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Tax & Retirement Operations Representative

Charles Schwab

At Schwab, “Own Your Tomorrow” embodies everything they do.

Your Opportunity

Tax and Retirement Operations serves as a differentiator in the brokerage industry by providing superior client service and accurate processing of information. This role requires high attention to detail, organizational skills and the ability to interpret and apply industry regulations and best practices to their various products. Associates will be responsible for the production of tax forms, proper withholding and remittance of funds to the state and federal government, timely escheatment of assets and compliance with FATCA, 990-T filings, Common Reporting Standards (CRS) and IRS regulations as they relate to the tracking and reporting of cost basis and retirement contributions/distributions.

Workplace Flexibility Program: We’re proud to support our employees in a working approach that allows you to bring your best self to work – whether that’s in the office or remote.

  • Most Schwabbies have the opportunity to voluntarily work in the office or at home based on their preference *
  • When the firm is ready to fully return to the office, employees will have the flexibility of a hybrid work environment, spending some time working remote and some time in the office.
  • Employees and managers can discuss and decide what works best for them, with additional flexibility available based on their role, business needs, and individual circumstances.

*Subject to change as Schwab is continually evaluating the current environment in order to best care for the safety and well-being of our employees.
What you are good at

  • Analyze client requests and apply applicable regulation and/or law to that request. May include but not limited to IRS, State and Federal Regulations, FINRA/SEC, and OCC
  • Analyze client transaction and account data to ensure risk mitigation for the client and TD Ameritrade.
  • Identify any red flags and/or high risk activity and report to the appropriate business partner
  • Review and interpret daily reporting for account and client reconciliation and proper resolution
  • Research, analyze & implement new/updated regulations put forth by the IRS, various state revenue agencies and international governing bodies as they relate to tax reporting & withholding
  • Review and interpret daily reporting regarding the transfer of cost basis in and out of TDA in order to capture system irregularities or defects that limit our ability to remain in compliance with IRS regulations
  • Consistently research & review department procedures to ensure updates are made in accordance with updated/new IRS regulations or system enhancements
  • Ensure prompt and accurate processing and recording of client transactional requests.
  • Ability to learn, retain and apply processes and procedures as well as system technologies in an efficient and effective manner
  • Ability to make efficient and risk based decisions on transactional requests
  • Utilize various vendor and reconciliation systems throughout the year to correct and review client transaction and cost basis data to ensure accurate tax form production at year end
  • Analyzing variances in processing to ensure consistent handling of exceptions
  • Ability to work with internal and external business partners in order to ensure proper tax withholding and remittance of funds to the state/ federal government, accurate cost basis reporting and timely escheatment of assets
  • Work across various internal and third party systems to research, review and resolve various client inquiries related to the tracking and reporting of cost basis
  • Communicate with clients, business partners and advisers on a daily basis regarding ongoing inquiries related to tax reporting and retirement account issues
  • Leverage Lean Principles to identify inefficiencies in existing processes
  • Actively participate in Problem Solving sessions to ensure proper resolution
  • Work with business partners to ensure upstream and downstream impacts
  • Ability to collaborate and build relationships with our business partners and peers
  • Liaise with business partners for resolution of client escalations and research cases regarding GainsKeeper and other cost basis inquiries
  • Ability to effectively communicate through various channels (Email, Phone, Instant Message, Presenting/Meetings)
  • Willingness to work with external firms or business partners in an effort to apply best practices as they relate to tax reporting (FATCA, abandoned property, 990-T processing, DTC/transfer of cost basis, etc.)
  • Ability to handle complex tax and retirement account related inquiries from clients, both internal and external, that require research of IRS publications and security specific reporting requirements (complex debt, 1256 options, original issue discount, etc.)
  • Review & process client requests for adjustments and updates to their cost basis for reporting purposes

What you have

  • Ability to analyze, interpret and implement complex IRS regulations and requirements as they relate to the brokerage industry and relay this information to the client as needed.
  • Communicate complex IRS rules and regulations with thoroughness and clarity to clients and various business partners.
  • Education Level Required: High School Diploma or Equivalent

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home-today and in the future. Explore further .

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at applicantaccessibility@schwab.com or call 800-275-1281 .

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.

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Tax & Retirement Operations Representative

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Charles Schwab

At Schwab, “Own Your Tomorrow” embodies everything they do.

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