Job Summary

Job Description

What is the opportunity?

In this role, you will be responsible for handling all policy tax-related tasks, respond to general taxation inquiries, calculate tax implications on dispositions and process Adjusted Cost Basis (ACB) resets in the systems.

You will be responsible for overseeing Year End Tax Reporting – which includes tax processing for all lines of business for RBCI.  Validate taxable gains, submission of the XML files to Canada Revenue Agency/Revenu Québec (CRA/PQ) and issuing tax slips to our policyholders within CRA timelines.

Reporting Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) policyholders to CRA. 

This role gives you the opportunity for continuous learning, collaboration with a variety of teams and building effective, strong work relationships. In addition, you will play a critical role in ensuring RBC Insurance meets taxation regulatory requirements.

What will you do?

• Respond to tax inquiries from both internal and external clients regarding our life insurance policies and registered policies

• Process ACB resets for Transfer of Ownerships and Loan repayments

• Collaborate with our business partners to review Year End Tax queries, monitor the CRA/PQ website for Tax slip changes and validate data to ensure accuracy in tax reporting

• Review and sign-off on all tax jobs and submit the XML files to CRA/PQ; oversee the printing of tax slips to our policyholders within prescribed timelines

• Responsible for the submission of all reportable CRS and FATCA policyowners to CRA within prescribed timelines and review annually all the pre-existing exempt policyholders

• Responsible for maintaining awareness and acting in accordance with RBC Risk Management policies of Conduct; Privacy; Anti-Money Laundering; Anti-Terrorism; Complaints Management; and Operational Loss reporting

What will you need to succeed?

Must Have

• Applicable post-secondary education and 5+ years of experience in the Insurance Industry handling policyholder taxation

• Accruing expert knowledge and understanding of policy’s adjusted cost basis (ACB) and taxation rules for life insurance and deferred annuity products

• Experience in policyholder tax reporting, issuing tax slips and submission of XML files to Canada Revenue Agency/Revenu Québec

• Knowledgeable on regulatory obligations of the CRA/PQ, CRS, FATCA and AML requirements, specifically within Life Insurance contexts

• Expert technical skills in Excel, Outlook and Word

Nice to Have

• Previous experience with CAPSCO systems

• Bilingual in French and English, written and spoken

• Loma/FLMI designation or equivalent

What's in it for you?

• A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans

• Competitive pay and high-earning potential

• All the tools, training, and team support you need to grow your career

• Flexible work/life balance options

• Sophisticated RBCI software tools to boost your productivity

Job Skills

Active Learning, Adaptability, Critical Thinking, Customer Service, Decision Making, Detail-Oriented, Group Problem Solving, Insurance Policies, Interpersonal Relationship Management, Product Services, Taxes, Tax Reporting, Time Management

Additional Job Details

Address:

MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA

City:

MISSISSAUGA

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

INSURANCE

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2024-12-30

Application Deadline:

2025-01-14

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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