Solutions Group Manager recruitment

The Foreign Account Tax Compliance Act (FATCA) is a new US law with the objective to combat offshore tax evasion by US persons who invest directly through financial accounts maintained offshore or indirectly through ownership interests in foreign entities. FATCA requires all foreign financial institutions to identify US accounts, comply with prescribed verification and due diligence procedures, file annual tax information reports on US accounts with the IRS, withhold on payments made to non-participating FFIs or recalcitrant accounts and to obtain a waiver of foreign privacy or bank secrecy rules or otherwise close the account.

FATCA is expected to take several years to implement and will require substantial investment in account on-boarding and client profiling, product processor capabilities and corporate tax reporting. Phase 1 of the project involves the scoping of impacted Citi businesses and identifying gaps between existing processes and FATCA requirements. This phase has been on-going in 2011 and should be completed during 1Q 2012. Phase 2 of the project involves developing the necessary plans (FRD, BRD, etc.) to address the gaps identified in Phase 1 and work with the business and region OT teams to implement the required changes. This phase is just being initiated and will continue through 2012 and beyond.

Responsibilities:
Oversee FATCA project implementation plans across OT units globally, working with business and region OT project teams. In coordination with Corporate Tax, BSM tax technical experts and PWC implementation resources ensure that all Citi businesses implement effective programs for all FATCA requirements and that all Citi businesses become FATCA compliant in accordance with the required timelines.

Skills

-10 -15+ years of business experience, preferably with a global financial services company
-Management responsibilities for OT project oversight and implementation, preferably on a global basis
-Strong management by influence skills, good team builder and excellent communications
-Exposure to tax compliance implementation projects would be desirable
-MBA or CPA/accounting certification would also be desirable