Wells Fargo Corporate Trust Services is the premier provider of corporate trust services to the capital markets, serving the needs of institutional and registered investors, bondholders, and lenders. We offer trustee, agency, fiduciary, escrow, and other financial services to public and private corporations and government entities. We can administer a wide array of assets and types of programs, including asset- and mortgage-backed securities and their underlying collateral, municipal bonds, corporate debt, equity transfer agency, employee stock purchase plans and various warehouse and conduit programs. Our International division works with public and private companies, government entities, special purpose vehicles, and the banking, securities, and insurance industries to administer a range of international corporate trust products and services. CTS has a portfolio of more than 41,000 accounts representing more than 2.5 Trillion in unpaid principal and more than 5 million registered equity holders. CTS teams comprise of the Corporate, Municipal & Escrow Services group, the Structured Product Services group, Shareowner Services, Corporate Trust Operations, CTS Controls, Process and Technology Solutions, Bond & Analytics, and Tax.
We are looking to fill a Tax Consultant position to assist with managing the overall tax requirements for the CTS Tax team and to support tax research for the centralized tax function across the CTS product divisions. This person will work closely with a number of different business managers at all levels to help address tax needs and developing better and more cost effective ways of meeting tax requirements. Given the various products and functions in CTS, there are a variety of tax issues.
Essential responsibilities include the following:
•Assist with interpretation of tax rules for all tax onboarding, withholding, and reporting purposes and/or for highly specialized tax return tax issues (including REMICs, Partnerships, and WHFIT/Grantor Trusts)
•Ensures all tax compliance adheres to tax rules and regulations
•Assist with management of tax product function by driving tax projects across CTS and continuously improving the tax and compliance environment
•Help serve as subject matter expert on various tax reporting matters – examples such as FATCA, NRA reporting, Cost Basis, Original Issue Discount, structured product issues and supports tax team on tax matters
•Assist with identification of tax risks and planning opportunities from knowledge of the business and the businesses tax reporting and tax attributes
•Ensure the positions taken are thoroughly and contemporaneously documented
•Partner closely with business leaders to ensure that they understand and implement the requirements for achieving business tax objectives and tax withholding, reporting and compliance policy
•Maintain regulatory awareness and support regulatory initiatives
•Assist with monitoring new and proposed legislation, identifying the impact of proposed changes on CTS, and effectively communicate results
•Assist with education of CTS Teammates on tax items
•Help serve as a tax representative on CTS initiatives
•Assist with assessment of international tax capabilities tax obligations to serve in international paying agent capacity
This position will help the Tax Product Manager and the tax leadership team develop successful partnerships within the CTS group, as well as develop and maintain effective communication and strong working relationships – specifically with the Corporate, Municipal & Escrow Services group, Structured Product Services group, Shareowner Services, Corporate Trust Operations, Corporate Tax, Legal, Risk Management and other internal and external parties.
5 + years of tax and accounting experience with a major accounting firm, law firm, financial services company or multi national company
Bachelor”s Degree, Juris Doctorate, Masters of Taxation or Certified Public Accountant (CPA) or equivalent certification
U.S. Tax reporting expertise and expertise in US tax rules
Experience with tax reporting obligations
Excellent Tax Research and Documentation skills