Tax Operations Analyst

3 weeks ago


Woodbridge, United States Bessemer Trust Full time

Job Summary:

Bessemer Trust is recruiting a Tax Operations Analyst to join the Data and Tax Operations department as part of the Regulatory Reporting team. The preferred candidate will have experience in financial services operations with a risk and compliance mindset.

Primary Responsibilities:

* Support the workload and collaborate with the Data and Tax Operations teams in a fast-paced environment as required to meet regulatory deadlines and obtain knowledge of various systems and applications.
* Work individually and within a group to deliver timely and accurate regulatory reporting to clients, IRS, and State Tax Authorities.
* Collaborate with cross-functional teams, including client advisory, client and fiduciary tax, and operations, to ensure accurate account setup for Information Reporting and tax withholding purposes.
* Analyze activity, calculate, apply, and reconcile IRA State Backup withholding and Federal Backup withholding for eligible transactions.
* Support tax withholding remittance and filings to the US State Tax authorities and IRS by preparing and filing IRA State Filings and IRS Forms 945, 1042.
* Validate Forms W-9 for new accounts during account opening process and annual W-9 due diligence for existing accounts.
* Support annual processes for Form 1099 Information Reporting and daily functions related to tax withholding, tax documentation tracking and transaction maintenance.
* Perform independent and scheduled reviews of the announcements, requirements and updates impacting withholding remittance and filing processes with the State Tax Authorities and IRS.
* Initiate and lead projects that improve data, processes, or user experience to increase efficiency and accuracy, which includes collecting requirements, sequencing activities, and creating documentation.
* Maintain processes, procedures and controls dedicated to ongoing process improvements, risk reduction, and regulatory compliance.
* Participate in relevant SIFMA groups and committees, or other industry working groups, for continuing education and your own professional growth.
* Overtime is required during tax season and during state filing periods to meet deadlines provided by State Tax Authorities for periodic and annual filings.

Qualifications:

* Bachelor's degree; 1-3 years of financial services experience.
* Advanced proficiency in MS Excel, PowerPoint, Word.
* Solid work ethic and innovative thinking + Strong analytical and problem-solving skills.
* Excellent verbal and written communication skills - dealing with various business, operational units, and stakeholders.
* Project management skills and practical experience with macros and MS Access is a plus.
* Prior experience with the IRS Information Reporting, IRA State Tax is a plus.
* FIS Global Plus, WSC



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