Client Tax Operations AVP - Wealth Management Operations

Morgan Stanley
New York, USA
25 May 2022
08 Jun 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Company Profile
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career, a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile
Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.

Department Profile
Client Tax Operations is responsible for accurate withholding and reporting with our regulatory bodies, such as IRS and States. We build strong client relationships with our client and partner with technology to realize the full potential of various solutions to help support our clients and the firm. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Background on the Position
The Client Tax Reporting Department is responsible for ensuring that all documentation, withholding, reporting and filing obligations of the Firm are met. The Client Tax Director position is required to perform numerous supervisory review of processes, manage a the team to ensure accurate reporting and work side by side with other client tax team members to ensure consistency across business units and provide a great end client experience. Shareworks by Morgan Stanley business unit is looking for a talented and energetic Director to join the tax team to ensure Client and Participants tax obligations are met.

Primary High-Level Responsibilities
- Manage 2 to 4 individuals while the team is continuing to grow and expand
- Assist in managing various projects for integration and process creation/documentation
- Work closely with Squads and vendors to implement various system enhancements and coordinate new system projects
- Ensure year-end U.S. and Canadian tax forms, 1099, 1042-S, Puerto 480.6A, RL, T5008 etc. are reviewed and accurate prior to releasing to participants and filing with regulatory entities.
- Create and review FATCA and CRS Reporting for various jurisdictions
- Ensure daily tasks are completed accurately and service level agreements are met
- Assist in creating and reviewing desktop and written supervisory procedures
- Participate in implementing new IRS, CRA, FATCA/CRS regulations, RCSA control and audit findings
- Work closely with the Operations Tax Advisory team and Corporate Tax on interpretations, tax compliance requirements and/or changes that need to be implemented in the withholding and reporting streams



- College degree in Business with 5+ years of experience
- Series 99 or attain it within 6months from date of hire
- Manage 2 to 4 individuals while the team is continuing to grow and expand
- Knowledge in IRS Chapter 3 & 4, FATCA/CRS and CRA/MRQ regulations with prior tax experience
- Knowledge of Stock Options, Employee Stock Purchase Plans, Restricted Units/Awards, Stock Appreciation Rights processing and prior experience
- Ability to interact with individuals within the various business units and external partners via strong written and verbal communication skills
- Must be able to analyze root cause, offer possible solutions to the potential issues and fully execute on agreed upon solutions
- Expected to highlight inefficiencies that may be found throughout the process and provide recommendations
- Strong project management and excellent time management skills during tight deadlines
- Must be willing to put in time and effort to meet department needs and objectives
- Strong research / analytical and excel/PowerPoint skills
- Ability to be agile during the day-to-day responsibilities and multitask
- Proactively engage and collaborate with all co-workers globally to build positive rapport to contribute as an effective team member as measured by their feedback
- Partake in special projects within the global tax team to enhance our process and efficiency
- An ability to articulate issues both in verbal and written form to help aid swift resolution
- Comfortable with technology and technical concepts in a fast-paced changing environment
- An aptitude for learning quickly with a solid understanding of the Internet, e-commerce and equities
- A deep belief in team success, collaboration and a willingness to adapt to continuous change, strong Team-player

Role is Hybrid and will require in office attendance 3 days/week.

This role requires that all successful applicants be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccinations within 3 days of commencement of employment.

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