AddressJob 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
About Bessemer Trust
Bessemer Trust is a leading multifamily office, overseeing more than $200 billion in assets for 3,000 individuals and families of substantial wealth. Its 1,200 employees are singularly focused on private wealth management — disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service.
Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel.
Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemer's adherence to putting clients' interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does.
Key Facts
- For 117 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family.
- Headquartered in New York’s Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm’s largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C.
- To watch a video about Bessemer Trust’s history, click here.
- To learn more about Bessemer Trust, click here.
About Our Employee Rewards and Benefits
We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including:
- Competitive base salary plus discretionary annual bonus for select positions
- A 401(k) plan with a generous annual profit-sharing contribution
- Personalized development and career opportunities, including tuition reimbursement support
- Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
- Employee assistance (EAP) and wellness programs
- Hybrid work environment: 60% in office, 40% remote for most positions
- Paid time off and paid parental leave
- Employer-paid life insurance and short- and long-term disability coverage
- Legal services and financial wellness plans at no cost to employees
Bessemer Trust is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. We encourage candidates of diverse backgrounds to apply.
