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Tax Compliance Expert - Executive Director- Wealth Management Operations
Morgan Stanley
New York, NY, United States
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Description
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.
Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.
Morgan Stanley Tax and Client Reporting Operations (TCRO) is a cross-divisional operational utility that supports Retail, Institutional, and Corporate business lines. Tax Operations is responsible for ensuring compliance with IRS & State Regulations related to US tax withholding, reporting, and filing obligations across Morgan Stanley's Retail and Institutional based clients and legal entities. Tax Operations works closely with senior Business Unit representatives and Financial Advisors, providing an in-depth client service role to insure that all tax related inquiries are addressed on a timely basis.
Tax and Client Reporting Operations is seeking an Executive Director on the Tax Compliance team. The role will report to the Head of Tax Compliance (Executive Director) based in New York. This is a challenging position that requires risk management skills, strong relationship skills and strategic program management skills as well as an advanced understanding of IRS regulations. This individual will be responsible for managing the current FATCA compliance program and building out the QI (Qualified Intermediary) compliance program in line with the recent regulatory guidance. The successful candidate will have strong tax technical knowledge and demonstrate the ability to understand tax regulations and facilitate the necessary operational processes and governance in order to ensure compliance.
The successful candidate will operate across all business units and functional areas within the firm and possess the following skills:
• Ability to operate across functional areas; including operations, technology, risk, and tax
• Risk focused with an understanding of various types of risk across the organization and client segment, with a strong focus on regulatory & franchise risk
• Regulatory compliance risk mitigation
Primary Responsibilities:
• Facilitates Responsible Officer Certifications and other sub certifications
• Communicates program status and regulatory changes to senior staff across the firm
• Identifies gaps and risks with current operating procedures, processes, and controls
• Provides training materials to employees and organize training distribution
• Develops and gathers metrics for managers within Tax Operations
• Organizes periodic internal reviews of compliance with regulatory requirements
• Registers, monitors and maintains Morgan Stanley's IRS FFI and QI list
• Management of a small team of tax operations and advisory professionals
• Monitor, update, and enhance the existing FATCA and QI Compliance programs to ensure it runs efficiently and in compliance with relevant regulations (existing and new)
• Develop, manage, and execute periodic compliance health checks
Qualifications/Skills Required
• Strong tax technical background (chapter 3, 4, 61, 871(m) etc)
• Ability to multitask and take ownership of complex issues
• Attention to detail and meeting deadlines
• Excellent verbal and written communication skills
• Good analytical and problem solving skills
• A good understanding of Operations, Technology, & Risk
• Ability to conduct themselves effectively with senior management
• Advanced MS Office skills, including MS Project/ MS Powerpoint
• Certification: Series 99 needed, but can be obtained