Tax Accounting Manager The Tax Accounting Manager is responsible for managing Comerica's monthly, quarterly, and annual provision for income taxes as prescribed under ASC 740 (SFAS 109, APB 28, and FIN 18). Included in these responsibilities is the preparation of all necessary disclosures required in SEC filings. The role is also responsible for running parallel calculation against the CCAR/DFAST DTA model, working with Corporate Finance in estimating a forecasted effective tax rate, and working with the Corporate Controller and Strategy groups in analyzing possible impacts from merger, acquisition, and divestiture activities. The role will report directly to the Senior Vice President of Corporate Tax and manages one officer.
Responsibilities: Manage Monthly, Quarterly, and Annual Tax Provision Calculation -Ensure that the income tax accrual is properly recorded. -Review the company's consolidated federal income tax return, primarily the more complex Schedule M adjustments. - Coordinate the analysis of FIN 48 required reserves. - Maintain understanding of FAS 109 and related tax accounting issues; keep current of new developments related to tax accounting issues to ensure that all applicable tax accounting guidance has been timely researched, evaluated, adopted and disclosed. Reconciliation of Accounts - Maintain understanding of the corporation's tax balance sheet and tax positions. - Review tax liability accounts. - Review inter-company settlements. - Manage reconciling and maintaining support for deferred taxes. SEC/Regulatory Disclosures - Review and maintain all tax related disclosures contained in the 10-Q and 10-K including the call report and the rate reconciliation and FIN 48 reserve. - Prepare year-end reconciliation reporting packages for the tax footnote in the Annual Report. - Provide information required by financial/regulatory reports. - Respond to SEC Comment Letter as necessary. Sarbanes Oxley - Ensure proper controls are in place and that the tax provision process is compliant with the Sarbanes-Oxley standards. Tax Research and Planning - Perform necessary federal tax research to support understanding of related tax compliance and other technical tax issues. - Calculate and provide the annual tax plan and forecasts. - Act as liaison to the financial reporting group for purposes of advising on proper tax treatment of items and transactions. - Advise/assist business units, for the Community Development group, on tax accounting questions. - Assist with "what -if" analysis of proposed transactions within the company. - Assist the tax group in documenting the Corporation's basis for the IRS claims. CCAR/DFAST - Provide parallel calculation of CCAR/DFAST DTA model for determining DTA disallowance in capital stress testing. - Assist Tax director in reconciling/explaining any differences.
Relocation Relocation assistance is not provided for this position.
Travel Travel is not required for this position.
* Bachelor's Degree in Accounting or Finance from an accredited university * 5 years financial services or banking experiencing * 7 years tax accounting experience including analysis and evaluations * CPA certification * 2 years of experience with tax provision software/models/etc
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled