Head of Tax

Arkansas Employer • Lowell, AR, United States • $200k - $250k / year • 1m ago

Arkansas Employer - Head of Tax - Lowell, Arkansas

The Head of Tax is responsible for providing leadership and coordinating tax compliance, research, and consulting activities for the bank group. The incumbent must develop and maintain effective policies, procedures, and practices that are consistent with business objectives and ownership philosophy while also compliant with all taxing authority codes and regulations. The incumbent is also responsible for analyzing and/or developing tax savings ideas for the bank group and serves as a key advisor on all tax issues, including federal and state taxation, information reporting, franchise taxes, state credits, etc.

What You'll Do at Arvest: (Other duties may be assigned.)

Lead the Arvest Tax Department in an effective and efficient manner.
Lead, mentor, and develop the tax team, encouraging a positive environment whereby associates are challenged and motivated to do their best.
Identify current and future talent needs, assess strengths and gaps, and put development strategies in place.
Direct research, analysis, and interpretation of corporate income tax laws, regulations, and statutes and other relevant guidance focusing on mitigating adverse tax consequences or creating savings for the bank.
Synthesize complex income tax issues and communicate them in a clear and succinct manner.
Partner with and build relationships with management and other key internal leaders to provide innovative tax advice and identify tax planning opportunities resulting from changes in business processes or operations.
Provide strategic direction on these opportunities and develop tax saving strategies for the bank.
Collaborate with senior and executive management in an advisory capacity to identify emerging opportunities and issues including tax issues associated with business initiatives, geographic expansion, investment, and acquisition targets.
Direct and coordinate the efforts of external tax consultants and advisors including the appropriateness of scope and use.
Oversee year-end audit provision with external auditors while collaborating with the accounting team on the external audit and financial statements.
Provide annual updates to the audit committee.
Ensure processes utilized within the tax department are efficient and effective.
Drive efficiencies in the tax and compliance processes by adopting innovative solutions (e.g., process improvement, artificial intelligence, machine learning).
Oversee the tax compliance process for the bank group including enhancing process efficiencies, ensuring timely filing of returns, and setting the tone in promoting risk management throughout the process.
Develop and oversee the implementation of effective policies to ensure accurate and timely tax information reporting (e.g., 1099-INT, 1098, etc.) on a consistent basis.
Provide oversight of the monthly income tax provision by collaborating with accounting and other business units on the preparation of the various tax accruals.
Collaborate with Chief Investment Officer and other executive leadership to identify and acquire appropriate tax credit or other desirable investment vehicles.
Monitor, research, and otherwise manage the bank group's state transactions and apportionment sourcing to determine nexus for both tax liability and reporting exposure.
Ensure appropriate business practices are adapted as states change their assertion of taxing authority.
Interact with bank/business unit/shared services leadership as needed.
Participate in appropriate external peer networks and other industry meetings to keep knowledge current as to best practices for tax department management and for developing or proposed rule/law changes.
Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties.
This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.