Tax Analyst, Insurance/Annuities Compliance
Job Code: 392898
Job Location: New Jersey-Newark
The specific Product Tax Unit position being interviewed for at this time is Insurance. Applicants with Annuities Products/Compliance also being considered. (see below).
This position may sit in either Newark, NJ or Fort Washington, PA locations.
Prudential Financial is seeking a motivated individual to join the Product Tax Unit as a Tax Analyst. The position requires a team player who is highly organized, responsive, and flexible, with the ability to handle multiple projects achieving sustainable results.
The Tax Analyst will provide compliance support to one or more Prudential Business Group(s). Responsibilities include, but are not limited to, communicating IRS requirements to business partners, assisting with implementation of new IRS guidance, and ensuring products and services comply with all tax rules. The successful applicant will serve as a liaison between Corporate Tax and the applicable Business Group(s) and support business activity to ensure compliance with the tax rules. Areas of general knowledge and support with respect to the various Prudential Business Groups are described below. Note: Applicants are not required to have product tax knowledge when applying for this position. However, the successful candidate must have a willingness to develop technical tax skills, as well as the flexibility to move from supporting one Business Group to another.
This is a high visibility position that requires individuals who can effectively interact with all levels of management. This position provides excellent opportunities for growth and development. It is ideal for an individual with the right skill set, who is energetic, motivated, creative, and proactive, and is experienced in developing/managing business relationships.
Qualifications by Business Group
General understanding of tax rules applicable to insurance products, including:
o knowledge of Internal Revenue Code sections 7702, 7702A, 72(e)
o knowledge of tax rules impacting individual taxpayers and business entities necessary for review of marketing materials and prospectuses (Series 6 license helpful, but can be obtained after hire)
o Operational calculation experience helpful
· General understanding of business and/or tax rules applicable to:
o non-qualified annuities (deferred annuities/annuities in payout/inherited annuities)
o traditional and Roth Individual Retirement Annuity (IRA) contracts (deferred annuities/annuities in payout/inherited annuities)
o annuities purchased by employer sponsored plans, including 401(a), 403(b) and 457 plans
General understanding of investment products and the asset management business, including:
o knowledge of tax rules applicable to real estate and mortgage investments, capital management, fixed income assets, debt and equity interests, etc.
o understanding of the tax impact of investment solutions for domestic and international clients plans
Information Reporting and Employment Tax
Technical and operational knowledge of federal, state and local tax information reporting and withholding rules, including familiarity with:
o Forms W-2, 1099 and 1042-S (including B-notice and TIN penalty notice requirements)
o Form W-8/W-9 rules for U.S. withholding agents (including FATCA)
o income and employment tax rules, including state sourcing, fringe benefits, equity and deferred compensation plans and international assignee rules
General understanding of tax rules and DOL requirements for qualified and non-qualified plans, including 401(a), 403(b), 457 and 409A plans, including:
o familiarity with qualified plan documents, design and nondiscrimination requirements
o working knowledge of EPCRS
o ASPPA designation(s) (e.g., QKA, QPA, CPC) helpful
General Qualifications (All Business Groups)
· Bachelor’s degree or at least 5 years working in a related position
· Ability to perform technical research using multiple resources (manuals, web-based)
· Strong written, verbal, quantitative and analytical skills
· Support product and systems development and enhancements
· Ability to work independently as well as within a team structure
· Participate on project teams for new products and business initiatives
· Ability to learn and adapt to change
· Strong work ethic
· Ability to work well with others and display objectivity in difficult situations
· Organized and flexible
· Understanding of risk management and/or compliance concepts
· Proven leadership track record
· Project management skills
· Legal, compliance or risk background helpful
· Controls, operations or product background helpful (for one or more Prudential Business Groups)
· Outside candidates are being considered
· Travel to other Prudential locations may be required
Any applicant selected for this position will be required to submit to an extensive background screening and a credit check. Failure to comply will eliminate an applicant from consideration for this position. Any negative information obtained as a result of the background screening may result in the disqualification of the applicant from this and any other position in Prudential, including their current position if an internal applicant.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at email@example.com for more information about doing business with Prudential.
Job Function: Tax