ITO Tax Operations Cost Basis & Corporate Actions Analyst

eTeam; Jersey City (NJ); On-site; USD 60,000 - 90,000; Full time

Job summary

A financial services firm is seeking an ITO Tax Operations Cost Basis & Corporate Actions Analyst in Jersey City. This role involves compliance with IRS regulations, managing tax documentation, and performing reconciling tasks related to client transactions. Candidates should possess strong proficiency in Microsoft Office and have a background in tax information reporting. The position requires sharp attention to detail and effective communication skills.

Qualifications

• 5 years of tax information reporting experience in financial services.
• Strong knowledge of Internal Revenue Code Chapter 61.
• Experience validating client tax documents using MD3.
• Proven ability to collaborate with cross-functional teams.

Responsibilities

• Validate taxability of Corporate actions using CCH.
• Manage monthly 1099B reconciliation for all reportable transactions.
• Update Cost basis engine for all voluntary Corporate actions.
• Support year-end cost basis reconciliation and data system updates.
• Assist with transfer statements and reclassifications across books and records.

Skills

Microsoft Office Access

Excel

Verbal communication skills

Written communication skills

Attention to detail

Tools

Broadridge systems

CBRS

Job description

ITO Tax Operations Cost Basis & Corporate Actions Analyst

Job Title: ITO Tax Operations Cost Basis & Corporate Actions Analyst

Job Duration: 13 months contract

Location: Jersey City NJ 07310

Pay Range: Depending upon the experience

Job Description:

The ITO Tax Operations Group is responsible for establishing operational procedures and controls to comply with IRS regulations regarding US information reporting (i.e. 1099 and 1042S reporting). Tax Operations is responsible for maintaining tax documentation (i.e. W-8's and W-9's), withholding and remitting taxes to the IRS, and generating 1099 and 1042s reporting to clients and the IRS.

The group collaborates with US Corporate Tax to assess the impact of new tax legislation and requirements, and engages with cross-functional resources to develop plans to respond and/or comply with new regulations. Tax Operations supports cost basis, transfer reporting and corporate action events by managing client data in the GENEVA portfolio accounting system.

Business Overview:

The ITO Tax Operations Group collaborates with US Corporate Tax to assess the impact of new tax legislation and requirements.

Candidate Success Factors:

• Results and Impact: Able to influence peers and team, demonstrates good judgement when making decisions of high complexity and impact.
• Leadership and Collaboration: Creates trust with colleagues, acts in leadership capacity for projects, processes, or programs.
• Client, Customer and Stakeholder Focus: Able to build relationships with a mix of colleagues and clients, interacts regularly with management and department leaders.
• Compliance Culture and Conduct: Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.

Responsibilities:

• Validate taxability of Corporate actions using CCH, identifying impacts to Cost basis.
• Update Cost basis engine for all voluntary Corporate actions based on taxability.
• Manage monthly 1099B reconciliation for all reportable transactions.
• Manage daily Front Office inquiries regarding cost basis, taxability and reporting.
• Provide support for remediation of cash reconciliation breaks in portfolio account system to support daily client reporting inquiries.
• Help validate/update cost basis on incoming transfer statements via CBRS or paper statements.
• Assist with generation of transfer statements for all deliveries to external brokers via CBRS or paper.
• Assist with generation of request statements for all incoming positions.
• Support year-end cost basis reconciliation.
• Adjust portfolio accounting system to reflect reclassification of income.
• Assist with review of all transfer bookings between books and records vs Cost basis engine.
• Cross-train and provide support to other divisions of the ITO Tax Operations department.

Minimum Required Qualifications:

• Proficient computer skills, particularly in the use of Microsoft Office Access, Excel and/or other business related software programs.
• Quick learner, taking detailed notes as references.
• Driven by client needs and satisfaction.
• Proactive, motivated and willing to comprehend new concepts.
• Strong verbal and written communication skills.
• Highly attentive to detail.

Preferred Qualifications:

• 5 years of tax information reporting, withholding, and tax documentation management experience in the financial services industry.
• Strong knowledge and comprehension of Internal Revenue Code Chapter 61.
• Knowledge of Broadridge systems/products such as BPS, TMS (Tax Managed Services) and TDS (Tax Data Solutions), or similar settlement and reporting systems.
• Experience validating client tax docs (Forms W-8 series, Forms W-9) using MD3, and updating back office static data and referential data systems.
• Proven track record of contributing to team oriented tasks and strategies, with the ability to identify client driven enhancements.
• Advanced Microsoft Excel experience and skills.
• Ability to perform multiple tasks and meet established deadlines in a fast pace work environment with minimal supervision.
• Solutions oriented thinker who is able to generate creative ideas.
• Effective analytical, organizational, and problem resolution skills.