Tax Product Manager

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Job description

Are you ready to explore a world of possibilities?

Join our DTCC family, and you'll grow your expertise and become the best version of you. As you embark on a new journey, you'll be supported and surrounded by other professionals as you learn new skills, advance your career, and see the impact of your efforts every day.

Pay and Benefits:

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Retirement benefits
• Paid Time Off and other leave of absence
• Flexible/Hybrid Work Arrangements

Why you'll love this job:

A Product Manager with-in DTCC's Corporate Tax Department has responsibility for ensuring DTCC's various business lines are in compliance with tax withholding and reporting regulations and for managing and growing the Global Tax Services business. The business lines include helping clients comply with their US tax withholding obligations and for investors to obtain favorable tax withholding rates on non-US securities held at DTCC.

We are looking for someone with keen business analysis and communication skills to draft and present business requirements on complex tax regulations and solutions to both internal and external partners for ratification.

What You'll Do

• Conduct analysis of withholding and reporting tax regulations, income tax treaties and new issue prospectuses to identify service expansion opportunities
• Provide day-to-day tax support to Operations on withholding tax matters, including reviewing cash and stock mergers to identify events subject to section 302 processing
• Collaborate as the need arises with product managers, Operations and in-house counsel to develop service improvements and/or compliance procedures
• Participate in cross-functional project team meetings to ensure project strategy and operational issues are reviewed
• Planning and coordination of DTCC's annual tax conference
• Act as a key product member in an Agile squad and partnering with internal teams for implementation of new features ensuring that all proposed changes are reviewed, feedback is incorporated and any impact is fully communicated to internal and external partners
• Generates revenue forecasts reports from internal systems, reviews product line P&L on a monthly basis
• Finds opportunities to increase revenue or reduce costs within the business
• Act as main business contact for internal control functions, operations and technology teams
• Identifies potential risks to achieving project objectives and elevates to appropriate management
• Documents requirements in a clear and consistent manner through JIRA and other tools
• Ensures the product development methodology process vis a vis specific projects is followed, i.e., ensures stage-gate process is followed (specific DTCC internal methodology)
• Expected to be SME in an area of the product and, where required, to attend meetings with clients to help with product area of expertise
• Mitigates risk by following established procedures and monitoring controls, spotting key errors and demonstrating strong ethical behavior.

**NOTE: Responsibilities of this role are not limited to the details above. **

Sound Like You?

• Minimum of 7 years of related experience
• Bachelor's degree preferred with Masters or equivalent experience

Additional Qualifications

• Excellent presentation, writing and verbal communication skills, including delivery of executive presentations and building slide decks
• Knowledgeable with various US tax withholding regulations such as 1441, 1446, 871(m), 305(c), 302, and 1099 / 1042-S reporting
• Knowledge of U.S. and global securities market practices as they relate to income processing, associated tax implications and tax relief/reclaim procedures with respect to ADRs and other DTC eligible foreign securities
• Ability to review corporate action events and determine tax withholding obligations, (e.g. if an corporate action is subject to section 302 procedures)
• Ability to communicate information effectively both verbally and in written form for internal and external audiences

Who We Are:

DTCC is the heart of the post-trade market infrastructure for the global financial services industry. From 21 locations all over the world, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. In 2020, DTCC's subsidiaries processed securities transactions valued at more than U.S. $2.3 quadrillion.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

About DTCC

DTCC safeguards the financial markets and helps them run efficiently, in times of prosperity and crisis. We are uniquely positioned at the center of global trading activity, processing over 100 million financial transactions every day, pioneering industry-wide, post-trade solutions and maintaining multiple data and operating centers worldwide. From where we stand, we can anticipate the industry's needs and we're working to continually improve the world's most resilient, secure and efficient market infrastructure. Our employees are driven to deliver innovative technologies that improve efficiency, lower cost and bring stability and certainty to the post-trade lifecycle.

DTCC proudly supports Flexible Work Arrangements favoring openness and gives people freedom to do their jobs well, by encouraging diverse opinions and emphasizing teamwork. When you join our team, you'll have an opportunity to make meaningful contributions at a company that is recognized as a thought leader in both the financial services and technology industries. A DTCC career is more than a good way to earn a living. It's the chance to make a difference at a company that's truly one of a kind.

Finance is one organization composed of ten functions forming the financial backbone of DTCC, leaders who stand at the forefront of DTCC's competitive endeavors across the globe. From accountants and financial analysts to internal consultants and workplace designers, the CFO Organization employs diverse individuals who work together to help make DTCC a global leader in the financial services industry.

The Tax department develops and executes DTCC's tax planning strategies, and manages our myriad global tax compliance and reporting requirements spanning across seventeen countries in Asia, Europe, Australia and North America. The Tax department also advises DTCC's businesses on tax matters, supporting their operations and transactions by evaluating tax consequences and risks.