Business Overview:

The ITO Tax Operations Group is responsible for establishing operational procedures and controls to comply with IRS regulations regarding US information reporting (i.e. 1099 and 1042S reporting). Tax Operations is responsible for maintaining tax documentation (i.e. W-8's and W-9's), withholding and remitting taxes to the IRS, and generating 1099 and 1042s reporting to clients and the IRS. The group collaborates with US Corporate Tax to assess the impact of new tax legislation and requirements, and engages with cross-functional resources to develop plans to respond and/or comply with new regulations. To the extent a new business process is required, Tax Operations develops business requirements and ensures local IT and operational procedures are enhanced to support new regulations. In addition, Tax Operations supports cost basis, transfer reporting and corporate action events by managing client data in the GENEVA portfolio accounting system.

Candidate Success Factors:

Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

• Results and Impact
  • Able to influence peers and team.
  • Demonstrates good judgement when making decisions of high complexity and impact.
  • Exercise appropriate autonomy in the execution and delivery of work. 
  • Responsible for driving outcomes, which have meaningful effect on team or department.
• Leadership and Collaboration:
  • Creates trust with colleagues.
  • Acts in leadership capacity for projects, processes, or programs.
• Client, Customer and Stakeholder Focus: 
  • Able to build relationships with a mix of colleagues and clients.
  • Interacts regularly with management and department leaders.
  • Demonstrates the ability to influence stakeholders at the team level. 
• Compliance Culture and Conduct: 
  • Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
  • Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.

Responsibilities: 

• Management and supervision of processes and tasks managed by the staff of the 2S US Custody tax divisions based in Chesterbrook, PA and Lisbon, Portugal
• Serve as initial point of contact for 2S US Custody client and relationship RM driven escalations
• Analysis of written tax policy and procedures, and management of procedural changes due to the result of operational enhancements or regulatory requirements
• Daily/Weekly/Quarterly/Annual validation of proper management of teamwide BAU processes, as well as related controls (as per related control frequency)
• Lead 2S US Custody tax operations with all client related RFP associated with the platforms pending prospective clients, as well as participate in calls with current 2S US Custody clients and relationship managers
• Outline clearly defined and articulated testing plan for year-end reporting, and maintenance of 2S US Custody tax season runbook/planner
• Management of monthly tax reporting simulations, as well as delegation and validation of fufillment of all year end production exception reports (thru internal sources, or exception reports provided by third party tax vendors)
• Review, validation, and approvals associated with weekly remittance to the IRS (Total tax remitted to the IRS in 2025 for the BSO/2S US Custody platform - $850MM USD)
• Coordinate with Business on problem resolution issues regarding cost basis, taxability withholding and reporting
• Weekly reporting regarding KPIs, incidents, and developmemt to NRA 2S US Custody BSO senior management and Head of ITO Tax Operations
• Mentor & coach junior staff in both Chesterbrook and LIsbon, focusing on the development and growth of direct and indirect reports
• Supporting cross training initiatives by training employees within the broader ITO Tax Operations team
• Coordinate with primary third party external tax vendor, Broadridge TMS, to ensure data integrity for all related workflows with the objective of accurate/timely reporting with respect to statutory IRS production deadlines
• Confirm accurate tax treatment of corporate action events utilizing third party vendor resources (CCH) assessing the material impact for cost basis tracking and reporting 
• Daily management of cost basis application for all corporate action events based on tax treatment, and maintain internal database of Corporate Actions events
• Supervise and assist with transfer reporting process with brokers and Agents via CBRS or paper statements (sending and receiving)
• Identify process enhancements and systems deficiencies
• Support 1099 and 1042-S tax form validation for the annual production check out process
• As required, assist with new client tax form validations (W9s and Series W8) using MD3 tax form validation application
• Contribution towards departmental obligations to adhere to strict regulatory and compliance requirements, per IRS and BNP Paribas policy.
• Support of IRS, as well as both internal & additional external audits
• Assist ITO Tax Operations management and Control Tower with research associated with any IRS 972-CG penalty notices or other related IRS correspondence associated with 1099 and 1042-S reporting issued by ITO Tax Operations
• Participate in broader BNP Paribas ITO Tax Operations RFPs reviewing serices and products offered by third party vendors

Minimum Required Qualifications:

• Bachelor’s degree in Accounting, Finance, Business or similar.  
• 10 years tax information reporting, withholding and tax document management experience  
• Strong knowledge and comprehension of Internal Revenue Codes Chapter 3, Chapter 4, and Chapter 61

• Understanding and expert knowledge of IRS Forms W9 and W8 as well as their associated requirements;Forms 1099 series, 1042-S; Forms 945 and 1042

• Highly ethical and control oriented mindset with strict adherence to organization and regulatory deadlines
• Strong team and leadership skills
• Innovative and adept at assessing opportunities for process improvements
• Excellent knowledge and understanding of tax accounting rules and regulations
• Strong communication, multi-tasking, analytical, and organizational skills
• Solutions-oriented thinker who is able to generate creative ideas
• Effective analytical, organizational, and problem-solving skills
• Strong verbal and written communication skills 
• Strong validation skills for reviewing large data sets to identify data integrity issues and patterns

Preferred Qualifications: 

• Experience and familiarity with global markets & non-US market tax reclaim services

• Experience in the development and deployment of reporting systems / tools 

FINRA Registrations Required:  

• Not Applicable 

CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required): 

• Not Applicable 

SEC Security-Based Swap Dealer Associated Person:

• Not Applicable 

While the description above describes our ideal candidate, we encourage applicants to apply even if they do not fully meet the complete list of qualifications noted.

The expected starting salary range for this position is between $140,000 to $240,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.

In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.

As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose - to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential. 

BNP Paribas. The Bank for a Changing World - https://usa.bnpparibas/en/homepage/join-us/our-opportunities/

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.

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