In addition, this role is responsible for ensuring compliance with all IRS and industry regulations related to the recording, retention, update, and transfer of cost basis information and participating in audits related to new development and technology releases.
The work schedule is 6am- 3pm CST.
What does this role entail?
COST BASIS ACCOUNTING
- Reviews, analyzes, maintains and updates cost basis tax lots for changes due to transactional adjustments, corporate action activity, and related systems and processes.
- Reviews and maintains quality data in cost basis system to facilitate complete and accurate information reporting.
- Assists in regression testing to ensure changes to cost basis system do not negatively affect other areas of costs basis or system in general.
- Works with Account Managers to research and resolve escalated client issues and inquires; occasionally involves calls and/or in person meetings with advisors.
- Maintains test scenarios to cover all areas of cost basis system.
- Implements processes and key controls governing day-to-day activities of cost basis function to minimize operational risk.
- Audits cost basis functions and performs audits of statements, tax forms, and system elevations to ensure information accuracy, elevating any inconsistencies to management for investigation and resolution in order to achieve flawless execution.
What do I need?
- Bachelor's degree in Business Administration, Accounting or related field required
- Minimum of 1 year of experience working in a similar or accounting-based role required
- Experience working in the Financial Services industry preferred
- Orion Industry Certification must be obtained within 90 days of employment
- General knowledge of back office processing; account transfers, new accounts, tax reporting, statements, corporate actions, customer services, etc.
- Knowledge and understanding of Cost Basis Reporting with regards to Wash Sale Rules, Accounting Methods (i.e. FIFO), Transfer of Assets, Corporate Actions, Short Sale, Corporate Services and Tax Reporting as well as broker reporting of customer cost basis information preferred
- Knowledge of rules and regulations associated with the current IRS cost basis and gain/loss calculations with regards to equities, mutual funds, and debt securities preferred
- General knowledge of the regulations governing Federal and State tax, retirement, and estate account matters preferred
Orion offers day one benefits, various time off options including PTO, PAWternity, paid parental leave and sabbatical time, tuition reimbursement, continued flexibility to work from home and more!
As One-Orion, we provide ourselves in sustaining a working environment that is inclusive and considers the full range of human diversity. Our team’s growth-focused mindset, fearless innovation, and entrepreneurial spirit depends heavily on the collaboration of team members with varied perspectives and experiences.
Orion Advisor Solutions LLC