Senior Analyst, U.S. Tax Reporting & Cost Basis

What’s in it for you as an employee of QFG?

Health & wellbeing resources and programs

Paid vacation, personal, and sick days for work-life balance

Competitive compensation and benefits packages

Work-life balance in a hybrid environment with at least 3 days in office

Career growth and development opportunities

Opportunities to contribute to community causes

Work with diverse team members in an inclusive and collaborative environment

This job posting is for an existing vacancy.

We’re looking for our next Senior Analyst, U.S. Tax Reporting. Could It Be You?
Questrade Inc. has multiple client tax reporting obligations to various tax regulators, including the Canada Revenue Agency (CRA), Ministère du Revenu du Québec (MRQ) and the Internal Revenue Service (IRS). These obligations generally fall under these categories:

Obtaining sufficient documentation from the client to identify their tax residency

Classifying securities and income from those securities for tax reporting purposes, and

Reporting appropriate tax information to Investors and regulators, including periodic remittance, issuing tax slips, and electronic filing, as applicable.

Experience with US reporting for QIs 1099 and 1042S and 1042.

Experience with Canadian investment reporting T5,T3,T5013, CRS and FATCA

This critical role involves in-depth research of evolving QI regulations throughout the year, ensuring their accurate implementation in year-end reporting, and possessing the expertise to identify and report U.S. source income on relevant IRS tax forms. The ideal candidate will be a self-starter with a strong understanding of U.S. tax regulations and excellent analytical skills. This role also performs &/or assists with operational processes that support the tax team in ensuring all regulatory obligations continue to be met.

Need more details? Keep reading…
Primary

Perform periodic tasks as needed to comply with US & Canadian tax reporting regulations

Review documentation on client accounts and determine appropriate tax residency

Prepare/ coordinate payment requests for withholding tax remittance to regulators

Reconciliations of income and withholding tax

Respond to internal and external tax related queries

Review and calculate withholding of manual transactions such as Hybrid/ Dual Source securities

Review manual transactions such as 871(m), SEC 302/304, SEC 305C, Dividend with Options

Review Stock Dividend, Spin-Off, and Merger transactions

Continuously monitor and research changes to Qualified Intermediary (QI) regulations and guidance issued by the Internal Revenue Service (IRS).

Assist with internal and external audits related to QI reporting.

Participate in the preparation of client and regulatory tax reporting

Review & enter provided tax factors for securities in the tax system

Review & enter provided client &/or securities transactions in the tax system

Review and verify information reporting on U.S. Investment slips 1099DIV, 1099INT, 1099MISC, 1042S Aggregate, 1042S Individual and Form 1042

Review and verify information reporting on Canadian investment slips T5,T3,T5013, CRS and FATCA

Track work completed and any errors found

Identify and bring process improvement opportunities to the table

Collaborate with other team members, or other departments on mini projects

Other ad hoc duties, and projects, as assigned

As needed

Research into new tax rules, and impact to Questrade (clients, systems, processes) as assigned

Gap analysis of Questrade’s compliance with existing tax rules

Participate in monthly securities research for tax reporting purposes

Classification of new securities to ensure tax information is represented on the correct tax slip

Classification of income (including deemed income) from securities to ensure appropriate withholding for US &/or CDN tax purposes, and to ensure reportable income is correctly represented on tax slip(s)

Classification of corporate actions to ensure appropriate withholding for US &/or CDN tax purposes, and to ensure reportable income is correctly represented on tax slip(s)

So are YOU our next Senior Analyst, U.S. Tax Reporting? You are if you…
Education

Post-secondary education, preferably in Finance, Economics, or related field

Successful completion of tax courses, or working towards a CPA would be an asset

Work experience

Prior work experience (2 years+) in a Tax Reporting role, focussing on research and analysis of US & Canadian tax reporting rules would be strongly preferred

Prior work experience (2 years+) with Canadian &/or US client tax reporting would be strongly preferred

Prior work experience (2 years+) in an operational, continuous improvement or client service role, preferably within a financial services organization is an asset

Prior work experience with writing proposals on operational processes based on external research &/or internal gap analysis would be an asset

Hard Skills

Strong knowledge of client and/or securities taxation rules, understanding impact and operational processes is compulsory

Strong knowledge Canadian and/or US client tax reporting is compulsory

Knowledge of types of securities, types of income from securities and types of corporate actions is strongly preferred

Overall understanding of the securities industry, and how an IIROC regulated brokerage operates is preferred

Experience with Qualified Intermediary obligations is an asset

High Intermediate/ Advanced knowledge of excel or google sheets is strongly preferred

Ability to build macros, and knowledge of coding languages is preferred

Experience with Broadridge systems would be a nice to have

Additional kudos if you…

Expert research and problem solving skills

Excellent written and verbal communication skills

Excellent collaborative skills, ability to clearly see impact, understand and mitigate risk and understand CX

Detail oriented, a self motivated individual with the ability to work independently with little supervision

Strong analytical skills to manage large data

Excellent organizational skills

Strong work ethic, result focused, and deadline driven

Strong continuous improvement mindset, and a desire to bring improvements to the table

A collaborative team player, flexible, and with a strong customer service mindset

Compensation Information:

Base salary range: $70,000 -$80,000

The final compensation package will be commensurate with the successful candidate's experience, skills, and geographic location (Canada). It includes a comprehensive benefits plan and a competitive incentive (bonus) program for Full-Time Permanent roles.

Sounds like you? Click below to apply!
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