Director, Tax Operational Risk - Finance

Scotiabank•Toronto, ON

2d•Onsite

About The Position

The principal purpose of this position is to lead enterprise-wide tax operational risk governance, with a focus on tax advisory in respect of implementation of tax regulatory regimes governing tax operations and tax information reporting and withholding. The role will also involve working with the VP, Capital Markets Taxation and Global Tax Disputes and Director & Head, U.S. Taxation.

Requirements

CA, tax lawyer, or equivalent, ideally with a minimum of 10 years’ experience including Financial Services tax advisory, with focused advisory experience in respect of QI/FATCA/CRS regimes, either in private practice and/or industry background; US tax advisory experience with US Chapter 3 and Chapter 4 withholding tax regimes.
Demonstrated ability to oversee complex tax matters.
Demonstrated strong leadership skills.
Experience integrating and communicating tax rules, transactions and businesses.

Responsibilities

Develop, with tax subject expertise input, governance frameworks and processes related to tax regulatory regimes including the Qualified Intermediary (QI), FATCA and the CRS regimes.
Provide enterprise-wide governance and advice in respect of tax compliance in the areas of tax onboarding, due diligence, and information, withholding, and reporting as related to QI and FATCA & CRS regimes.
Provide technical support to the QI project team, the responsible officer, and throughout QI audits and independent reviews for purposes of identifying and remediating material failures or events of default in BNS in respect of the QI regime.
Coordinate and liaise with the Bank’s business lines to drive enterprise-wide compliance in the areas impacting tax operations and onboarding related to QI, FATCA, and CRS.
Together with the Operations teams, support the creation and monitoring of tax relevant processes and in support of compliance with the information reporting and withholding regimes.
Provide tax technical support, oversight and governance of QI, FATCA/CRS and to ensure tax compliant implementation.
Lead the review of client tax forms and remediation requests and determining client tax status, particularly as related to QI, FATCA & CRS, and assist in same with respect to US withholding rules related to 871(m), 305(c), 304, 302, FIRPTA.
Lead the responses to counterparty requests for Scotia tax forms in relation to FATCA/CRS self certifications.
Lead responses to ad hoc client and counterparty inquiries regarding tax withholding, information reporting, and documentation requirements, with a primary focus on QI obligations, including withholding, reporting, and documentation matters. Provide guidance on FATCA and CRS requirements, as well as U.S. withholding tax rules, including Sections 871(m), 305(c), 304, 302, and FIRPTA.
Provide clear, timely, and accurate US tax analysis, risk assessment, and tax planning, consistent with the Bank’s reputational risk appetite. Monitor the developments of new capital markets or other business related strategies or structures. This will include providing advice and support related to US tax operational risks associated with US tax information, withholding, and reporting rules.
Review the ISDA tax language.
Provide support with any special project that may arise that may require U.S. tax advice.