The Accounting Analyst will serve as a specialist, primarily to handle the tax allowance and other tax activities within the team in close coordination with the Tax team in Chennai and HQ, as well as design and implement tax processes and system improvements. The position also requires to interact with the payroll, AR, AP, People and Culture (PaC), Pension, and the Information and Technology Solution (ITS) teams.
Responsibilities:
Process U.S. tax allowance via PeopleSoft Tax Allowance system.
This includes, but is not limited to, verify, and analyze quarterly tax allowance calculations/payments and prior year tax allowance reconciliations.
Manage U.S. citizen staff tax transactions, verifying their status through HR-PeopleSoft, their payroll earnings through Payroll-PeopleSoft and any other non-payroll taxable earnings through SAP-AP, to ensure that earnings are in accordance with the Bank Staff Rules, to quality check their integrity and accuracy and to ensure that they are included in the tax allowance calculations in accordance to Staff Rule 6.04.
Verify tax certificates submitted by staff (Form 70) to determine current year tax allowances and necessary adjustments to prior tax allowance payments.
Manage Safety Net transactions, analyzing the tax returns against the World Bank Group Tax System considering Bank Group policy and IRS and state tax regulations.
Monitor the Tax exception reports to detect anomalies in the tax allowance payments that require research and correction.
Analyze/research/act on requests/queries related to tax allowance payments, earnings, and deductions, engaging in discussion as needed to understand and determine actions required.
Provide support to staff by responding and managing Tax Office phone calls and emails queries.
Coordinate tax allowance related matter with overseas staff who are either on extended or short-term assignments,
Provide guidance to Accounting Assistants in the processing and verification of tax allowances.
Identify process improvements, participate in Tax-related projects, and provide testing support for the system enhancements.
Work with Accounting Officer on tasks such as analyze tax laws/policy related matters and determine necessary changes to the tax allowance calculations and tax system; and analyze accounting data to ensure integrity of the WBG’s financial records.
Manage the monthly and quarterly reports for the unit.
Review and update the procedure manuals as and when required.
Requirements:
Bachelor’s or Master’s degree (Finance, Accounting, and Taxation).
Professional accounting qualification (CPA, CA) or IRS Enrolled Agent not mandatory, but is a plus.
Specialized in U.S individual income taxation, preferably in a Big 4 accounting firm with minimum of 3 years’ experience in preparation and review of individual tax returns and gross-up/tax equalization calculations for U.S./Non-U.S. assignees of multinational corporations.
Technical qualification or certification may be desirable (Ex. Six Sigma, PMP certification).
