At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New Jersey, Jersey City office.

Primary Responsibilities/Essential Functions:

Strong understanding of the DTCC EDS process including interpreting important notices
Strong understanding of cost basis reporting (1099B), previous experience working with Refinitiv a plus
Daily analysis and processing of NRA 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.
Insure 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.
Communicate tax-related changes that have impacted on information, documentation, reporting ad 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.

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.