Information Reporting Specialist
City National Bank
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Benefits offered by this job
Job summary
City National Bank is seeking an Information Reporting Specialist to support non-U.S. clients by ensuring W8 compliance with IRS regulations and bank policies.
You will provide analytical support for day-to-day systems and reporting related to Forms W8, tax withholding, 1042S, and remittance across internal bank systems. Responsibilities include data extraction, daily W8 documentation validation, and development of automation strategies to enhance efficiency while maintaining controls and
Qualifications
- Minimum 3 years of experience in Operations analysis, Tax Analysis or related roles.
- Minimum 2 years of Microsoft Excel experience required (with knowledge of vlook-up, if errors, pivot tables, macros, etc.)
- Minimum 1 year experience working with analyzing and reporting data.
Responsibilities
- Conduct data extraction and create Ad Hoc reports using BRIO/City Data II, MS Excel, InfoShare.
- Daily Tax Documentation validation of IRS Form W8 series and liaise with colleagues on client tax documentation.
- Identify and recommend processes and automation strategies to increase efficiency and compliance; write procedures.
Skills
Education
Tools
Job description
Provides support to external business units for the processes and procedures required for non U.S. clients. Ensures W8 processes are in compliance with IRS regulations and with the Bank policies and procedures. This position is responsible for providing analytical support for day-to-day systems and processing issues related to Forms W8, tax withholding, tax deposit and 1042S reporting. The incumbent utilizes internal bank systems to originate, design and prepare operating and administration reports for the department.
Provides support to external business units for the processes and procedures required for non U.S. clients. Ensures W8 processes are in compliance with IRS regulations and with the Bank policies and procedures. This position is responsible for providing analytical support for day-to-day systems and processing issues related to Forms W8, tax withholding, tax deposit and 1042S reporting. The incumbent utilizes internal bank systems to originate, design and prepare operating and administration reports for the department.
- Conducts data extraction activities and creates various Ad Hoc reports using tools like BRIO/City Data II, MS Excel, InfoShare, etc. Also monitors and gathers statistical information and evolving error trends and provides information to various Business partners and management. Reports key trends and issues related to key data accuracy.
- Daily Tax Documentation validation of IRS Form W8 series. Provide support and liaison to colleagues regarding client tax documentation.
- Identify, analyze and recommend processes and automation strategies that will increase efficiency of data analysis and reporting, controls and compliance. Write departmental procedures.
- Evaluates accuracy of reports, creates ad hoc reports.
- Responsible for Annual W8 certification, reporting of Forms 1042S.
- Manage and support daily operational processes such as: W8 processing, NRA withholding, reconciliation of tax withholding.
- Responsible for annual recertification process and account remediation.
- Analyze and resolve problems.
- Works directly with colleagues at all levels; may also interact with vendors or with clients.
- Research, coordinate and recommend process enhancements to the department’s operation, write procedures and complete projects as directed.
- Utilize a variety of internal bank systems to research and prepare operating and or administration reports
- Performs other duties of a similar nature or level within the department. Becomes actively involved in daily operation when required to meet deadlines or to resolve complex problems.
- Processing of various functions and forms to comply with IRS regulations including Forms W8 and W9, invoking and releasing IRS backup withholding on deposit accounts and monitoring IRS B and C notices, and TEFRA balancing and remittance.
- Assisting with the mailing and corrections of year-end 1098/1099, B-notices mailing. Federal Form Processing (Includes management of all unclaimed property inquiries, reporting and remittance processes to the respective States.
- Escheat process including researching, monitoring, reporting, and remittance of unclaimed property to their respective States. Activating dormant and escheat suspect accounts.
- Minimum 3 years of experience in Operations analysis, Tax Analysis or related roles
- Minimum 2 years of Microsoft Excel experience required (with knowledge of vlook-up, if errors, pivot tables, macros, etc.)
- Minimum 1 year experience working with analyzing and reporting data.
- Bachelor’s degree is highly preferred
- Must be able to work accurate and effectively in a fast-paced, ability to multi-task, deadline-oriented environment.
- Exercise good judgment and making decisions that impact client accounts and City National Bank operations
- Great quality of work, quantity of work, job knowledge, customer service, problem solving, ability to work independently and initiative to take on new assignments, compliance and dependability.
- Ability to read and interpret complex regulations and reduce them to procedures that are easily understandable by all colleagues.
- Must have excellent oral, written and interpersonal communication skills and be able to interpret documents, write reports and correspondence and communicate clearly with customers and colleagues.
- Well-developed analytical and diagnostic skills that allow the colleague to apply knowledge to business lines or situations that are not familiar.
- Self-directed and able to work with minimal supervision while performing duties.
- Internet savvy
- Must be able to work accurate and effectively in a fast-paced, ability to multi-task, deadline-oriented environment.
- Exercise good judgment and making decisions that impact client accounts and City National Bank operations
- Great quality of work, quantity of work, job knowledge, customer service, problem solving, ability to work independently and initiative to take on new assignments, compliance and dependability.
Starting base salary: $28.58 - $45.66 per hour. Exact compensation may vary based on skills, experience, and location.
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our Benefits and Perks.
Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
- Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
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