Analyst, Tax Operations

About the role

Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.

Responsibilities

• 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, and special tax services (i.e. EDS elections, Tax reclaims and Acupay certifications)
• 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
• 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
• Work with the other teams to ensure HSS continue to provide a top quality services to our clients

Management of Risk

• 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

Observation of Internal Controls

• 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

Requirements

• Computer literacy and knowledge of Excel and Word
• Detail-oriented with strong problem-solving skills
• Good communication skills
• Strong overall knowledge of Domestic markets, with emphasis on Equity and Fixed Income products
• Minimum of a BA/BS degree or equivalent industry experience

Benefits

• Access to tailored professional development opportunities
• Robust Wellness Hub
• Industry-leading volunteerism policy
• Generous matching gift program
• Comprehensive program of immersive Sustainability and Climate Change Initiatives
• Employee Resource Groups for development and networking