of withholding rates, special tax services (i.e. EDS elections, Tax reclaims and Acupay certifications).

Requirements

• Computer literacy, knowledge of Excel and Word, detailed oriented, good problem solver, should have good communication skills
• Must have strong overall knowledge of Domestic markets, with emphasis on Equity and Fixed Income products
• Minimum of a BA/BS degree or equivalent industry experience

Responsibilities

• Daily analysis and processing of Chapter 3, Chapter 4, and Chapter 62 withholding on CA/Income events
• Reconciliation of withholding tax and income/exemptions codes reported to the clients
• Communicating and processing elective dividends through the depository with respect to foreign withholding rates
• Client certification of foreign positions through the use of external platforms such as Acupay
• Ensure the ongoing development and maintenance of written procedures and adherence to all US regulations as related to the services, along with the adherence to internal banks and business line procedures and policies
• Reconcile and prepare client 1099 and 1042s forms
• Analyze, review, and update client Cost Basis for securities held in Arranged Finance accounts
• Communicate tax-related changes that have impacted on information, documentation, reporting and withholding regulations to clients via the issuance of Market Updates/Newsletters
• Provide support and guidance to all internal tax related areas with respect to tax related queries
• To contribute to the maintenance of an effective quality service and reduce client risk to a minimum by ensuring that all work is processed within agreed timelines and complex client queries are responded to efficiently
• To work with the other teams to ensure HSS continue to provide a top quality services to our clients
• Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations
• Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues
• Each employee must promote an environment that supports diversity and reflects the HSBC brand
• Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments
• Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy

Benefits

• tailored professional development opportunities
• competitive pay and benefits package
• robust Wellness Hub
• welcoming and inclusive work environment
• industry-leading volunteerism policy
• generous matching gift program
• comprehensive program of immersive Sustainability and Climate Change Initiatives
• Employee Resource Groups

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level