Director Tax Accounting/Reporting Jobs in Birmingham, AL at Synovus Financial
Title: Director Tax Accounting/Reporting
Company: Synovus Financial
Location: Birmingham, AL
Salary: $200K – $250K*
Category: Finance & Insurance
Responsible for the accuracy of financial accounting for income taxes and the related disclosures: including SEC, regulatory and management reporting of tax matters. Oversees compliance with established accounting principles and standard for tax reporting which requires monitoring business transactions for tax implications and keeping abreast of accounting/regulatory pronouncements.
Job Duties and Responsibilities:
Manages the tax provision process. The responsibility includes maintaining adequate records supporting tax computations, documentation of findings/conclusions and evidence of review of the financial statement reporting of tax expense, tracking and reconciling changes in deferred tax assets and liabilities, reconciling tax cash flows and unrecognized tax positions, and overseeing activities to tax account balances. Prepares file memos explaining the tax accounting for discrete events and non-routine transactions within designated timelines.
Determines income tax expense. This responsibility includes the maintaining forecasted effective income tax rate under various scenarios, as well as owning the OneSource Tax provision tool’s computations based on the YTD actual operating results. Reconciles the financial statement tax provision expense to actual tax liability annually incurred and corrects errors when discovered. Prepares documentation explaining all material changes from the expected results.
Ensures adequacy of income tax account balances. This responsibility includes attesting to the adequacy of account balances, managing the affiliated companies use of the tax accounts for consistency and addressing tax-related general ledger needs. Requires developing procedures for tax account reconciliations and validating quarterly, including the inter-corporate tax cash-flow exchanges between affiliates and parent companies.
Owns the variance reporting and various closing responsibilities for income tax accounting. The responsibility includes maintaining reports that explain variances in year-over-year and quarter-over-quarter reporting. Requires the individual conduct a detailed review of the of the tax accounting results and related processes before delivering to management
Maintains the inventory of UTPs. Responsible for documenting UTPs, measuring and reporting changes in the required balance and ensuring timely release of reserves.
Oversees the regulatory reporting of tax matters. Prepares the annual and quarterly tax disclosures including the tax footnote and MD&A explanation. Provided data necessary to draft tax disclosures in FDIC Call report and Capital reporting.
Helps minimize tax risks by identifying critical controls required under SOX 404 relative to the tax function and documents the Tax Department’s compliance
Oversees periodic examinations of tax accounting by regulators, internal audit, external auditors, and outside tax advisor. Provides tax audit support and acts as a liaison in responding to inquiries by examiners
Improves tax accounting process by developing and/or implementing best practices.
Partners with the Strategic Finance group for DFAST reporting. Prepares a forecasted effective income tax rate as well a deferred tax balances under multiple scenarios. Reconciles and explains system differences. Provides all supporting data in an organized manner.
Remains knowledgeable of all significant transactions impacting the financial statement for Syno…