Corporate Actions Generalist (Tax services operations)

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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
Pension
Paid Time Off and other leave of absence
Flexible/Hybrid Work Arrangements

Why you'll love this job:
Being a member of the Tax services operations team, the Corporate Actions Generalist researches and responds to internal day-to-day questions from customers regarding tax classifications and allocations. The Tax Information Service group supports, maintains, and enhances DTCC's various domestic tax products, including the US Tax Withholding Service, 2439 Reporting, 1099 Reporting, 1042-S Reporting, and W-9 compliance. The area works closely with Product Management and the General Counsel to market these products and ensure compliance with current Treasury Department Legislation. The US Tax Withholding Service is an automated system that allows non-US financial institutions holding US securities at the depository to comply with non-resident alien (NRA) withholding tax rules.
Your Primary Responsibilities:

Researches and responds to internal day-to-day questions from customers regarding tax classifications and allocations.
Monitors and identifies new products and works with Tax Counsel and Product Management when required to determine withholding impact and correlate all changes to tax legislation enacted during the year by reading and understanding the various new regulations, to include Section 302 Reporting/Withholding and their impact to the Industry contained in IRS Publication 15 & Publication 17.
Provides tax technical support for Asset Services (Underwriting, Announcements) with respect to new issue prospectus review and event classification.
Coordinates the sub-issue type reclassification efforts between Underwriting and IT on DTCC Masterfile.
Monitors and controls reconciliation of all tax adjustments to the collected funds. Updates tax tables allowing proper withholding on all security types as well as the various tax components including Section 302, Section 305(c) and 871(m) Reporting/Withholding.
Ensures that tax funds are remitted to the IRS according to the IRS-imposed schedule.

**NOTE: The Primary Responsibilities of this role are not limited to the details above. **
Talents Needed For Success:

Minimum of 4 years of related experience
Bachelor's degree preferred with Masters or equivalent experience

Understanding of generation of 1099 and 1042S reporting requirements
Strong knowledge of securities industry and systems environment
Ability to perform business process analysis and create efficient solutions

We offer top class training and development for you to be an asset in our organization!
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.