What is the opportunity?

As a Tax and Regulatory Support Specialist your primary responsibilities will be filing policyholder taxable gains for all blocks of business and reporting Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) policy owners to Canada Revenue Agency (CRA).  Additionally, you will oversee the enhanced due diligence process of high risk clients and perform Anti-Money Laundering (AML) transaction monitoring within a defined scope. This role gives you the opportunity for continuous learning, collaboration with a variety of teams and building effective, strong work relationships.  In addition, you would play a critical role in ensuring RBC Insurance meets taxation, CRS, FATCA and AML regulatory requirements.

What will you do?

- Responsible for filing of policy holder taxable gains to CRA and mailing of tax slips to policyholders within prescribed timelines and handling all tax related tasks throughout the year.

- Responsible for the submission of all reportable CRS and FATCA policy owners to CRA within prescribed timelines and review annually all the pre-existing exempt policy owners.

- Responsible for monthly review of the CRS, FATCA, (AML) and High Risk Clients (HRC) reports to ensure accuracy and regulatory compliance.  Document errors and omissions if required, and be the point of contact for all CRS and FATCA inquiries from the Regulatory Governance group.

- In this role, you will promote and maintain positive relationships with clients, regulators and business partners.  You will handle and resolve complex tax inquiries and escalations.

- Responsible for maintaining awareness and acting in accordance with RBC Risk Management policies of Conduct; Privacy; Anti-Money Laundering; Anti-Terrorism; Complaints Management.

What will you need to succeed?

Must Have

- Applicable post-secondary education, and 5+ years of experience in the insurance industry handling policyholder taxation; accruing expert knowledge and understanding of policy’s adjusted cost basis (ACB) and taxation rules for life insurance and deferred annuity products

- Experience in policyholder tax reporting, issuing tax slips and submission of XML files to Canada Revenue Agency and Revenu Québec

- Knowledgeable on regulatory obligations of the CRS, FATCA and AML requirements, specifically within life insurance contexts

- Expert technical skills in the area of Excel, Outlook and Word

Nice to Have

- Previous experience with CAPSCO systems, Bedrock, and PASport

- Bilingual in French and English, written and spoken

- LOMA/FLMI designation or equivalent

What’s in it for you?  

- A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans

- Competitive pay and high-earning potential

- All the tools, training, and team support you need to grow your career

- Flexible work/life balance options

- Sophisticated RBCI software tools to boost your productivity