Operations Specialist, Tax Compliance

at  BMO Financial Group

100 King Street West Toronto Ontario,M5X 1A1
Job Description

Supports the business/group leader in the effective implementation, maintenance and administration of first line of defense (1st LOD) programs for QI, FATCA and CRS International Taxation Regimes, including overseeing business operations within the jurisdiction to ensure adherence and efficiency. Contributes to a strong risk management culture through collaboration with other first line employees, and second & third line functions to ensure Tax, or operational risks are identified, mitigated, monitored and reported on an ongoing basis.

• Supports multiple, similar business units with corresponding number of regulators.
• Assists with the implementation of tax risk management programs/ frameworks while identifying and minimizing negative impacts to the business.
• Develops and implements tax risk mitigation strategies.
• Acts as a subject matter expert in the evaluation, development and implementation of an internal control system.
• Builds effective relationships with internal/external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations for tax compliance to branch partners, compliance teams and business stakeholders.
• Monitors and tracks performance of QI, FATCA, CRS compliance program such as client documentation deficiencies, withholding tax applicable, process gaps, and addresses any issues.
• Monitoring to ensure that 1st line jobs are following defined processes and procedures.
• Develops documents and maintains business/group procedures updating and obtaining approvals as regulations or the operating environment changes and communicates changes to the business/group & relevant stakeholder groups.
• Tracks exception/exemption requests and corresponding approvals.
• Builds awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including making presentations, to promote a culture of risk identification and management.
• Works with assigned business/group leaders to implement 1st LOD programs and frameworks for QI, FATCA, CRS tax programs, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements. Interprets and provides advice on the application of the requirements for the business/group.
• Identifies, investigates, analyzes, documents & mitigates program risks, taking into account jurisdictional issues, and raises any issues or concerns to senior leaders and other stakeholders.
• Analyzes the impact and effectiveness of the program through periodic reviews.
• Supports the business/group through internal/external audits or regulatory examinations and assists in development of action plans to resolve any identified issues.
• Provides support to the development and delivery of training and awareness programs within the business/group to increase awareness of and compliance to risk management requirements.
• Focus is primarily on Private Wealth and InvestorLine business/groups within BMO; may have broader, enterprise-wide focus.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently on a range of complex tasks, which may include unique situations.
• Broader work or accountabilities may be assigned as needed.

QUALIFICATIONS:

• Typically between 4 - 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Program Management - Good.
• Knowledge of QI, FATCA, CRS regulatory tax regimes and reporting requirements – In-depth.
• Knowledge of Canadian Tax regulatory reporting and requirements would be an asset.
• Technical proficiency gained through education and/or business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.
• Data driven decision-making, including advanced Microsoft Excel and Access skills - In-depth.
• Experience with Global Plus, RIS, Broadridge would be an asset.

Please refer the Job description for details