global assignment management system - instant...
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“My team and I have been privileged to serve Goldcorp’s mobility needs for a number of years. With the addition of Global Assignment Management System services a year ago, Malcolm and his team joined our broader Goldcorp engagement team.”
Hein WincklerGlobal Engagement Partner for Mobility
3Goldcorp Annual Report 2017 |
Goldcorp is EY’s largest and most important mobility client in Vancouver
5Goldcorp Annual Report 2017 |
Implemented 12 months
of successful monthly compensation
accumulation and review
Successful joint execution of year-end payroll and
compliance requirements
Created Business Intelligence reporting/analytics customized
for Goldcorp
Implemented a regular monthly process of
data collection and evaluation to
prevent year-end rush for assignee data
Refined a streamlined,
cost-effective three-phase shadow
payroll process
Developed improved method
of annualizing data to support shadow payroll
calculations
August 2015 EY engaged for Global Assignment Management System (GAMS) services
September 2015 Implementation meeting with Goldcorp in Vancouver
September – December 2015 Implementation and process documentation
January 2016 Go live for GAMS services
Majormilestones
March 2016 Implementation recap meeting with Goldcorp in Vancouver; discussions of lessons learned from first two months of ongoing service
Implementation of initial version of Business Intelligence reporting
May 2016 Shadow payroll data support moved to EY GAMS team
August 2016 Implementation of updated version of Business Intelligence reporting
October 2016 – February 2017 Formalized year-end processes
September 2016 Year-end planning meeting with Goldcorp in Vancouver
Naomi Scavington co-presents mobility roundtable with EY team
January 2017 Completion of first full year of service to Goldcorp
February 2017 Name changed from managed payroll to GAMS
7Goldcorp Annual Report 2017 |
9Goldcorp Annual Report 2017 |
Redu
ced • Errors and inconsistencies within the process
• Cost and time to produce T4s and W2s • Overpayment of foreign taxes • Need for amended tax returns (with attendant time and cost) due to amended T4s or W2-Cs
• Risk of audits • Internal time needed to manage compensation collection and problems due to foreign team member turnover
• Out-of-scope work required on tax compliance engagement to clean up compensation data
• Multiple owners of compensation management process
• Duplicate or unauthorized payments • Duplicate reporting between home and host, where not required
• Potential reduction in interest and penalties Impr
oved • Global compliance
• Ability to stay current with rules and regulations in all tax jurisdictions globally
• Ability to maintain consistency of tax positions between payroll and tax returns, as EY’s technology has customizable global tax positions built in
• Employee satisfaction (both for assignees and mobility program team members)
• Integration with tax return process, leading to a simpler experience for Goldcorp
• Smoother and more accurate shadow payroll process • Global acceptance and understanding of the need for the process (via training and education
11Goldcorp Annual Report 2017 |
47%of assignees are
housed in one of five locations in Mexico
143total assignees representing 16
different countries
El Morro
1
1
5
45
8
El Sauzal
Reno
Vancouver
Penasquito
Los Filos35
2
13
Marlin
Toronto
Mexico City
Location of assignees by mine site/office
30
1
Cerro Negro
Santiago
1
1 Chile
13Goldcorp Annual Report 2017 |
Host housing per locationBase salary per location
Average cost per assignee Expenditure in CAD
Severance pay per location
PenasquitoCerro Negro
MarlinMexico City
Los FilosChile
El SauzalToronto
Vancouver
29%26% 22% 13% 5%2%1%1%1%
MarlinCerro NegroPenasquitoMexico City
TorontoVancouver
ChiliLos Filos
29%27% 18% 10% 6%5%3%2%
PenasquitoCerro Negro
Los FilosEl Sauzal
Mexico CityMarlin
48%27% 12% 7% 3%3%
$750k$100k
Mexico
Argentina
Guatemala
Mexico
Canada
$20m$1m
Base Salary
Host Tax Authority Payments
Bonus Performance
Severance Pay
Mobility Premium
15Goldcorp Annual Report 2017 |
Global taxability analysis in
100+ countries
� Easy, flexible process that is adaptable
to your specific needs
No mandated data collection formats – our technology works with your systems’ outputs
� Stronger review processes to confirm that your compensation data is correct
� Strongest technology available in this space
One end-to-end owner of the compensation collecting, analysis,
reporting, and shadow payroll process
EY | Assurance | Tax | Transactions | Advisory
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