Business Overview:
Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.
The role is positioned within Strategic Business Development and Transformation (SBD&T), reporting to the Head of Client Lines Americas and centrally to the Global Head of Tax Services. Mandate is cross Clients Lines. Working with various stakeholders and with all CIB2S locations and interacting with different Business Lines and Functions.
Candidate Success Factors:
Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Able to influence peers and team.
- Demonstrates good judgement when making decisions of high complexity and impact.
- Exercise appropriate autonomy in the execution and delivery of work.
- Responsible for driving outcomes, which have meaningful effect on team or department.
- Leadership and Collaboration:
- Creates trust with colleagues.
- Acts in leadership capacity for projects, processes, or programs.
- Client, Customer and Stakeholder Focus:
- Able to build relationships with a mix of colleagues and clients.
- Interacts regularly with management and department leaders.
- Demonstrates the ability to influence stakeholders at the team level.
- Compliance Culture and Conduct:
- Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
- Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.
Job Overview:
This is a Director level role that will report to the Global Head of 2S Tax Services and Head of client lines in the US. Successful candidates will have experience with US taxation of banks, strong knowledge of US information reporting and withholding rules, including but not limited to Ch. 3, Ch. 4, Ch. 61 and the QI Agreement (US IRW).
Responsibilities:
- Accountable for ensuring compliance of 2S with US information reporting and withholding tax regulations
- Ensure that 2S and the relevant operations, IT and product teams comply with all relevant US information reporting and withholding tax regulations.
- Work closely with the Operations, IT, products, etc. teams to review and enhance the end-to-end processes relating to the US tax withholding and reporting obligations (QI, section 871(m), US digital asset rules, etc.) for the full business of 2S and on worldwide basis.
- Provide subject matter expertise for strategic projects, system enhancements and digital transformation initiatives related to US tax withholding and reporting.
- Tax technical assistance of operational, products and client development teams on a day-to-day basis in coordination with Group Tax Department: act as 2S global subject matter expert for US information reporting and withholding tax matters, providing expert guidance, operational interpretation of the regulatory requirements and strategic guidance to Operations, Product, IT, Client Development and senior management, setting technical direction and driving consistent decision-making across 2S.
- Develop and deliver training and awareness programs to operations, products, client development and other stakeholders in the US withholding tax and information reporting requirements.
- Ensure that 2S is timely and duly withholding tax at the correct rate on payments made to clients and that the necessary documentation and reporting requirements are met.
- Identify and mitigate risks associated with non-compliance with US information reporting and withholding tax regulations by ensuring that the proper control framework relating to US withholding and reporting activities has been implemented by the relevant 2S teams.
- Participate in QI external audits and to the internal QI/QDD sub certification process as an expert.
- Participate in the discussion for 2S (in collaboration with Group Tax Department) with the IRS.
- Coordinate with Group Tax Department to ensure that tax updates are provided to the key 2S stakeholders.
- Lead the assessment and implementation, in coordination with Group Tax Department, of regulatory changes impacting US withholding tax and information reporting obligations, ensuring timely translation of regulatory requirements into operational processes, systems and controls.
- Participate with the Group Tax Department in the discussions in the market relating to asset servicing: acts as 2S subject matter expert for US tax matters within the asset servicing industry, engaging with market participants and industry bodies.
Minimum Required Qualifications:
- 15 years of related experience in a law firm or major financial institution.
- Professional standing, strong interpersonal communication skills, and presentation skills.
- Technical leadership: providing expert guidance, setting technical direction and driving consistent decision-making across the organization
- Regulatory knowledge and interpretation
- Influencing & Stakeholder Management
- Transformation program experience
- Leadership & Change Management experience
- Effective analytical, organizational, and problem-solving skills
- Strong verbal and written communication skills
- Knowledge regarding custody operational processes and operating models
Preferred Qualifications:
- LL.M degree or equivalent
- Juris doctor, CPA (or equivalent) and/or master’s in taxation.
FINRA Registrations Required:
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
SEC Security-Based Swap Dealer Associated Person:
While the description above describes our ideal candidate, we encourage applicants to apply even if they do not fully meet the complete list of qualifications noted.
The expected starting salary range for this position is between $185,000 to $260,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.
In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include 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, inclusive of 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.
As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose - to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential.
BNP Paribas. The Bank for a Changing World - https://usa.bnpparibas/en/homepage/join-us/our-opportunities/
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
Protect yourself from fraudulent job postings. Emails about jobs at BNP Paribas will always come from addresses ending @bnpparibas.com @us.bnpparibas.com, @ca.bnpparibas.com, or @br.bnpparibas.com. You should be suspicious of emails regarding employment with BNP Paribas coming from any other domains and should not respond. BNP Paribas will never send payments to or request payments from candidates for positions posted by BNP Paribas.
