Senior Tax Reporting Specialist

Job Description

Job Specifications

Key Responsibilities

• Prepare, maintain, and implement year-end tax reporting schedule.

• Configure all tax system and business account setups.

• Complete year-end reconciliation of fund distributions, withholding taxes, specimen plans, RSP contributions, TFSA and RESP reporting, dispositions, and estate reporting.

• Verify tax form output and Extensible Markup Language (XML) files are compliant with government reporting requirements.

• Ensure tax form distribution and government filing submissions are completed before CRA/MRQ deadlines.

• Liaise with vendors (IFDS/DSTO) to coordinate the transmission of print files, production and mailing of the forms as well as the provision of access to the same information for Client Services.

• Provide subject matter expertise on enquiries relating to tax reporting. Serve as lead in researching legislative changes and acquiring relevant information from tax sources and governing bodies to assist internal departments with their operations.

• Manage the following tax work item queues: tax adjustments/slip amendments, duplicate tax and contribution receipts, and estate tax reporting.

• Ensuring service levels are met.

• Ensure that all process and procedures pertinent to the Tax Reporting functions are documented and updated; submit to the Change Control committee for approval. Execute monthly checklist procedures related to distribution tax factor reconciliations.

• Responsible for tax-related UAT system developments. In conjunction with the UAT manager/Specialist, coordinate and/or perform all UAT activities to ensure all testing objectives and development items are completed successfully before the implementation release dates.

• Review all EBS (Enhanced Business Specification) and FTP (Functional Test Plan) documents created by IFDS and verify the test plan design. Includes direct performance of UAT function, coordination of resources (where available) and analysis of test defects and reporting them to the UAT committee.

• Participate in UAT conference calls and provide status updates to management.

• Complete weekly and monthly reconciliation of IFDS withholding tax remittances against T4/R2/NR4 tax extract reports.

• Generate mutual fund T3/R16/T5/R3/NR4 tax extract reports monthly for the fund reporting department and assist team with any reconciliation discrepancies. Generate segregated fund T3/R16/NR4 extract tax reports quarterly for our Quebec fund accounting department and assist them with any reconciliation variances. Perform monthly exception reporting to correct invalid data records.

• When possible, support the Project Management Function by serving as a business analyst or by taking on the coordination and management of projects as assigned.

Education/Experience

• Minimum 5 years tax reporting in the mutual fund industry

• Solid understanding of tax legislation and investment fund business:

  • RRSP/LIRA/LRSP/RLSP, RRIF/LIF/PRIF/LRIF/RLIF, TFSA, RESP, etc.

  • Mutual and segregated funds

  • Client conversions, fund launches, and fund mergers

• Technical knowledge of tax reporting and CRA/MRQ filing requirements:

  • Contribution Receipts

  • T3, T4RSP, T4RIF, T4A, T5, T5008, NR4, TFSA

  • RL1, RL2, RL3, R16, R18

  • Trustee Filing (T550, T3GR)

  • Estate Reporting

  • 1099DIV, 1099B

  • Extensible Markup Language (XML) files and parsers

• Business and technical knowledge of an investor recordkeeping system is highly recommended, iFast and AWD applications an asset

• Perform UAT activities such as preparing test plans, reviewing business and functional documents, unit testing, and resolving test defects

• Previous experience in dealing with Trustees, CRA, and MRQ highly preferred

• Experience in dealing with tax adjustments, account reconciliation, government correspondences, notice of assessments, business account setups, and filing summaries

• Completion of post-secondary education in Business or Finance

• Completion of IFIC Operations Course or CSC preferred

• Supervisory experience is considered an asset

• Working knowledge of excel data functions, pivot tables, and formulas is an asset

Location(s) Toronto, Ontario Other Possible Location(s)
Company IA Clarington Inc. Posting End Date 2024-11-04 Company Overview

iA Financial Group is the strength of a company with a human side, with its over 8,000 employees. Together, we have earned the trust of our more than four million clients and 25,000 advisors who have chosen us for their insurance, savings, and wealth management.

With over $200 billion in assets and half a billion invested in technological innovation, we’re a key player in the financial services industry in Canada and the United States. The secret to our success? Investing in you, one person at a time. Because, for over 125 years, we have believed that it’s by supporting our employees and surrounding ourselves with the most reputable leaders in the industry, we will continue to innovate.

At iA, we’re invested in you.

Our Commitment to Diversity and Inclusion

At iA Financial Group, we support and celebrate diversity. We strive to provide a workplace that is recognized as inclusive for all, regardless of ethnic origin, nationality, language, religious beliefs, gender, sexual orientation, age, marital status, family situation, or physical or mental disability.

Please note that if you need help or assistance to make the recruitment process more accessible for you, please Contact us here . Someone from our team will be happy to assist you with your needs.