Management Manager
Resume:
Affan Kermani
Newark, DE ***02
Phone: 302-***-****
Email: ******@*******.***
Highlights
Withholding Tax & Tax Information Reporting
Internal Revenue Code Chapter 3, 4, 31 & 61 Compliance
W-8, W-9, 1099, 1042, 1042S, 945, CP2000 & Civil Penalty Notice
Taxation of Financial Products
Accounts Payable
Tax Research & Tax Training
Cost Basis Reporting
FATCA- Planning, implementation & Compliance
Enrolled Agent in progress
Tax Projects / Change management
Global account documentation
Interface with IRS on client tax information reporting matters
Employment History
Citibank NA (Instituitional Client Group-Treasury & Trade Solutions)
Tax InformationReporting & Withholding Manager (VP) (05-2010 – Present)
•
Migration & establishment of Tax withholding & information reporting team from FL & NY to DE
Tax process reengineering to establish controls & eliminate IRS exposure worth over $5M
Management and oversight of Tax withholding & information reporting team
Implementation and oversight of section 861, 1441,1442, 3406,6049, 6050 & Chapter 61 of the Internal
Revenue Code for GTS liquidity business globally
Tax Compliance advisory of chapter 3, 4 and chapter 61 of the IRC to Citi’s Instituitional Client Group-
Treasury& Trade Solution hubs in US, EMEA, LATAM & ASPAC
FATCA (1471-1474) subject matter advisory & support for system development and processes
Seamless integration of regulatory compliance & client experience to create competitive advantage
IRS civil penalty notice
Tax research and advisory on development & implementation of tax withholding system
Customized tax training for tax operations team & business partners on withholding & information
reporting regulations
Tax research to interpret sections 1441,1442 requirements to unique corporate client legal structures
Tax research & Training under FATCA 1471-1474 to advice and recommend process, procedure and
system requirements
Leading various tax projects and process change management for FATCA readiness for US, EMEA,
ASPAC & LATAM in collaboration with corporate tax.
FATCA Global US Tax Utility project to create a US Center of Excellence for Citi’s Instituitional Client
Group-Treasury & Trade Solution Centralized tax process.
Account opening documentation for Citi’s Instituitional Client Group-Treasury& Trade Solution
globally across 92 countires.
Training, development and management of offshore team of 17 in India as well as onshore team of 13.
JP Morgan Chase & Co (Private Bank) – Newark, DE .
Tax Compliance Officer (05-2009 – 5/2010)
•
Support Global Wealth Management business, (Geneva, London, Bahamas & the US) with advisory
services on documentation of foreign clients, QI filings, advisory on Section 3406, 1441, 1446 and Form
W8 for all operational teams within Wealth Management.
Provide advisory & research support for different client circumstances, including Foreign Partnerships,
Foreign Grantor trust, Complex trust & Simple trust, Foreign Corporations domiciled in various
countries.1099 & 1042S information reporting team oversight, ensuring the standards meets regulatory
requirements.
Tax research tools include RIAG, CCH and BNA, for researching and advising on tax reporting under
sections 1441, 1446, 3406, 6049, 6050, 988, 1256, 1274& other client reporting situations as needed
972CG reporting and abatement process
Development & delivery of training for account initiation & fiduciary services for section 1441 & 3406
compliance
Leading various tax projects and process change management
Tax Manager (06/2007 05/2009)
•
Managing 1099/1042S Tax & Information reporting team, with responsibilities for analysis of financial
products and transaction’s taxability, data integrity of accounting system, preparation of 1099 and 1042S
Forms for ultra-high net worth clients on Omni Trust and OneSource, producing tax packages for private
banking clients.
Specialized tax research & reporting for section 1256 & 988 contracts
Specialized tax research & reporting for contingent payment debt instrument, original issue discount
investments, ETN’s, municipal bonds, REIT’s, RIC’s, MLP’s, REMIC’s & WHFIT’s
Preparing and maintaining BCP’s & CSA’s as prescribed under Sox 404.
Liaison with IRS for clients on underreporting CP notices
Provide full support post tax reporting and identify opportunities to improve client experience and business
efficiencies.
Design & conduct information reporting workshops as well as 1099/1042S training classes for service teams .
Maintenance & development of tax withholding system
Oversight of IRS FIRE filing
Form 945 & 1042 reporting
Managing tax projects and change initiatives
Sr. Tax Analyst (03/2005 – 06/2007)
•
Managing 1099 tax reporting for Private Bank clients on Omni Trust, ensuring accuracy of data being
reported to the IRS, review and analysis of new securities issued to determine the taxability, review and
analysis of data processed by other OPS teams from a tax reporting perspective.
Ensuring reporting data integrity of over 2M reportable investment income transactions
Interacting with PB and IB middle office to gather information on securities trade and FX related matters.
Train new hires and seasonal staff.
Business requirement document for system enhancements for issues identified during reporting season and
performing testing and sign off on all enhancement projects for Omni Trust platform.
Training client service teams on 1099 & 1042S tax packages.
Tax Specialist (11/04 – 03/05)
•
Review of investment income transaction data for accuracy of coding in relation to 1099 & 1042S reporting
Calculation and transactional restatement for income reallocation process for mutual funds
Tax package data integrity review from tax preparer perspective
Cost Basis Reporting
Income reallocation for Mutual Funds, REITs & RICs
REMICS/WHFITS/OID
Continental Broker Dealer Corp – Garden City New York
• Trainee Broker
Shadowing a broker-dealer whilst obtaining Series 7 & Series 63 License. I attended meetings with the
client to understand their investment needs and objectives. Preparation of client ‘pitch pack’. Monitor
movement of stocks to make recommendations of buy or sell to clients. The position also involved cold
calling to pitch clients.
School of Finance and Management - London
• Lecturer Accountancy / Economics
• Preparation and delivery of course materials in Accountancy and Economics, to students pursuing professional
accountancy qualification of ACCA/CIMA and undergraduate students seeking BA in Finance.
• Accounting syllabus covering ledgers, trial balances, bank reconciliation statements, cash-flow statements,
balance sheets, cost behavior, forecasts and budgets, investment appraisals, capital reduction, reorganization and
reconstruction, share and business valuation and ratio analysis.
• Economics sysllabus covering Macro and Micro, economics, covering demand and supply, consumer behavior,
competitive markets, factors of production, economic efficiency, monetary policy, international trade, economic
growth, exchange rates and fiscal policy.
Academic Record
1993 - The Chartered Institute of Bankers England - Banking Certificate / Certificate in Branch Banking.
1996 – The Chartered Institute of Bankers/Institute of Financial Services England – Associateship (BSc
Financial Services )
2001 - UMIST - England - Diploma in Management Studies
2002 - NYSE / NASD Series 7 & 63 (not active)
2005-2012 – Tax withholding & Reporting Conferences
2008 – CAifs – Chartered Associate Institute of Financial Services
2012 – 30 CPE for EA/PTIN
2012 – CCH Reporting Foreign Assets & Accounts
2013- Enrolled Agent in progress
Additional Skills
FAS 109, FIN 48, IAS 12, ABP 23
2008 Preparation and presentation of information reporting & withholding seminar for Lorman
Proficient in MS Office Suite, adobe photo shop, MS IE, Galileo, some knowledge of SQL, IBM Extra –
Omni Trust, B&A, RIAG & OneSource
Excellent command of English Language (spoken and written)
Affiliations
Associate member National Association of Enrolled Agents
Chartered Associate Institute of Financial Services
Member National Association of Tax Professionals
Member American Accounts Payable Association
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