Tax Compliance Director

The Retail Investor Group (RIG) serves the needs of Vanguard's retail clients—including high net worth, advisor clients, and small businesses – by researching questions, offering solutions, executing transactions, consulting, analyzing data, and providing advice and guidance. Because retail client needs are so varied, our division has diverse career opportunities in areas such as client relationship, processing, data reporting and analysis, advice, legal and compliance, and so much more. No matter what role they serve, all of our crew focus on keeping costs low, promoting growth, and improving client loyalty. If you are seeking an opportunity to broaden your industry knowledge and want to give clients the best chance for investment success, RIG could be the next step in your career. Vanguard is currently seeking a Director of Tax Compliance to lead a team of tax analysts and professionals and ensure compliance with domestic and foreign tax information reporting and tax withholding regulations, as well as, oversee tax-related client account updates ensuring accurate withholding and reporting. The Tax Compliance Director will employ a pro-active approach to information reporting and tax withholding to contribute to improved client reporting and business processes minimizing risk associated with regulatory penalties and/or non-compliance.

Primary duties and responsibilities:

  • Manages and develops staff by providing guidance, training, and motivation necessary to develop staff. Hires, terminates, evaluates, and counsels personnel. Sets performance standards, reviews performance, provides regular and ongoing feedback
  • Oversees and maintains accountability for the regulatory compliance and tax documentation procedures for the RIG Division's broker dealer and transfer agent retail investor tax, cost-basis and withholding reporting and filing. Ensures that returns are filed accurately and timely and all financial refunds and liabilities are reconciled and properly accounted.
  • Interprets and communicates evolving US, and state tax rules and regulations. Ability to review detailed tax information and client documentation to offer tax compliance guidance to business operations
  • Work with operational and business colleagues to ensure processes and controls are in place to ensure proper tax documentation is on file and withholding and reporting occurs in accordance with IRS Regulations.
  • Oversees multiple end-to-end business processes to ensure compliance with SEC and FINRA regulations. Provides second-level interpretation of SEC and FINRA rules and regulations. This includes all aspects of change management, legal and compliance issues, service, operations interfaces with legacy systems, workflow and procedures, testing requirements, reporting budget, and benefits measurement. Leads and manages Retail Tax Compliance and Oversight functions for the division. Implements appropriate measures and reporting to control activities and/or functions that support the transfer agency and/or broker dealer.
  • Reviews all applicable current and future regulatory requirements in order to ensure effective Written Supervisory Procedures (WSP) are in place. Enhances procedures commensurate with changes in market regulation. Utilizes the necessary FINRA securities licenses, acts as the Registered Principal Responsible for several WSP to ensure they are updated and followed. Ensures proper identification and training of delegates.
  • Protects and enhances Vanguard's reputation through continued efforts to strengthen and improve tax reporting and services to clients. Partners with various Vanguard departments to analyze and resolve potential compliance or complaint issues, in a timely and thorough manner. Proactively monitors the regulatory landscape, and assesses impact to service offers, internal workflows and procedures. Ensures readiness for regulatory inspections and examinations.
  • Directs and motivates Tax Analyst team ensuring they are meeting overall business plan objectives and other desired results. Promotes cohesiveness and cooperation within RIG Operations and other business partners; follows up on implementation of policies to ensure that they are consistently applied.
  • Demonstrates initiative and creativity in developing strategy plans and goals for Retail Tax Compliance; Assesses internal and external client needs as a basis for recommending service enhancements while addressing the regulatory and operational related risks Seeks ways to control costs while minimizing reputation, regulatory, legal, and monetary risk to RIG and Vanguard overall.
  • Participates in all aspects of annual business planning and long-term strategic direction for the department and Vanguard. Understands the financial dynamics of the business forecast and proactively manages business segment expenses appropriately.
  • Maintains an appropriate level of Vanguard, Financial Industry and Tax Compliance knowledge; keeps current on Vanguard policies and objectives, continues to expand knowledge of the business and industry, keeps current on competition. Participates on industry committees involving tax policy.
  • Participates in special project and cross-functional teams/initiatives as needed and performs other duties as assigned.

The ideal candidate should possess:

  • Undergraduate degree. CPA, and MS/MBA in taxation highly preferred or equivalent combination of training and experience.
  • Minimum 8 years of tax reporting/compliance experience with 5-7 years of management and leadership responsibility with focus on retail investor taxation
  • Advanced knowledge of tax withholding and reporting for securities including mutual funds, stocks, corporate and municipal bonds, and corporate actions.
  • Superior problem solving, decision making and analytical skills
  • Ability to lead and manage teams with direct and indirect reporting relationships
  • Strong knowledge of tax research databases and tax preparation software
  • Proficient in Microsoft office applications.
  • Series 7, 63, and 24 licenses or the ability to attain these licenses within 6 months of being hired

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