FATCA/CRS Compliance Specialist

About the Role

The FATCA / CRS Compliance Specialist will be responsible for ensuring that financial institutions adhere to FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) regulations. This role includes managing the reporting of relevant data, analyzing international account information for compliance, and working closely with internal stakeholders to mitigate risks associated with non-compliance. The ideal candidate will have strong experience in financial regulation, international tax laws, and a deep understanding of the compliance requirements of FATCA and CRS.

Key Responsibilities

• Ensure compliance with FATCA and CRS regulations by reviewing, analyzing, and reporting international account data in accordance with local and international tax laws.
• Oversee the preparation and submission of FATCA and CRS reports to the relevant authorities, ensuring accuracy and timeliness.
• Perform due diligence on account holders to identify reportable accounts under FATCA and CRS criteria.
• Collaborate with legal, tax, and audit departments to assess and manage compliance risks associated with FATCA and CRS requirements.
• Maintain and update internal policies and procedures related to FATCA and CRS compliance.
• Monitor and interpret changes in regulations and guidelines related to FATCA and CRS to ensure ongoing compliance.
• Provide training and guidance to internal staff on FATCA and CRS reporting obligations and processes.
• Coordinate with internal teams and third parties to ensure the accurate reporting of financial information related to foreign accounts.
• Respond to inquiries from regulatory authorities, auditors, and clients regarding FATCA and CRS compliance issues.
• Identify potential non-compliance issues and propose corrective actions to mitigate risks.
• Prepare periodic compliance reports for senior management, including updates on new developments in FATCA and CRS regulations.

Key Qualifications

Desirable Skills