What are the responsibilities and job description for the Tax Operations Coordinator position at LogiX-Guru?
Job Details
Our financial services client in Carpinteria, CA is seeking a full time Tax Operations Coordinator to join their team.
Onsite 5 days per week (2 remote days per month allowed).
Must have experience working at a Broker Dealer Retirement Planning office.
#1 skill for this position is knowledge of IRS tax reporting regulations as it pertains to 1099 & 5498 reporting.
About the job
The Tax Operations Coordinator is responsible for production, delivery and compliance of client annual tax reporting to the IRS , This position is tasked with ensuring that the organization meets our IRS reporting requirements while minimizing organizational risks. The ideal candidate has a deep understanding of broker dealer transactions, IRS reporting requirements and tax rules, and knowledge of all aspects of 1099 and 5498 document creation. The individual should possess clear and concise communication skills; effective time management; ability to work across multiple departments; have project management experience and/or understand the concepts and process of managing a project and be resilient and adaptable to change while providing creative solutions to complex problems.
Business Continuity Plan This position is considered an essential role day 1, meaning employees in this role must be able to perform their responsibilities remotely as deemed applicable and necessary by your manager and the Company without a lapse of time should a business continuity situation arise e.g., COVID-19 Pandemic.
Salary Range:
We offer a generous compensation package that includes an attractive benefits package with medical, dental and vision, 401k company match, discretionary profit sharing, PTO, valet parking and more.
As a the Tax Operations Coordinator, you will be responsible for: managing relationships with existing vendors; identifying new requirements for tax reporting; updating policies and procedures to effectively address IRS rules and regulations; working with the internal technology department on updates; researching of back office transactions for discrepancies; managing a tax project team; working with operations departments to identify trends and solutions in reporting gaps; executing and coordinating quarterly reconciliation of vendors 1220 report; and verifying back office systems reflect accurate Cost Basis information.
Transactional Processing:
Review completed transactions to ensure they are in compliance with established IRS guidelines for tax information reporting.
Conduct timely and relevant escalation of issues to departments for reporting correction.
Provide training to departments based on correction analysis.
Update quarterly & annual online postings and client mailings.
Identify, propose and implement policy & process changes to ensure process efficiency and mitigate company risk.
Reporting, Documentation and Record Keeping:
Create, analyze and identify trends and report to senior team members.
Maintain, organize and document compliance with IRS & company policies and regulations.
Generate management reports for management review.
Client Service & Support:
Respond to internal and external customer tax inquiries and requests.
Ensure quality client service by addressing inquiries promptly and professionally, escalating complex issues to senior team members when necessary.
Department and Regulatory Compliance:
Ensure compliance with relevant IRS regulations, company and department policies.
Ensure SOPs are relevant and updated.
Assist in the compilation of documentation for audits and regulatory reviews as needed.
Process Improvement & Risk Management:
Propose & implement process improvements to enhance efficiency
Organize and execute team discussions to implement best practices.
Identify and report potential risks in departments financial transactions and operations.
Propose & implement process improvements.
Team Collaboration, Training and Leadership:
Identify team development opportunities and implement with senior team members.
Collaborate effectively with internal and external colleagues to achieve departmental and organizational goals.
Assist in the training and onboarding of tax team members.
Projects:
Initiate & complete tax projects and initiatives.
Available for overtime if needed.
Additional Job Duties
Department Specific Responsibilities
Manage & conduct review of transactions through SIMPLE Tax system.
Identify & implement regulatory changes as it pertains to 1099 & 5498 reporting requirements.
Complete form corrections on vendors websites and provide to client.
Create, resolve and track Research requests
Identify trends for improvements.
Update Standard Operating Procedures.
Conduct training for tax team members.
Produce Management reporting.
Conduct TIN/Name matching and mailings.
Complete B Notices.
Respond to IRS and State Tax Board notices.
Facilitate tax improvement projects & implementation.
Call representatives regarding escalated tax questions.
Initiate and complete multi-tiered ad-hoc, and periodic projects, postings & mailings.
Competencies Required:
Critical Competencies:
Ability to delegate to ensure company objectives are achieved and standards are met.
Clear and professional communication that conveys expectations and reasoning to ensure timely completion of the objective.
Identify, prioritize and execute necessary actions to achieve an objective or an idea within the provided deadlines.
Ability to use judgement on complex issues and document reasoning.
Knowledge of IRS tax reporting regulations as it pertains to 1099 & 5498 reporting.
Important Competencies:
Adhere to all pertinent rules, regulations, policies, best practices, and ensure behavior in the organization meets the company s standards of conduct.
Communicates information required by others in a concise, direct, and unambiguous way.
Empathetic communication that strives to ensure that the receiver clearly understands the specifics and function of the message.
Produce thorough, well-organized documentation that meets government, industry, or organizational standards.
Supporting Competencies:
Open and objective approach to conflict management with the intention of resolving issues in an unemotional and constructive manner.
Resilient under pressure and adversity while remain optimistic and persistent and maintain focus on objectives.
Flexible workstyle that can react to competing demands and shifting priorities.
Skilled in the use of multiple PC applications.
Knowledgeable in statistical measures and tools.
Qualification Standards
Education, Licenses, Work Experience, Etc.
Four or more years industry experience with information return tax reporting for a Broker/Dealer or other financial institution.
Bachelor's degree preferred but not required
Licenses and/or Certifications Required
Not Required
Additional License and/or Certification Information
FINRA Licenses Series 6 and 26 preferred or highly encouraged.
