The IRA/Tax Specialist provides first and second-level support to customers on basic and moderately complex issues. The candidate will possess knowledge to successfully troubleshoot as necessary the correction of customer issues. The Specialist works closely with the Tax Department and other stakeholders to ensure the accuracy, integrity, and timely tax reporting and IRA maintenance.
The ideal candidate will have a background in financial markets, have experience in stocks and options. Full understanding of futures, and foreign exchange spot markets.
Provide ongoing support to customers, including but not limited to:
- Reviewing and addressing client issues/inquiries via inbound calls, electronic message, mail, and on-line chat.
- Perform tax and IRA related account maintenance transactions, including IRA transfers, IRA distributions, cost basis updates, and dividend tax classifications.
- Maintain current knowledge of trends and developments impacting retirement accounts, and staying abreast of IRS regulations.
- Responsible for troubleshooting escalated customer reported issues. Assists with root cause analysis and resolution as appropriate.
- Escalation of system, partner and customer issues clearly and timely.
- Facilitate resolution of customers’ issues by logging and verifying bugs/enhancements, updating customer on problem resolution status, working with development, and assisting in testing fixes.
- Responsibility for providing regular communication to the stakeholders on the status of customer related issues and/or projects using issue management system.
- Provide information to other support representatives to assist with problem resolutions.
- Assist with the continuing development and documentation of internal processes/procedures and creation of content for the Knowledge Database.
- Knowledge of securities regulations impact on customers.
- Lead or participate in other projects or duties as assigned.
Areas of concentration include the following:
- W-9, IRS TIN verification, and back up withholding issues
- W-8 recertification for non-US taxpayers
- Year-end tax reports and forms, including the IRS 1256 Worksheet
- IRA contribution and distribution guidance, including required minimum distributions and death distributions
- IRA beneficiary options
- Dividend classifications and treaty rates
- Wash sale calculations
- FATCA Compliance