Specialist, Tax and Cost Basis Operations

About the role

Tax and Cost Basis Operations is a part of the Custody Asset Services organization within Schwab Operational Services. We are dedicated to leading a culture that delivers timely and accurate tax reporting in our efforts to create a premier client experience, while providing a controlled and disciplined environment that allows our employees to feel valued and engaged.

Responsibilities

• Reviewing W-8BEN forms and applicable documentary evidence for completeness and accuracy
• Updating internal systems to reflect W-8BEN validation results
• Determining and applying appropriate tax withholding rates to client accounts based on W-8BEN review
• Sending written communications to notify clients of an incomplete or rejected W-8BEN
• Processing and reviewing departmental control reports
• Reviewing the work of others for completeness and accuracy
• Communicating with internal business partners to identify opportunities for improving client service
• Performing User Acceptance Testing for updates to system withholding and reporting logic and communicating issues clearly
• Analyzing and comparing data sets collected from various sources to identify patterns, trends, and potential issues
• Aiding with the onboarding and training of new team members
• Aiding with ad hoc projects as needed

Requirements

• 1-3 years work experience in reviewing W8 tax forms
• A high level understanding of department processes and procedures

Qualifications

• Expert knowledge and the ability to coach associates on department systems: Client Central, Workflow Systems (MyQ), ACS, Comply Exchange
• The ability to understand and apply complex rule sets while strictly adhering to policies and procedures
• The ability to collect and input data quickly and accurately
• The ability to analyze, and compare data sets from various internal sources to identify patterns or potential issues
• Outstanding time management, organization, and attention to detail
• Strong verbal and written communication skills
• A collaborative, team-oriented approach
• The ability to work under pressure in a fast-paced environment while maintaining the highest level of positivity and professionalism
• The ability to identify and communicate issues effectively and timely to peers and management
• Initiative to perform day-to-day tasks with limited guidance or direct supervision
• Proficient computer skills including Microsoft Excel and Word

Skills

• Expert knowledge and the ability to coach associates on department systems: Client Central, Workflow Systems (MyQ), ACS, Comply Exchange
• The ability to understand and apply complex rule sets while strictly adhering to policies and procedures
• The ability to collect and input data quickly and accurately
• The ability to analyze, and compare data sets from various internal sources to identify patterns or potential issues
• Outstanding time management, organization, and attention to detail
• Strong verbal and written communication skills
• A collaborative, team-oriented approach
• The ability to work under pressure in a fast-paced environment while maintaining the highest level of positivity and professionalism
• The ability to identify and communicate issues effectively and timely to peers and management
• Initiative to perform day-to-day tasks with limited guidance or direct supervision
• Proficient computer skills including Microsoft Excel and Word

Benefits

• 401(k) with company match and Employee stock purchase plan
• Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
• Paid parental leave and family building benefits
• Tuition reimbursement
• Health, dental, and vision insurance