Financial Data and Reporting Ops Representative
Pennington, New Jersey;Jacksonville, Florida
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Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for completion of standard operations processes related to consumer credit disputes, escalations and tax reporting. Key responsibilities include data entry, reporting data validation, case investigation, reconciliation requests, and client inquiry workflows. Job expectations include supporting standard transaction processing, reconciliation, and resolution of research requests to clients, consumer reporting agencies and taxing authorities, while following established written procedures under moderate supervision.
Consumer Wealth Tax Operations (CWTO) is responsible for multiple tax related functions to support Internal Revenue Service (IRS) and State regulatory required tax reporting and withholding payments, primarily on behalf of GWIM Investment and Retirement accounts.
The Tax Operations Payment Associate is responsible for the daily reconciliation and tax withholding payment remittance to the IRS and States for Retirement, Retail and Non-Resident accounts. The Associate will ensure the accurate and timely payment of tax withholding to the IRS on behalf of multiple legal entities as well as support withholding inquiries, reversals and manual withholding adjustments to be in compliance with regulatory requirements.
This position will require overtime during tax season.
Principle Accountabilities:
§ Reconcile withholding ledgers through various system checks and balances to establish daily, weekly, quarterly and/or annual liability positions
§ Preparation and review of tax payment packets, gathering all necessary documentation to evidence accuracy and completeness
§ Adherence to specific regulated payment schedules and time deadlines to ensure compliance with federal and/or state regulations.
§ Reviewing, researching and responding to branch inquires in relation to withholding adhering to strict service level standards.
§ Other related processes for tax payment remittance
§ Metrics reporting and Quality Assurance Peer Reviews
§ Support year end initiatives and any tax withholding remediation initiatives
§ Tasks might be assigned as needed contingent to the team's work load.
Responsibilities:
Performs standard activities supporting credit disputes, escalations and tax reporting while following established written procedures and guidelines and ensuring accurate and timely delivery
Performs basic research, follow-up, and resolution of routine financial data research requests
Reviews relevant documents and forms to identify and resolve issues
Validates financial data and reports against system of record
Identifies potential issues in daily operational tasks and escalates risk concerns, as appropriate
Provides quality service and support to internal partners and external clients
Skills:
Active Listening
Customer and Client Focus
Research
Attention to Detail
Critical Thinking
Decision Making
Account Management
Continuous Improvement
Problem Solving
Risk Management
Required Skills:
§ Strong problem solving and decision making skills
§ Detail oriented with strong organization skills
§ Must possess strong oral and written communication skills
§ Ability to manage multiple priorities to meet daily deliverables
§ Proven effectiveness in a fast paced and demanding environment with the ability to work under pressure
§ Proficient in MS Office (Outlook, Excel, Word)
§ Strong interpersonal skills and ability to collaborate within and across teams
§ Demonstrates initiative and a commitment to continuous learning
Desired Skills:
§ Financial Services and/or tax related experience
§ Money Movement & Reconciliation experience
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) .
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
