Summary: This position is responsible for the Company’s tax compliance, tax planning and accounting for income taxes. The successful candidate will work with business lines, service providers, and other tax professionals in carrying out his or her responsibilities. He or she will work with financial management within the Company and third-party service providers. In the beginning, tax work is not expected to require 100% of the Tax Manager’s time and they will be asked to do other accounting and financial planning & analysis (FP&A) tasks.
Expected Outcomes: A successful Tax Manager will understand and be able to apply the appropriate tax accounting to all the Bank’s businesses and ancillary investments. They will be able to understand the implications of changes to tax law and how it applies to the Bank. They will also understand the GAAP and tax differences for the Bank’s various activities and become expert in Low Income Housing Tax Credit (LIHTC) accounting.
Essential Duties and Responsibilities:
- Reconcile deferred tax assets / liabilities
- Follow up on state tax questions and audits
- Manage the apportionment process for state tax filings
- Review monthly tax provision
- Monitor state and federal tax laws (and law changes) for compliance or opportunities for the bank
- Manage the annual state and federal tax filing process
- Manage Low Income Housing Tax Credit (LIHTC) accounting for Bank’s investments and bank’s fund syndication activities
- Manage / Monitor Payroll Tax process with Payroll department
- Review K-1’s from Bank’s various investments
- 5 years plus of related tax experience, preferred
- Bachelors degree required
- Tax and GAAP accounting, bank, or mortgage experience a plus.
- Requires intellectual curiosity, strong collaboration and teamwork skills, and an ability to adapt to changing priorities and learn new businesses quickly.
- CPA and / or MBA preferred, but not required.
All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.
Additionally, all employees are expected to demonstrate the following Core Competencies:
Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.
Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.