What are the responsibilities and job description for the Custody Tax Analyst position at HSBC?
Job Description
Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.
The position includes the daily processing responsibilities for NRA withholding and remittance, 1099 and 1042s tax reporting and reconciliation, development and management of system tax rules, allocation of withholding rates, special tax services (i.e. EDS elections, Tax reclaims and Acupay certifications).
As our Custody Tax Analyst you will:
The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.
Requirements
You´ll likely have the following qualifications to succeed in this role:
As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.
Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.
The position includes the daily processing responsibilities for NRA withholding and remittance, 1099 and 1042s tax reporting and reconciliation, development and management of system tax rules, allocation of withholding rates, special tax services (i.e. EDS elections, Tax reclaims and Acupay certifications).
As our Custody Tax Analyst you will:
- Daily analysis and processing of NRA withholding on CA/Income events
- Reconciliation of withholding tax and income/exemptions codes reported to the clients
- Communicating and processing elective dividends through the depository with respect to foreign withholding rates
- Client certification of foreign positions through the use of external platforms such as Acupay
- Insure the ongoing development and maintenance of written procedures and adherence to all US regulations as related to the services, along with the adherence to internal banks and business line procedures and policies
- Reconcile and prepare client 1099 and 1042s forms
- Communicate tax-related changes that have impacted on information, documentation, reporting ad withholding regulations to clients via the issuance of Market Updates/Newsletters
- Provide support and guidance to all internal tax related areas with respect to tax related queries.
- To contribute to the maintenance of an effective quality service and reduce client risk to a minimum by ensuring that all work is processed within agreed timelines and complex client queries are responded to within 24 hours or agreed timeframe
- To ensure all account opening documentation is processed correctly within the required timeframes.
The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.
Requirements
You´ll likely have the following qualifications to succeed in this role:
- Computer literacy, Strong knowledge of Excel, Word and Access
- Detail oriented, good problem solver
- Should have good communication skills
- An overall knowledge of Equities and Fixed Income products
- Aggressive and quick learner who is able to multi-task
- Knowledge of Broadridge’s BPS/TMS platform as well as Globetax
- Minimum of 3-5 years of Tax experience
- Minimum of a BA/BS degree or equivalent industry experience
As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.
Salary : $75,000 - $100,000
