Manager– Bank Operations, Tax Reporting, Compliance, And Risk
Glen Allen, Virginia
Built and enhanced enterprise tax reporting capabilities and operations through effective visual process management, data-driven decision-making, risk analysis, and control plans. Developed comprehensive process documentation for tax, bankruptcy, and KYC operations, leveraging metrics and controls to optimize operations, minimize risk, and provide auditable evidence for regulators and auditors. Implemented State tax withholding, reporting, and remittance procedures for interest transactions on IRA and deposit accounts, ensuring compliance with state regulations.Key Accomplishments:• Led cross-functional teams to transition from mailing customer tax forms to an online platform, leveraging Amazon cloud services, resulting in annual savings of $340K in paper costs.• Assumed responsibility for IRS reporting, regulatory management, compliance controls, customer data improvement, and year-end tax form delivery, resulting in improved reporting accuracy, elimination of $1.5M in penalties, reduced B-Notice exposure, and resolution of significant audit findings.• Directed Treasury team in evaluating technology and business processes for domestic and international wire systems, identifying immediate cost savings of $1.4M by eliminating redundant systems and streamlining processes. Additionally, reduced operational risk and documented requirements for an enterprise wire solution.