|| Banking, Customer Service and Call Center, Finance/Economics, Financial Services, Installation, Maintenance, and Repair, Executive Management, Quality Control, Research & Development
Regulatory Operations Officer - Tax Processing|
The Regulatory Operations Officer is a position within the Banking Services section of HOST Operations. The role is responsible for servicing, problem resolution, quality, and risk management. The officer is responsible for maintaining exceptional customer service standards, and other duties as assigned.
This position provides regulatory and operational oversight in a variety of complex functions within a Banking Services environment. The functions include external RBWM customer contact via phone and email.
The role interacts with HNAH Operational Tax, the RBWM branch and relationship manager network, contacts within CMB, GPB, GBM, and technical and project support.
The Regulatory Operations Officer is responsible for maintaining the operational and regulatory integrity of these functions, while working in a fast-paced and strategic environment, meeting Performance Level and Service Level Agreements, ensuring compliance with all internal and external guidelines, adherence to applicable laws and regulations including Know Your Customer (KYC), Anti-Money Laundering (AML), Bank Secrecy Act (BSA), Internal Revenue Service regulations and others. This includes the development, documentation and on-going maintenance of departmental procedures, ensuring compliance with organizational requirements.
As a Regulatory Operations Officer, you may participate as a member of project teams when initiatives impact processes or systems, including participating in User Acceptance Testing and post production feedback, e.g. the annual Year-End IRS reporting project.
This role is responsible for recognizing risks and developing controls, identifying opportunities for process improvement and working with management to implement best practice strategies. There is a requirement for conducting research to resolve issues and implement sustainable solutions. This requires taking ownership of assigned tasks, exhibiting strong decision making skills and exercising sound judgment.
Impact on the Business
This position can be found within the following Banking Services Team - AML/KYC/Tax.
Tax Certification functions:
- Train on a set of processes to review and decision the validity of IRS Forms W-8 and W-9 received from customers, along with related certification documents.
- As the central processing unit for certain tax-related functions, learn proper update of codes and effective dates on customer accounts, as well as applying backup withholding rebates.
- Perform IRS TIN Match function, when required, in conjunction with form processing.
- Generate customer correspondence related to W-8 expiration or following receipt of invalid forms.
- Provide oversight to two GSC performing offshored functions related to this process, by supporting quality reviews and responding to inquires received.
- Service inbound calls/emails from RBWM customers who received correspondence generated by our team.
- Review reports that identify evidence on customer accounts that may indicate a change to U.S. residency status and generate applicable correspondence.
- Process B and C Notices received from the Internal Revenue Service by required deadlines, and perform related backup withholding transactions on customer accounts.
Year End IRS Reporting functions:
Qualifications & Requirements
- Provide support to the process, and to the Sr. Regulatory Operations Officer, by identifying requirements, and participating in project deliverables including testing.
- Ensure all IRS deadlines are met to issue customer year end forms, i.e. Form 1098, 1099, 1042-S
- Submit all IRS files by required deadlines containing customer data.
- Minimum of a Bachelor’s degree in business, related field or equivalent experience.
- Proven and progressive branch and/or operational experience.
- Developed organizational, communications, analytical, decision-making and customer service skills.
- Ability to handle multiple tasks in a fast- paced environment.