Job Abstract

YOUR IMPACT

Goldman Sachs Trust Company (GSTC) has an opening for a Fiduciary Income Tax Manager who will work directly with our Chief Fiduciary Officer (CFO), Trust Officers (TOs), Investment Officers and Infrastructure Team to deliver a superior experience for our clients, while reducing risk by ensuring adherence to our responsibilities as a professional fiduciary.

OUR IMPACT

Wealth Management

Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking, and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for customers to better spend, borrow, invest, and save. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data, and design.

Private Wealth Management (PWM)

Goldman Sachs Private Wealth Management (PWM) specializes in creating comprehensive wealth management plans for high-net-worth individuals and families, as well as select institutions, including foundations and endowments. PWM Teams work one-on-one with clients to advise and deliver customized strategies drawn from our deep investment experience, diverse wealth management capabilities and global reach. Our Private Wealth Advisors (PWAs) deliver an unparalleled investment platform inclusive of the full product and service offerings of Goldman Sachs and beyond, which may include tax and estate planning, philanthropic planning and private banking and lending services. As client needs evolve, this close relationship allows the team to offer complementary services and new opportunities by leveraging the resources of Goldman Sachs and beyond.

Goldman Sachs Trust Company

An essential component of Goldman Sachs’ private wealth management offering, The Goldman Sachs Trust Company, N.A. (“GSTC”) is a limited-purpose national bank providing world-class trust, estate, and charitable administration services to ultra-high-net-worth clients across the United States.

GSTC leverages the global resources of Goldman Sachs to deliver integrated fiduciary management and administration, as well as comprehensive best-in-class investment management. Our team of dedicated fiduciary professionals collaborate closely with Goldman Sachs’ Private Wealth Advisors (“PWAs”) to provide our clients with superior service, while observing our responsibilities as an independent, professional fiduciary.

HOW YOU WILL FULFILL YOUR POTENTIAL

• Lead, facilitate, and manage the preparation and review GSTC fiduciary returns and reporting, and the accurate, timely filing of all tax forms.
• Serve as the primary relationship manager, liaison, and point of contact to GSTC’s national, outsourced third-party tax preparer.
  • Plan for and develop overall return and reporting calendar and coordinate timing and inputs with third-party tax preparer and TOs.
  • Establish systems and protocols to capture and transmit necessary information for proper tax preparation of returns and GSTC tax reporting.
  • Coordinate the filing of all returns and the payment of tax to relevant authorities (state, federal, foreign)
  • Escalate issues to third-party tax preparer to respond to urgent client questions, inquiries from tax authorities, and address questions/issues with draft returns before completion.
  • Find and implement opportunities for process improvement in GSTC tax procedures.
  • Develop and implement strategic tax planning for all necessary federal and state taxes, generation-skipping transfer taxes, foreign asset and transaction reporting obligations, etc.
  • Assess Key Performance Indicators (KPIs) for third-party tax preparer and completion of engagement goals.
  • Translate third-party tax preparer data enhancement requests to internal engineering and technology teams.
• Serve as the primary resource to the CFO for assessing tax risk and determining appropriate tax positions on a company-wide and individual account basis.
  • Review and advise CFO and TOs on specific tax return questions.
  • Advise TOs on tax questions related to distributions, administrative actions (changing situs, splitting/severing trusts, etc.) and estate planning.
  • Assess and advise on tax issues and risks with respect to business development and new account intake.
  • Educate TOs on pertinent federal and state tax law changes.
• Provide direct oversight of select complex tax returns (fiduciary income, foreign filings, gift/estate) prepared by national third-party tax preparer.
• Oversee framework for issue-spotting on tax returns.
  • Lead fiduciary tax training initiatives with TOs.
  • Escalate and track errors requiring correction.
• Maintain effective control procedures over all aspects of the tax process.
• Oversee and facilitate IRS income tax and state tax audits: preparing responses, creating schedules, etc.
• Monitor legislative and regulatory tax law developments, communicate the effects of these developments to management and the TOs and create strategies to capitalize on changes to taxation legislation.
• Communicate advisory decisions (ie. in a market up/downturn, set the tone for how third-party tax preparer should approach YOY swings in gains/losses).
• Established and maintain procedures for tax record keeping and payment records for each tax year.
• Establish and maintain tax return and reporting archival system.

EXPERIENCE & SKILLS WE’RE LOOKING FOR

• Bachelor's degree or higher required (Preferred degree in Accounting)
• Proven Fiduciary tax expertise through 15+ years of direct fiduciary tax experience
• Licensed Certified Public Accountant
• Expertise in federal and state fiduciary tax reporting requirements and transfer taxes (Generation-Skipping Transfer tax, Gift tax, and Estate tax)
• Strong familiarity with taxation and information reporting for foreign trusts and their US owners and US beneficiaries, Qualified Small Business Stock elections, and partnership taxation
• CTFA designation a plus
• Understanding of financial markets and prudent investor standards
• Strong team orientation
• Ability to work in a fast-paced environment and think clearly under pressure
• Self-motivated and able to work in an autonomous, yet collaborative environment
• Strong verbal and written communication skills, as well as strong organizational and interpersonal skills
• Commitment to excellence and a high level of integrity

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

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