Tax Reporting and Cost Basis Associate
Company: Janney
Location: Philadelphia
Posted on: May 28, 2023
Job Description:
Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia,
Pennsylvania, United States of America Req #11405 Monday, May 22,
2023 The tax reporting and cost basis department is responsible for
maintaining accurate cost basis figures in client accounts and is
responsible for producing annual tax forms including IRS form 1099,
1042s, 5498, etc. The associate will provide support to financial
advisors and their clients, assist in the production of tax forms
as well as maintain cost basis and tax reporting information for
the purpose of monthly statements, annual tax forms and other tax
filings. This role involves data preparation, remitting backup
withholding taxes to the IRS as well as developing business
requirements on products and improving day to day processes all
while providing an exceptional client experience. What you are good
at:
- Organization and Time Management: Possessing the ability to
take on multiple requests at once and effectively complete tasks in
a time efficient manner.
- Initiative: Proactively identify opportunities to enhance
operational processes.
- Client Service: Meeting and exceeding customer expectations by
providing timely and attentive responses to client requests.
- Team-Oriented: Collaborating with team members and other
departments across the organization. Responsibilities:
- Conduct analysis on client accounts and transactional data to
ensure accuracy of cost basis and reportable tax information.
- Support Financial Advisors and Private Client Assistants to
help deliver a high level of client experience.
- Assist with special ad-hoc projects and initiatives.
- Maintain on-going data processes and cost basis updates.
- Produce Estate Valuations for clients' assets using pricing
software.
- Assist in researching and implementing system updates for
corporate actions such as Mergers, Spin-Off Distributions, Exchange
Offers, and Bankruptcies.
- Reconcile large amounts of data
- Audit Federal Tax Withholding for clients' retail accounts to
confirm accuracy.
- Validate tax information on annual tax forms being reported to
the IRS.
- Review issues from external business partners and determine
appropriate course of actions to find solutions.
- Reconcile tax form data, validate exceptions and work with
external vendors. Required Skills
- High degree of accuracy and attention to detail
- Highly motivated self-starter and creative problem solver
- Strong communication skills and a proven ability to develop
effective relationships with external and internal business
partners
- Proficient with all Microsoft Office applications and internal
database systems
- An effective team player that works well under pressure and
interacts appropriately with others Education/Experience
- Bachelor's degree preferred or equivalent experience in
Finance, Accounting or Economics with IT-related background a
plus
- 1+ year(s) experience working in the financial services
industry with an emphasis on retirement and retail tax reporting
preferred
- Series 7 (or ability to obtain within 12 months) preferred
- This role will be hybrid, the individual will work
approximately three days per week in the Philadelphia office. Why
work for us? Benefits: Janney believes that its employees are the
key to what makes a great company. Although work makes up a large
portion of an employee's life, we believe that a balance between
work and non-work activities is essential to maintain quality
performance and a positive work atmosphere. We offer a competitive
package including Paid Paternal Leave, generous Paid Time Off,
eligibility for a $2,000 referral bonus and Professional
Development Assistance Plan designed to help you make the most of
your life at work and at home-today and in the future. Explore
further. Janney is an award-winning full-service financial services
firm committed to understanding our clients' needs and providing
advice beyond investments.We are equally committed to building a
diverse workforce and inclusive culture where employees can use
their talents to thrive and grow professionally with the firm.
Fostering a positive workplace experience remains a top priority.
We've earned the Great Place to Work - certification, which
recognizes employers that create an outstanding employee
experience. Based entirely on what current employees say about
their experience working at Janney, this prestigious recognition
underscores our commitment to our people and culture. People are
our strongest asset. We recognize that when our team members
thrive, our firm is more successful.
- Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia,
Pennsylvania, United States of America
Keywords: Janney, Philadelphia , Tax Reporting and Cost Basis Associate, Accounting, Auditing , Philadelphia, Pennsylvania
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