Job Description

What is the opportunity?

In this exciting opportunity, you will be responsible for all activities with respect to QI & FATCA withholding, remittance and reporting of US source income to the IRS.

What will you do?

• Ensure the accuracy, timeliness and completeness of US tax withholding, remittance and reporting of US source income
• Develop comprehensive procedures to ensure that all reporting and reconciliations comply with the IRS QI and FATCA obligations and internal audit, this includes ensuring desk operating procedures are fully documented and are current
• Work with various business units, client service and certain clients, to ensure completeness of data required for accurate tax reporting
• Responsible for identifying any tax reporting discrepancies
• Stay on top of any IRS regulatory changes
• Participate in the development and testing phases of regulatory projects involving RTAX and various custody systems, which contain system enhancements meant to improve the overall efficiency of tax reporting, and to meet the IRS regulatory reporting requirements
• Prepare consolidated reporting for RBCIS, with regards to filings and IRS review activities
• Find operational efficiencies in the desk and reduce operational risk
• Escalate issues to manager accordingly
• Understand & communicate interdependencies between Canadian & U.S. reporting to all constituents
• Support QI reporting responsibilities for other custody platforms, as required
• Liaise with the Tax Advisory Group to ensure regulatory requirements are met within the departments operating deliverables.
• Able to prepare US tax Forms’ 945, 1042, 1099 and 1042-S, and be responsible for US REITs and RICs reclassification adjustments

What do you need to succeed?

Must-have

• University degree and/or work experience in the related field
• Knowledge of QI & FATCA withholding and reporting guidelines
• Strong technical competency in handling large data volume
• Solid Risk Management and mitigation focus mindset

• Excellent interpersonal skills  and ability to multi task and work with various competing priorities and timelines

Nice-to-have               

• Completion of the Canadian Securities Course (CSC)
• Knowledge of RBC I&TS’ systems

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Excellent exposure to communicate with various business partners and stakeholders in Investor & Treasury Services and within other platforms as appropriate
• Opportunity to obtain hands-on experience throughout your role
• Working with an exciting, close-knit, supportive & dynamic group
• Opportunity to collaborate with other business segments within the bank
• Excellent career development and progression opportunities
• A comprehensive Total Rewards Program including bonuses and flexible benefits
• Competitive compensation

 RBC is committed to supporting flexible work arrangements when and where available. Details to be discussed with Hiring Manager. RBC requires as a condition of employment that all successful candidates in the United States and Canada be fully vaccinated against COVID-19 prior to their start date, and may require proof of the same.  Reasonable accommodation is available where required by law.