This position is within Wholesale Group Risk Office (WGRO) to help Wholesale meet its regulatory requirements related to customer information tax reporting, including:
- Oversight of the buildout of each of the four pillars for Wholesale Tax Center of Excellence
- Achieve business process improvements, best practices, and assist with integration of multiple systems
- Coordination of Wholesale wide tax compliance efforts
WGRO has an exciting opportunity for an experienced, forward-thinking Operations Manager to join the Wholesale Tax team to lead the buildout of the Wholesale Tax Center of Excellence. The position is aligned to facilitate the strategic planning and initiative management enabling the Wholesale Tax Program, and more specifically each of the pillars within the Wholesale Tax Center of Excellence, across the Wholesale Banking Group to meet regulatory requirements related to customer information tax withholding, reporting, and compliance controls including:
- Ensuring adequate controls are in place for Wholesale tax onboarding, withholding and reporting obligations, including W-8 and W-9 certification and validation; backup withholding, NRA withholding and FATCA withholding; and required reporting
- 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)
- Coordination with the Technology organization to design and deliver technology enablement related to all aspects of the Wholesale Tax Center of Excellence, including tax processing and the integration and enhancement of multiple systems related to tax processing.
- Partnering closely with the COO and PMO offices to align Strategic Planning, Change Management, Business Process Management, and Project Management services based on the goals and objectives of the WGRO organization.
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 COO and PMO leadership team, the Tax Operations Manager will establish strategic plans and objectives and appropriately guide the outcome of initiatives for the Wholesale Tax Center of Excellence. 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 business 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 Tax Operations Manager must be able to translate leadership vision into executable strategies and drive implementation efforts to achieve transformational change delivering business benefit. Key success criteria will be the ability to manage diverse relationships and foster a collaborative team dynamic with COO, PMO, Risk Management, LOBs, Audit, Legal, and other stakeholders. The role will involve interactions with regulators and external stakeholders. The Tax Operations Manager will coordinate LOB engagement on change initiatives managing an “initiative portfolio” reflecting the initiatives driven from WGRO related to the Wholesale Tax Center of Excellence and requiring LOB delivery. The Tax Operations Manager will partner with WGRO and LOB and COO and PMO leadership to prioritize and plan change initiatives impacting the LOBs developing an integrated change management plan and operating model.
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.
- 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, Corporate Risk Management, 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.
- Experience leading projects supporting operations in a financial services environment including experience leading project teams through process design/reengineering initiatives with quantifiable results
- Strong influencing 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.