Retail Tax Manager
To lead the Tax Services organization, business strategy and service offer, this is inclusive of both transfer agency and broker-dealer regulatory requirements.
Duties and Responsibilities:
- Manages staff, creating a strong team atmosphere. Conducts regular one-on-one meetings and provides guidance, training and motivation as necessary to develop staff. Hires, evaluates and counsels personnel. Follows corporate performance management procedures per established Vanguard standards as required. Sets performance standards, reviews performance, provides feedback, and recommends wage increases in accordance with all applicable Human Resources policies and procedures.
- Leads and manages tax reporting functions for the Retail Division. Implements appropriate measures and reporting to control activities and functions that support retirement and non-retirement accounts for domestic and foreign investors for all investment types on the broker-dealer platform and for mutual funds on the transfer agent platform (planning and executing annual tax form production; preparing, filing and responding to inquiries for detailed tax withholding calculations and information; and filings, oversight and compliance with federal, state and international regulations) . This includes all unique processes and forms related to the broker/dealer including, but not limited to corporate actions, reallocation of capital/dividends, cost basis methods and calculations, unrelated business taxable income (UBTI), municipal bond taxation. Controls all decisions impacting processes.
- Oversees multiple end-to-end business processes to ensure compliance with VFTC, VMC, FINRA, IRS, international and state regulations. Provides second-level interpretation of regulations. This includes all aspects of change management, legal and compliance issues, service, operations interfaces with legacy systems, workflows and procedures, testing requirements, reporting budget and benefits measurement.
- Sets the strategy for the Tax Services offer and delivery models through process optimization, technology enhancements, organizational design changes, and competitive analysis. Leads the implementation of resulting changes and growth strategies. Leads any necessary crew change management efforts. Understands and anticipates the needs and expectations of internal and external clients and focuses work unit's efforts appropriately.
- Proactively monitors the regulatory landscape and assesses impact to service offers, internal workflows, procedures and controls. Responsible for ensuring appropriate controls and risk management. Partners with ORM and Legal & Compliance to ensure appropriate regulatory execution and oversight of services. Ensures appropriate readiness for regulatory inspections and examinations. Prepares documentation and explanation of operational models for Internal Auditors and IRS auditors.
- Develops and implements staffing and operational plans for Tax Services functions and participates in business planning for the broader Regulated Output department. Participates in the development of department budget. Responsible for ensuring adherence to operational service level commitment and for executing against financial targets. Controls costs while minimizing reputation, regulatory, legal and monetary risk to RIG, VFTC, VMC and Vanguard overall.
- Resolves elevated and complex client issues. Works directly with and acts as a liaison for Vanguard between Tax Services, external clients, other Vanguard client facing departments (i.e. Retail Services, Flagship, Flagship Plus, Advisory Services Group, Investor Trading Services, 529 plans, FAS, IIG Investment Only, VAIS, Service Recovery), Global Tax, and Legal & Compliance. Partners with various Vanguard departments including Legal, Global Tax, Risk and Compliance, IT and our Retail business segments to resolve potential compliance issues in a timely and thorough manner appropriately balancing client service, risk and legal considerations. Coordinates activities and interacts extensively across departmental lines.
- Maintains appropriate level of Vanguard and industry knowledge; continues to expand knowledge of the business and industry, keeps current on competition. Stays informed on tax policy and implications to business.
- Participates in special projects and performs other duties as assigned.
- Undergraduate degree or equivalent experience required. MBA/CPA/MS in Taxation preferred
- Minimum five years general management experience and five years related business experience; three years of management/supervisory experience preferred
- Exceptional leadership, organizational, and interpersonal skills
- Excellent communication, negotiation, diplomacy and presentation skills
- Strong knowledge of securities and/or broker/dealer industry preferred (and BETA, VAST systems preferred)
- Ability to handle multiple priorities, work independently with attention to detail in a deadline oriented, fast paced and ambiguous environment
- Excellent planning, analytical and problem solving skills
- Demonstrated client relationship management skills.
- Ability to work with and influence all levels of Vanguard management
- Demonstrated ability to lead and motivate others and foster teamwork
- Demonstrated project management skills
Vanguard is not offering visa sponsorship for this position.
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