As part of this role, the individual will be responsible to tracking, updating and maintaining accurate cost basis records on behalf of Wealth mgmt. clients. The daily processing expectations will include resolution of inquiry tickets and remediation of any discrepancies arising out of inaccurate or missing cost basis records. This is essential towards ensuring compliance to IRS regulations by facilitating accurate 1099 reporting during the Tax reporting season.
Responsibilities
- Tracking, updating and maintaining accurate cost basis records on behalf of Wealth mgmt. clients.
- Daily processing including resolution of inquiry tickets.
- Remediation of any discrepancies arising out of inaccurate or missing cost basis records.
- Ensuring compliance to IRS regulations by facilitating accurate 1099 reporting during the Tax reporting season.
Qualifications
- At least 4-6 years of experience in the financial services industry, preferably operations.
Required Skills
- Experience Required (Total and Relevant) 4-6 years.
- Location - Bangalore.
- Primary Skills (Mandatory top 3 skills)
- Excel skills.
- Process transaction.
- Cost Basis Operations — maintaining and correcting securities cost basis and tax-lot records.
- US Tax Reporting / 1099-B — knowledge of US securities tax reporting and cost basis regulations.
- Securities Operations — corporate actions, ACAT transfers, trade settlements and reconciliation.
- Knowledge of US tax, specifically 1099 reporting or US tax reporting and cost basis regulations (preferable), corporate action processing, settlements.
- A strong learning mindset with positive RCA skills and ability to deep-dive into the subject matter.
- Ability to work under high intensity and handle high volumes, multi-tasking and delivery / execution within tight SLA's.
- A proven track record of accuracy and efficiency with high volume and complex day to day processing