Nationwide Technical Director, Tax in Columbus, Ohio

Job ID: 51907

#corporatefinance

Job Summary

This is a key leadership role in the Tax Department that leads tax forecasting and provides critical subject matter expertise in property/casualty, life and investment tax issues. This involves working strategically with Nationwide’s major business units (including business unit CFO’s and actuaries) and corporate functions. In addition, the role supports both tax operations and planning. Key stakeholders include Controllership, Finance, Investments, Treasury, Enterprise Risk Management, EPM&A, and Corporate Development.

Relationship

Reports to Vice President of Tax and has three or more direct reports in matrixed work environment of the tax department. The matrix work environment requires this role to lead peers and associates other than direct reports to accomplish daily tasks and key objectives of the tax department. The role requires the Director to work with and influence multiple peers and associates in multiple departments across Nationwide.

Essential Core Duties and Responsibilities

  • Has key responsibility for designing and making operational the property and casualty, life insurance and investment income tax forecasting. Tax forecasting involves optimizing investment decisions, positioning Nationwide for the best possible use of tax attributes, evaluating forecasted tax posture and identifying tax planning alternatives, and understanding the underlying business considerations. Partners and communicates with key business unit leaders to provide strategic tax forecasting and planning alternatives that are used by leadership to evaluate cash tax posture, GAAP, Statutory and investment impacts in one-year operational forecasts and long-term planning. Decides with business unit leaders on initiatives to implement.

  • Subject Matter Expert for tax planning function in order to arrange day to day business transactions in a manner that will minimize tax liabilities and reflect desired tax risk posture. This involves working across the tax department and business units to ensure the transactions are fully evaluated and each unit’s criteria for success are met while minimizing risk.

  • Works with Nationwide Corporate Development and leadership to evaluate current and proposed business transactions by incorporating tax impact analysis. Decides on and recommends best structure to minimize tax liabilities at the federal and/or state and local levels to achieve the corporate objective for the transaction through a thorough knowledge and application of the consolidated tax return rules and regulations, including consideration of current tax case law, regulations, and pending tax legislation. Provides due diligence support by identifying potential risks and recommending indemnification requirements. This requires a review of all tax provisions, returns, acquisitions, divestitures, inter-company transactions, and reinsurance agreements. Tax areas include property/casualty insurance, life insurance, investments and C Corp organizations.

  • Has key responsibility for working with Nationwide leadership to lead the Tax Department through acquisition integration activities. Formulates plans and solutions for integrating new acquisitions into Nationwide Tax Department processes including financial statement reporting, federal and state income tax compliance, tax planning, and tax technology applications.

  • Subject Matter Expert for federal tax audits. Researches uncertain tax issues and provides statutory support for the most advantageous position for Nationwide; which is leveraged in negotiated settlements. Role includes consultation with other business unit leads to provide guidance from a tax perspective for federal filing and review of documentation used in the examination by the IRS. Areas of expertise include property/casualty insurance, life insurance, investments and C Corporation.

  • Has key responsibility during the Finance Close Process. This includes assurance of accurate reporting of statutory and GAAP tax provisions for the Nationwide legal entities; communicating and partnering with multiple levels of leadership (including financial auditors) to resolve property/casualty tax and life insurance issues, investment issues and tax reporting issues; providing guidance for tax accounting policy issues; and driving results through tight close deadlines.

  • Directs the accurate and timely preparation and review of the federal tax returns for Nationwide legal entities including property/casualty insurance, life insurance, special purpose investment entities, C Corporation and tax-exempt organizations. Manages the settlement of federal and state/local tax liabilities for the group.

  • Directs associate management and contractors, if applicable, including: performance management, training and development, workflow planning, decisions on hiring and placement and disciplinary actions.

  • Directs the operation of complex tax processes for the production of accounting data and operating results and continuously monitors those processes for accounting and tax law changes. The complexity of the tax structure requires an active involvement with any system which incorporates tax calculations or generates data for tax calculations.

