Transaction Management Ops Analyst

Bank of America; Pennington (NJ); On-site; USD 65,000 - 90,000; Full time

Job summary

Bank of America in Pennington, NJ is seeking a Cost Basis Operations Analyst to support accurate reporting of cost basis and tax lots for IRS and clients. This role requires strong analytical skills, attention to detail, and the ability to work on complex tax scenarios within a collaborative team.

You will handle service requests, resolve tax reporting issues, and contribute to projects during tax season. The position emphasizes compliance with IRS rules, client service, and cross-team

Qualifications

• Proficient with Microsoft Office, Outlook, Word and Excel.
• Strong understanding of rules and regulations, policies and standards.
• Excellent excel skills including the ability to run v-lookups, pivot tables, run macros etc
• Excellent customer service, interpersonal, oral, and written communication skills
• Proven ability to effectively service/resolve client inquiries
• Strong analytical and problem-solving skills
• Ability to work effectively and efficiently as an individual contributor in a team environment
• Positive and professional attitude in a team oriented fast paced work environment
• College Degree preferred
• At least 1‑2 years experience in a Financial Analyst role or similar

Responsibilities

• Handles Service Request Portal/email requests related to Cost Basis updates for complex cost basis scenarios including EXSOP, Versus Purchase, ACAT Transfers, and Corporate Actions
• Research and resolve transactions via exceptions report processing
• Maintains current tax lots and for unrealized and realized gains/losses
• Liaison between internal units/departments and Branch Offices in the immediate
• Resolution of escalations and all issues related to Cost Basis and Tax Reporting
• Lead/Support project-based work including SII remediations and tax season processes
• Assist with cross‑training, new hire training, and mentoring
• Overtime may be offered to support business needs, especially during Tax Season (Jan – Apr)
• Be able to adhere to the industry and IRS rules and regulations

Skills

Attention to Detail

Customer and Client Focus

Oral Communications

Prioritization

Problem Solving

Account Management

Analytical Thinking

Coaching

Written Communications

Mentoring

Research

Result Orientation

Education

College Degree preferred

Job description

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

This job is responsible for moderately complex transaction and fulfillment processing, including the movement of assets into and out of accounts. Key responsibilities include reconciliation, settlement, and trade and transfer support, and providing quality service and operations support for internal business partners and external clients, in accordance with established guidelines and procedures. Job expectations include handling in operational processes which may carry medium to high levels of monetary risk and assisting in training less experienced team members.

Lob Description

Cost Basis Operations is responsible for accurate reporting of covered securities and tax lots to the Internal Revenue Service and clients. The Cost Basis Ops Analyst is a key member of our Cost Basis Operations organization. The team handles branch inquiries and update requests received from clients submitted via Service Request Portal/New Service Gateway and email in regard to updates and research of cost basis reflecting in our Global Tax Lots system. Additionally, the team will research and resolve transactional breaks that result in inaccurate cost basis that requires manual update. A successful candidate will have exceptional analytical skills, a strong attention to detail, the ability to problem solve to find solutions, self-management skills, be able to balance competing priorities and have experience working with financial statements and records. Cost Basis is responsible for accurate reporting of covered securities and tax lots to the Internal Revenue Service so the ability to update tax lot records accurately and efficiently is required.

Responsibilities

• Handles Service Request Portal/email requests related to Cost Basis updates for complex cost basis scenarios including EXSOP, Versus Purchase, ACAT Transfers, and Corporate Actions
• Research and resolve transactions via exceptions report processing
• Maintains current tax lots and for unrealized and realized gains/losses
• Liaison between internal units/departments and Branch Offices in the immediate
• Resolution of escalations and all issues related to Cost Basis and Tax Reporting
• Lead/Support project-based work including SII remediations and tax season processes
• Assist with cross‑training, new hire training, and mentoring
• Overtime may be offered to support business needs, especially during Tax Season (Jan – Apr)
• Be able to adhere to the industry and IRS rules and regulations

Required Qualifictaions

• Proficient with Microsoft Office, Outlook, Word and Excel
• Strong understanding of rules and regulations, policies and standards
• Excellent excel skills including the ability to run v-look‑ups, pivot tables, run macros etc
• Excellent customer service, interpersonal, oral, and written communication skills
• Proven ability to effectively service/resolve client inquiries
• Strong analytical and problem‑solving skills
• Ability to work effectively and efficiently as an individual contributor in a team environment
• Positive and professional attitude in a team oriented fast paced work environment
• College Degree preferred
• At least 1‑2 years experience in a Financial Analyst role or similar

Skills

• Attention to Detail
• Customer and Client Focus
• Oral Communications
• Prioritization
• Problem SolvingAccount Management
• Analytical Thinking
• Coaching
• Written Communications
• Mentoring
• Research
• Result Orientation

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy

Shift

1st shift (United States of America)

Hours Per Week

40