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Bank of America CFO Tax Counsel in New York, New York

CFO Tax Counsel

New York, New York

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:

Responsible for complex tax planning, forecasting, and/or advisory responsibilities. Activities include complying with complex tax reporting requirements of various governmental jurisdictions in a manner that minimizes tax liabilities; researching tax issues, developing effective tax minimization strategies; and providing business unit support to business partners on more complex issues. May manage highly complex business partner relationships and will have depth of expertise for relevant area.

The Tax Counsel is responsible for rendering tax advice to Bank of America businesses and managing the tax risk associated with new and existing products, transactions and offerings. The role requires the ability to research, analyze, interpret and explain complex tax rules to numerous tax and non-tax technical stakeholders.

The Tax Counsel will:

  • Review new products and services to evaluate the potential impacts to the Company's tax and accounting positions in all relevant jurisdictions, including considering the tax impact and suitability requirements for potential clients and determining the information reporting and withholding tax consequences.

  • Review and evaluate the impact of any new or proposed tax laws, regulations, administrative guidance or other authorities that affect existing products and services and communicate the impact to stakeholders. Work closely with the relevant affected business to implement changes to approvals or draft guidelines necessary to comply with such new tax laws or regulations.

  • Draft legal memoranda or other documentation/summaries/presentations, as appropriate, setting forth the tax technical analysis and rationale for tax positions.

  • Review and negotiate tax provisions in client-facing agreements and contracts, such as ISDAs, credit agreements, repurchase agreements and securities lending agreements.

  • Work closely with and support colleagues in the Global Tax Function, including colleagues in Enterprise Tax Planning, Accounting for Income Tax, Tax Compliance and International Tax to ensure the impact of business activities, initiatives and/or investments are properly accounting for and all tax attributes are properly reflected.

  • Collaborate with and build relationships with colleagues in the Businesses and across other Support Functions (e.g., Legal, Accounting Policy, and Treasury) to develop a deep understanding of our products and services and mitigate tax risk.

  • Manage external tax counsel on advisory engagements, including defining the scope of the work and independently evaluating the advice rendered.

  • Participate in industry organizations, working groups and other tax advocacy efforts on behalf of Bank of America.

Skills and Qualifications:

  • Minimum 5 years of Legal experience in a law firm, accounting firm, financial institution, other financial services firm or multi-national corporation

  • Excellent written and oral communication skills, including presentation skills

  • Ability to thrive in a fast-paced environment and deliver work product in abbreviated timeframes

  • Good organizational and prioritization skills

  • Analytical Thinking

  • Policies, Procedures, and Guidelines Management

  • Tax Administration

  • Continuous Improvement

  • Problem Solving

  • Process Performance Management

  • Relationship Building

  • Stakeholder Management

  • Attention to Detail

  • Financial Analysis

  • Project Management

  • Reporting

Desired Skills:

  • LL.M. in Taxation or Masters in Taxation preferred

Minimum Education Requirement: Juris Doctorate Degree

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .

To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.

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