Vice President- Tax Product Manager, Custody

Tax Product

Tax Product is a key product horizontal within Custody Services, a leading provider of global custody and local custody services to cross border institutional investors and intermediaries.

Tax Product is responsible for defining and executing on a product roadmap for tax services delivered to cross border institutional investors. The product roadmap includes defining tax reclaim, reduction at source and CGT services; managing cost of production across global hub and country locations; defining and executing on a global technology strategy; tracking and responding to regulatory changes; and implementing and executing on a risk and control framework.

Key Responsibilities of the Tax Product Manager/ Developer

The Tax Product Manager is expected to contribute towards the development of short and long-term objectives for Citi’s tax product offerings, technology and operations strategies, and to drive change in partnership with global and regional stakeholders. The Product Manager is responsible for driving consistency in execution of the product strategy across countries and operational hubs. To be successful, the Tax Product Manager must have a strong understanding of both cross border institutional clients and global market tax practices and regulations.

The Tax Product Manager responsibilities include the following:

Product

·Defining tax servicing and client delivery standards for global and local custody services in partnership with Regions, Operations, Corporate Tax and other stakeholders

·Executing on the tax strategy in partnership with Technology and Operations

·Following market, industry and client trends to own field and adapts them for application Citi’s products and solutions platforms

·Managing client and competitor market research and developing product innovation roadmap

·Providing an enhanced client services function within Tax Product and supporting key clients on tax related issues

·Monitoring tax changes globally for impact on clients or services and, when necessary, implementing strategic solutions

·Developing a market advocacy program for tax services that demonstrates industry and local market leadership

·Defining strategies for data governance and data services in partnerships with the Securities Services Data Program

·Participating in industry initiatives relating to tax services and the application of new technologies

·Representing Citi Securities Services in industry forums and conferences

Operations & Technology

·Understanding total cost of production and maintaining an operations and location strategy in partnership with Operations

·Executing on a move-to-common technology strategy in partnership with Technology

·Defining, prioritizing, and managing an annually defined technology book of work with Regions, Operations and Technology

·Partnering with global shared services utilities that provide centralized tax related services such as FATCA processing

Risk & Control

·Developing and executing on a governance framework to continually identify and remediate process risk points

·Execution of due diligence program across central processing hubs and branch locations

·Implementation of appropriate MIS, monitoring capabilities, and MCA tests

The ideal candidate should have a proven success record in financial services, custody services or tax consulting. The candidate should be able to demonstrate a track record of project managing a complex product set with a hands-on leadership style.

Qualifications

Experience, Skills and Capabilities

·Minimum 5+ years financial industry experience with an emphasis on tax services and custody

·Understanding of global tax regulations

• Strong conceptual understanding of general withholding tax concepts and rules and fundamental aspects of U.S. taxation of non-resident aliens (“NRAs”), including Qualified Intermediary Agreements, the Foreign Account Tax Compliance Act (FATCA) regulations and Intergovernmental Agreements (IGAs);

• Strong understanding of required U.S. and international tax documentation requirements (e.g., FATCA /NRA, Forms W-8 and W-9) and tax reporting;

•Strong conceptual understanding of U.S. withholding and reporting matters, including but not limited to, Sections 871(m) and 305(c).

·Understanding of tax related operational processes such as reduction at source and tax reclaim processing

·Excellent interpersonal and communication skills

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