Senior Manager, Tax, Reporting & BOR
Wealthsimple Brokerage Operations Managers own and scale processes intelligently, with analytics, grit, and grace. We manage billions of dollars, so the stakes are high. We want to deliver extraordinary experiences that meet our client's on-demand expectations, while being a compliance leader. At Wealthsimple, we are maker-owners, we believe that simple is better, and we do what's right for each client.
- Report to the COO and head of brokerage operations and lead a team of one direct and three indirect reports
- Own the day to day operations of the team and provide significant support and leverage to the COO.
- Focus on implementing process improvements and efficiencies which allow us to scale and support company growth.
- Lead the coaching and professional development of your direct report.
- Enable the delivery of accurate & reliable client tax slips and client account statements:
- Project manage the executing of a cross-functional roadmap.
- Identify and resolve regulatory gaps, and ensure new products are implemented in a compliant manner.
- Partner with Engineering, Product and other Operations teams on the prioritization of initiatives, provide tax subject matter expertise and balance ‘quick wins' with longer term goals/objectives.
- Perform technical tax research, summarize your findings and provide recommendations to senior management.
- Lead seamless, cross-functional execution throughout each tax season:
- Deliver all client tax slips on or before the CRA/MRQ/IRS regulatory deadlines with > 99.9% accuracy.
- Streamline and create scalable processes for investigating and solving all client-related tax slip questions/issues.
- Resolve client escalations and oversee communications with and submissions to the CRA/MRQ/IRS.
- Own the review and delivery of monthly client custodian/performance statements and annual CRM2 related statements:
- Perform monthly security pricing reviews and make adjustments in our systems where required.
- Develop and implement a statement review methodology to ensure the accurate reporting of client transactions and positions.
- Identify and secure resources for statement changes that are needed to support new products or regulations.
- Work closely with the Manager of Tax on the administration of the QI, FATCA and CRS compliance programs at Wealthsimple:
- Improve upon and maintain the review and compliance frameworks for each of these requirements, identifying regulatory gaps and implementing new processes and procedures to address them.
- Ensure accurate U.S. withholding tax is being charged to clients and that Wealthsimple is gathering appropriate and compliant account documentation (W8BEN/W8BENE/W9/KYC/RC518/RC519) where required.
- Has a CPA accounting designation and 7+ years in client tax reporting experience in the financial services industry; public accounting experience is an asset.
- Has a deep understanding of registered account administration and CRA/MRQ tax slip and XML reporting requirements as it relates to brokerage operations (T5/T3/T5008/T4RSP/RRSP/T5013/T4A/T4RIF/T4FHSA & the Quebec equivalents).
- Is experienced in performing technical tax research and presenting tax opinions in written or verbal format.
- Has experience managing a team through tax season and possess an inclusive, direct and growth-mindset leadership approach.
- Is deeply analytical. You are comfortable navigating large sets of data and pull insights from it; Strong experience in Excel is a must, familiarity with database querying (e.g., SQL) and Oracle is an asset.
- Has exposure to the U.S. withholding tax rules, U.S. tax slips (1099-DIV, 1042-S) and the QI regime is an asset.
- Is naturally curious and a problem-solver; if something seems off, you want to figure out what’s going on. You enjoy navigating uncertainty, bringing clarity to ambiguity and don’t wait for a playbook to be written.
- Is organized with a strong attention to detail and the ability to meet tight deadlines.
- Brings experience working with the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) is an asset.
- Is relentless when investigating issues as well as identifying and eliminating root causes.
- Is passionate about technology, specifically fintech.
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Wealthsimple is on the lookout for a passionate and driven Senior Manager, Tax, Reporting & BOR to join our remote team! In this pivotal role, you'll be a key player in owning and scaling our brokerage operations with a focus on delivering extraordinary client experiences. As your team supports the delivery of accurate and reliable client tax slips and account statements, you’ll report directly to the COO and manage a talented team. Your day-to-day will involve implementing innovative process improvements to enhance operational efficiency, while coaching and empowering your direct report to thrive in their professional journey. You'll harness your expertise in tax regulations to address compliance gaps and champion cross-functional collaborations across Engineering and Product teams. Your analytical mindset will be invaluable as you lead technical tax research, ensuring our practices align with the necessary CRA/MRQ/IRS deadlines with an impressive accuracy record. We seek someone who genuinely enjoys navigating data, identifying insights, and resolving client escalations with confidence. At Wealthsimple, you won’t just be filling a position; you’ll be driving meaningful changes that shape the future of fintech while ensuring our operations stand out in the financial services industry. If you have a CPA designation, experience in tax reporting, and a knack for problem-solving amidst ambiguity, we’d love to hear from you and see how you can contribute to our mission of providing simplicity and clarity to our clients!
To democratize financial financial services and make it accessible to everybody, regardless of age or net worth.
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