Tax Accounting Manager

The role of Tax Accounting Manager in the CIT tax department is critical to both the preparation of the CIT consolidated global income tax provision and the US Federal tax return.The critical areas of responsibility for this position are as follows:• The global income tax account rollforward is a key Sarbanes Oxley internal control. The information is utilized in quarterly and annual financial statements. In the past, the rollforward of the tax accounts have been cited as a material weakness and significant deficiency in the tax provision process. The continued monitoring and improvement of the process and associated controls is essential. The complexity involved and the importance of the task requires the involvement of an experienced tax professional.• CIT is in the process of implementing Taxstream Global Tax Provision Software. This web-based tax provision application is required to meet the financial reporting needs of CIT and enable the company to remain in compliance with SOX & FAS 109. An individual that possesses a strong tax provision, accounting and financial reporting system background is crucial for the proper implementation of this application. • The preparation of the US tax return involves detailed analysis of tax sensitive accounts. This role requires an in depth understanding of both tax accounting and tax rules to properly compute tax return adjustments for compensation, benefits, goodwill, purchase accounting and other necessary accruals. These material adjustments also continue to be the focus of the current IRS audit.• A strong tax accounting background and analytical skills are necessary to enable the individual to properly push record deferred taxes at appropriate legal entity, business unit and reporting segment. This ongoing process is essential to the proper measurement of individual business unit results.• The role is a highly visible position within CIT. The position requires communicating clear, achievable deliverables to corporate managers and executives outside of the tax department. 5+ years of tax experience Location Livingston, NJ Start Date: Thursday, May 08, 2008 About CIT A Leading Diversified Commercial & Consumer Finance Company CIT is a leading global finance company, driving economic growth and creating opportunities for businesses and people around the world. Building on a century of experience, we provide innovative financial solutions and services-bringing knowledge, expertise and creativity to every client relationship. Learn more: www.cit.com. CIT Quick Facts Commercial & Consumer Finance Company Founded - 1908 NYSE: CIT Russell 1000 index member Fortune 500 company A component of the S&P 500 Principal offices in: New York City & Livingston, New Jersey