Education

Undergraduate degree with studies in tax, law or accounting. Progress towards Master in Taxation.

Designations

CPA or JD

Experience

Minimum of eight years in insurance tax field for a life or multi-line insurance company, public accounting firm or law firm. Six years tax management experience.

Knowledge

Knowledge of federal and state/local tax law. Knowledge of statutory and/or GAAP accounting. Knowledge of

forecasting and tax systems. Knowledge of tax research techniques.

Skills / Competencies

Ability to communicate as exemplified in position papers. Good verbal communication skills that allow a technical area

to be understood by business unit executives. Ability to develop teams. Ability to negotiate with federal and state/local

auditors as well as with business partners. Ability to evaluate tax laws and their impact on business operations.

Hiring process for this role will include a Leadership Assessment.

Job SummaryDirects the tax planning or preparation for all assigned enterprise companies in order to arrange business transactions in a manner that will minimize tax liabilities at the federal and/or state and local levels to achieve the corporate objective for the transaction. Directs the filing of the applicable return(s) and coordinates, controls and settles the federal and state/local tax audits for assigned companies. Minimizes the enterprise tax liability through a thorough knowledge and application of the consolidated tax return rules and regulations, including related acquisitions, divestitures, and general corporate activity in consideration of current tax case law, regulations, and pending tax legislation. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.RelationshipReports to Tax Executive. No direct reports to this position.Core Duties and Responsibilities1. Directs the implementation of tax modules in programs designed by Systems for the production of accounting data and operating results. The complexity of the tax structure requires an active involvement with any system which incorporates tax calculations or generates data for tax calculations.2. Accountable for the preparation and review of the federal and state/local tax return for all assigned enterprise companies. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.3. SME for all federal and state/local tax audits. Provides research for use in negotiated settlements for the most advantageous position for Nationwide. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.4. Reviews analysis and reports. Coordinates legislative workload with existing compliance and planning. Develops personnel in the area of legislative activity. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.5. Advises the various accounting departments in the enterprise of the proper tax reporting policies of financial data and advises on record maintenance for tax purposes.6. Consults with other departments to provide guidance from a tax perspective for federal and state/local tax filing and review of documentation for examination by the IRS and other authorities.7. Provides input on work assignments for the development of the tax provision for statutory and GAAP reports. Resolves tax issues with accounting and/or financial auditors. Reports on Sarbanes Oxley controls. Authorizes tax payments and intercompany settlements. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.8. Analyzes the impact of federal taxes on the current direction of the assigned enterprise companies. This includes analysis and evaluation of the current and proposed tax law on the tax status of the companies as calculated from the current financial statements. This information is used as a base for the evaluation of the tax posture in the one-year operational and five-year strategic plans for operations and investments.. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.9. Works with senior management in evaluating current and proposed business transactions by incorporating the tax impact in the analysis. This requires a review of all acquisitions, divestitures, inter-company transactions, and reinsurance agreements. Tax areas include life and property/casualty insurance, C Corporation and tax-exempt organizations.10. Performs other related duties as assigned.EducationUndergraduate degree with studies in tax, law or accounting. Progress towards Master in Taxation.DesignationsCPA or JDExperienceMinimum of eight years in insurance tax field for a life or multi-line insurance company, public accounting firm or law firm. Six years tax management experience.KnowledgeKnowledge of federal and state/local tax law. Knowledge of statutory and/or GAAP accounting. Knowledge of modeling and tax systems. Knowledge of research techniques.Skills / CompetenciesAbility to communicate as exemplified in position papers. Good verbal communication skills that allow a technical area to be understood by business unit executives. Ability to develop teams. Ability to negotiate with federal and state/local auditors as well as with business partners. Ability to evaluate tax laws and their impact on business operations.FLSANot Eligible (Exempt).Working ConditionsNormal office environment. Extended periods of non-standard and additional hours.ADAThe above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.Credit CheckDue to the fiduciary accountabilities within this job, a valid credit check and/or background check will be required as part of the selection process.Reviewed: Sept. 2011 - MMB