Job Details

Banking Operations Manager - Regulatory and Legal OperationsSummaryThe Legal and Regulatory Manager is responsible for overseeing complex regulatory, tax, and reporting obligations across Banking Operations. This role ensures compliance with federal and state regulatory requirements related to tax withholding and reporting, customer documentation (W8/W9), escheatment (unclaimed property), and Currency Transaction Reporting. The manager serves as a key control owner, partnering with Compliance, Control, Risk and Operations partners to mitigate risk, ensure accurate processing, and support internal and external reviews.Working ModelWe have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.Key ResponsibilitiesOversee W-8 and W-9 certification and recertification processes , ensuring proper documentation, validation, and curing of missing or incorrect formsManage withholding tax compliance for U.S. and non-U.S. account holders, including backup withholding and NRA/FATCA withholding, and ensure correct tax rate applicationLead preparation, review, and filing of IRS Forms 945 and 945-A , including reconciliation of withholding liabilities, deposits, and IRS transcriptsOversee preparation and filing of IRS Form 1042 and Forms 1042-S , including data validation, reconciliation of withholding and income reporting, and coordination of extensions when necessaryEnsure accurate IRA tax maintenance , including withholding, reporting, and coordination with Forms 1099‑R and related retirement account reporting processesReview and approve tax reconciliations, working papers, and supporting documentation; ensure compliance with internal document retention and audit standardsMonitor IRS correspondence, notices, and transcript discrepancies; lead investigation and resolution efforts in partnership with Operations and LegalEnsure Escheatment (unclaimed property) reporting is done accurately and timely according to various state requirementsEnsure Currency Transaction Reporting (CTRs) are filed timely and accuratelySupport internal and external audits, regulatory exams, and risk assessments related to withholding and information reportingProvide subject‑matter expertise and guidance to operations teams on tax documentation, withholding rules, and change‑in‑circumstance eventsOversee general ledger activity and reconciliationIdentify process improvement opportunities and implement controls to enhance accuracy, efficiency, and regulatory complianceRequired ExperienceBachelor's degree in Accounting, Finance, Tax, or Business related field7+ years of experience in tax compliance, withholding regulatory reporting, or information reporting , preferably within banking or financial services operationsHands‑on experience with W-8 and W-9 documentation , backup withholding, NRA withholding, and FATCA conceptsExperience preparing or reviewing Forms 945, 945-A, 1042, and 1042-SStrong knowledge of IRA‑related tax reporting and withholding (e.g., distributions, reporting coordination)Ability to manage IRS inquiries and transcript reconciliationsFamiliarity with Bank Secrecy Act requirementsAdvanced analytical and reconciliation skills with strong attention to detailExcellent written and verbal communication skillsAbility to explain complex tax concepts to non‑tax partners and create partnerships with key NT stakeholdersPreferred ExperienceFamiliarity with IRS Publications 515 and 1187 and electronic filing requirementsExperience leading or mentoring tax analysts or SMEs1LOD Control FunctionsStrong Excel skills and experience working with large data sets and tax workbooksReasonable AccommodationNorthern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.#J-18808-Ljbffr