Analyst, Tax Operations

HSBC; Jersey City (NJ); On-site; USD 90,000 - 130,000; Full time

Job summary

HSBC is seeking a skilled tax services professional in New Jersey to oversee withholding and remittance activities, including 1099 and 1042s, with emphasis on Chapter 3, 4, and 62 withholding. The role requires strong Excel proficiency, detail orientation, and knowledge of domestic markets in equity and fixed income.

You will develop and maintain tax rules, advise on withholding rates, and coordinate with internal teams to ensure regulatory compliance and timely client reporting.

Qualifications

• Must have computer literacy and proficiency with Excel and Word.
• Strong knowledge of Domestic markets, equity and fixed income products.
• BA/BS degree or equivalent industry experience is required.

Responsibilities

• Daily analysis and processing of Chapter 3, Chapter 4, and Chapter 62 withholding on CA/Income events.
• Reconciliation of withholding tax and income/exemptions codes reported to clients.
• Communicating and processing elective dividends through the depository with respect to foreign withholding rates.
• Client certification of foreign positions through external platforms such as Acupay.
• Maintain written procedures and compliance with US regulations and internal policies.

Skills

Excel

Word

Attention to detail

Problem solving

Communication skills

Education

BA/BS degree or equivalent

Job description

Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

The position includes the daily oversight responsibilities for NRA withholding and remittance, 1099 and 1042s tax reporting and reconciliation, development and management of system tax rules, allocation of withholding rates, special tax services (i.e. EDS elections, Tax reclaims and Acupay certifications).

Primary Responsibilities/Essential Functions

• Daily analysis and processing of Chapter 3, Chapter 4, and Chapter 62 withholding on CA/Income events
• Reconciliation of withholding tax and income/exemptions codes reported to the clients
• Communicating and processing elective dividends through the depository with respect to foreign withholding rates
• Client certification of foreign positions through the use of external platforms such as Acupay
• Ensure the ongoing development and maintenance of written procedures and adherence to all US regulations as related to the services, along with the adherence to internal banks and business line procedures and policies
• Reconcile and prepare client 1099 and 1042s forms
• Analyze, review, and update client Cost Basis for securities held in Arranged Finance accounts
• Communicate tax-related changes that have impacted on information, documentation, reporting and withholding regulations to clients via the issuance of Market Updates/Newsletters
• Provide support and guidance to all internal tax related areas with respect to tax related queries
• To contribute to the maintenance of an effective quality service and reduce client risk to a minimum by ensuring that all work is processed within agreed timelines and complex client queries are responded to efficiently
• To work with the other teams to ensure HSS continue to provide a top quality services to our clients

Management of Risk

• Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations
• Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues
• Each employee must promote an environment that supports diversity and reflects the HSBC brand

Observation of Internal Controls

• Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments
• Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy

Qualifications

• Computer literacy, knowledge of Excel and Word, detailed oriented, good problem solver, should have good communication skills
• Must have strong overall knowledge of Domestic markets, with emphasis on Equity and Fixed Income products
• Minimum of a BA/BS degree or equivalent industry experience

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.