Director – Securities Services US Tax Operations Manager

About the role

The ITO Tax Operations Group manages operational procedures and controls to comply with IRS regulations regarding US information reporting (1099 and 1042S reporting). This includes maintaining tax documentation, withholding and remitting taxes, and generating 1099 and 1042S reporting.

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 operational enhancements or regulatory requirements
• Daily/Weekly/Quarterly/Annual validation of proper management of teamwide BAU processes, as well as related controls
• 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 fulfillment of all year end production exception reports (through 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)
• Cookordination with Business on problem resolution issues regarding cost basis, taxability withholding and reporting
• Weekly reporting regarding KPIs, incidents, and development 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
• Cookordination 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
• Contribute 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 services and products offered by third party vendors

Requirements

• 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
• Knowledge of settlement systems/products used by BNPP, such as BPS, TMS (Tax Managed Services) and TDS (Tax Data Solutions), BANCs, or similar settlement and reporting systems
• 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

Qualifications

• Experience and familiarity with global markets & non-US market tax reclaim services
• Experience validating client tax docs (Forms W-8 series, Forms W-9) using MD3, and updating back office static data and referential data systems
• Experience in the development and deployment of reporting systems / tools
• Understanding of system requirements and capabilities to ensure appropriate controls and processes
• Proven track record of contributing to team oriented tasks and strategies, with the ability to identify client driven enhancements
• Advanced Microsoft Excel and Access experience and skills
• Ability to perform multiple tasks and meet established deadlines in a fast pace work environment with minimal supervision

Benefits

Our comprehensive benefits package includes 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, including 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.