This position is an extension of the Compliance department. The FATCA/ CRS Analyst is responsible for the collection and reporting of FATCA and CRS data. The FATCA/CRS Analyst will help assess the client data and documents to identify potentially reportable clients across jurisdictions and will liaise with clients or relationship managers to update the reportable details before submitting the final reports to the regulatory portals. The Analyst is required to understand relevant OECD and IRS legislation to carry out this function
Process for FATCA/CRS Role
- Work closely with different jurisdictions to ensure the filing of regulatory reports for FATCA/ CRS are met.
- Complete registration on the IRS and relevant jurisdiction’s tax portal where required.
- Assist with registration or change of Responsible officer (RO) and principal point of contact (PPOC) where required.
- Perform initial review of investors data and collaborate with clients to address any deficiencies.
- Review Self-Certification forms of investors that we provide FATCA/ CRS services to identify their FATCA / CRS Classification.
- Validate GIINs provided by investors against IRS published information and flag any that cannot be verified for query.
- Complete flying boat and send for XML conversion.
- Submit FATCA and CRS filings to the relevant jurisdictions.
- Keep up to date with all FATCA and CRS schema changes by Monitoring of local regulations, deadlines, and FATCA / CRS regime.
- Complete relevant W forms and CRS self-certification forms on behalf of our client’s entities.
- Undertake all activities within the defined processes.
- Identify areas for process improvements to maximize the efficiency of your role.
In addition to the above, the candidate will be involved in the below tasks:
- Perform AML/KYC onboarding & periodic reviews on clients and investors in accordance with service jurisdiction regulations.
- To conduct name screening, review of due diligence documents, and risk assessments.
- To review source of wealth & funds background of clients and investors in line with regulatory requirements.
- To ensure KYC documents are up to date and properly recorded.
- To provide independent recommendations to mitigate the identified risks.
Key competencies for position and level
- Very good understanding of FATCA and CRS regulations is required
- At least 2 years’ experience in client documentation and reporting is required
- Strong analytical skills with excellent attention to detail
- Results oriented and ability to multitask and manage high volumes of priorities in a fast-paced environment
- Exposure to FATCA and CRS as well as a knowledge of XML are essential.
At IQ-EQ we want you to reach your full potential. We offer an inclusive and diverse environment to support your career aspirations. With a strong emphasis on continuous learning and a holistic approach to your professional and personal development. We also offer opportunities across our service lines and our international network of offices.
IQ-EQ is a leading Investor Services group which combines global expertise with an unwavering focus on client service delivery. We support fund managers, global companies, family offices and private clients operating worldwide.
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