The Wholesale Tax office has an exciting opportunity for an experienced, forward-thinking leader to join the Wholesale Tax team to lead the Governance Program for the Wholesale Tax Program within WGRO. The position is aligned to establish and maintain the governance program enabling the Wholesale Tax Program across the Wholesale Banking Group to meet regulatory requirements related to customer information tax onboarding, withholding, and reporting including:
- Establish a governance structure incorporating all of the tax requirements for a robust customer tax program including developing, implementing and monitoring the customer tax program to identify, assess and mitigate risk
- Design and development of governance strategies, methodologies, and analysis and evaluation of adequacy and effectiveness of policies, procedures, processes and internal controls in providing oversight of Wholesale’s U.S. and global tax requirements
- Develop risk practices to assess, monitor, analyze and report the Tax Program’s state of compliance
- Implement, monitor, and analyze key performance and risk metrics associated with a robust customer tax program
- Maintain an awareness of customer information tax risk issues across Wholesale and ensuring appropriate escalation and the necessary follow-up
- Assess specific US and international risks and establish practices to incorporate into the Wholesale Tax Center of Excellence pillars of Onboarding, Withholding, Reporting and Data Management, including oversight to or coordination of Line of Business impact and required gap assessments
- Lead response plans and improve awareness of emerging customer tax risks throughout all Wholesale businesses
- Produce, manage and coordinate the WGRO risk reporting and analyze and interpret results
- Ensuring adequate controls are in place for Wholesale tax withholding and reporting obligations, including W-8 and W-9 certification and validation; backup withholding, NRA withholding and FATCA withholding
- Ensuring Federal, State and non-US withholding amounts are deposited with the appropriate tax authority or agency; Filing of annual withholding reconciliation returns (Forms 945 and 1042)
- Partnering with the Wholesale Lines of Businesses (LOBs) to improve the risk management function related to tax requirements
- Coordination with the Technology organization to design and deliver technology enablement related to tax processing, including the integration and enhancement of multiple systems related to tax processing in order to ensure a robust customer tax program
- Work closely with the Wholesale Lines of Business, U.S. and Regional compliance and risk teams, Corporate Tax Information Reporting Consulting, Corporate Risk, the Law Department and Audit as it relates oversight of Wholesale’s customer tax activities.
The successful candidate will demonstrate core competencies in Business Acumen in Wholesale Banking/Risk Management/Tax Regulations, Leadership, Change Management, Process Improvement and Project Management. In close alignment with the Wholesale Tax Program leadership team and the PMO leadership team, the Governance Manager will establish a governance program and appropriately guide the outcome of the program. They will be expected to have a proficient level of knowledge and experience in Tax Regulations, Risk Management and Wholesale Banking to partner with subject matter experts and initiative team members to properly guide the development of initiative deliverables to meet objectives. They will facilitate the design and implementation of business process improvements and best practices related to developing an effective and efficient program across Wholesale. The Governance Manager must be able to translate leadership vision into executable strategies and drive implementation efforts to achieve transformational change delivering business benefit and meeting all customer tax law requirements. Key success criteria will be the ability to manage diverse relationships and foster a collaborative team dynamic with PMO, Risk Management, LOBs, Audit, Legal, and other stakeholders. The role will involve interactions with regulators and external stakeholders.
The position will collaborate with team members in separate geographical locations and will require remote management skills and travel. This position is responsible for management of a team and may be responsible for managing outside vendor resources.
This position will be responsible for leading cross functional/virtual teams to strategize, plan and execute a variety of programs, services and initiatives that are larger in scope and complexity. Examples might include, but are not limited to: finance /operational / executive management review coordination, process improvement and redesign, change management initiatives, ongoing oversight of a leadership / diversity / recognition / or general program oversight. Provides leadership to other consultants and analysts in the integration/implementation of programs/services/initiatives with cross functional business partners, recognizing the significance of competing priorities and strategies, and adjusting as necessary. Develops metrics and tracks/evaluates performance of programs, services and initiatives. Ensures plans/programs adhere to appropriate policies and regulations. This position will establish and adhere to routines for effective control management and oversight; champion and sustain a process based environment; develop successful partnerships within the WGRO team as well as develop and maintain effective communication and strong working relationships within and across all Wholesale teams.
- 10+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 10+ years of IT systems security, business process management or financial services industry experience, of which 5+ years must include direct experience in compliance, operational risk management, or a combination of both
- 5+ years of management experience
- Advanced Microsoft Office skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to articulate complex concepts in a clear manner
- Experience working in a large enterprise environment
- Ability to influence across all organizational levels, particularly senior management
Other Desired Qualifications
- 8+ years of operational risk, compliance and/or audit experience with proven track record of achievement and evidence of having built strong relationships across full-service financial institutions.
- 10+ years of experience in the financial services industry engaged directly in the execution of obligations.
- 5+ years working in or closely with Wholesale-type businesses sufficient to demonstrate a working knowledge of their products/services, key processes/systems, and organizational structure.
- Demonstrated ability to establish and lead governance programs
- Demonstrates knowledge of technical tax onboarding, withholding, reporting and required tax compliance
- Experience influencing processes, policies and procedures consistent with corporate values and tax laws
- Track record for implementing significant improvements to existing processes
- Ability to independently evaluate tax issues and apply sound business judgment with minimal oversight
- Demonstrated ability to actively lead projects/discussions, work through problems and reach decisions that are in the best interest of the Company and our customers.
- Strong communications skills and demonstrated ability to establish strong working relationships with key partners within the lines of business, internal audit, as well as senior management, to drive initiatives to completion.
- Well-organized, ability to work as a member of the team and the ability to work directly with internal and external counterparts in a constructive and professional manner.
- Exceptional problem solving skills; demonstrated ability to think independently and bring insightful challenge.
- Proven ability to exercise independent and sound judgment that balances business efficiency and effectiveness with prudent risk mitigation principles.
- Juris Doctorate, Masters of Taxation or Certified Public Accountant (CPA) or equivalent certification.
- Proven project management and coordination skills and experience managing direct reports.
- Experience leading projects supporting operations in a financial services environment including experience leading project teams through process design/reengineering initiatives with quantifiable results
- Strong influence and negotiation skills
- Must be able to take complicated subject matters and effectively present recommendation and options.
- Experience collaborating with business partners across multiple functional areas in support of critical business initiatives.
- Experience with implementation of systems and control automation.
- The position will collaborate with team members in separate geographical locations and will need someone with remote management skills and ability to travel.
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.