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Form of workAt U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.
Job Description
SUMMARY
U.S. Bank is seeking a Trust Tax Department Manager/Liaison supporting its Wealth Management division.
RESPONSIBILITIES
Tax Competencies:
- Very strong working knowledge of charitable foundation returns (990-PF, 5227)
- Strong working knowledge of fiduciary income tax returns (1041)
- Good working knowledge of NRA tax returns (1042, 1042-S, W-8/entire series and general FATCA)
- Some working knowledge of individual income tax returns (1040, some knowledge of estates)
- Proper reporting related to 1099DIOB and MISC/NEC forms.
- Processing and reporting of federal and state tax payments, FIRE system, and EFTPS knowledge
- Working knowledge of various IRS notices (penalties, audits, abatements), and communication with other tax revenue authorities
- General knowledge related to taxation of trust assets (stocks, bonds, partnerships, farms, etc.)
- Ability to review returns for taxability and reporting of account types, transactions, sales, cost basis, etc.
Tax Preparation and Review:
- Preparation, review, and tracking of fiduciary, individual, trust-estates, charities, etc.
- In-depth and cursory reviews of several hundred returns as prepared by external CPA firms, with the majority through our outsourced relationship with our tax vendor.
- Provide tax support and liaise with our tax vendor in an outsourcing arrangement.
- Review trust instruments for domiciliary tax assignment and proper tax reporting.
- Complete analysis of trust instruments with generation skipping tax eligibility.
- Provide statistical analyses related to work performed to management.
- May prepare various tax returns (less than 100 trusts, individuals, foundations, 1099s, 1042/1042-S)
Client Service and Management:
- Ability to address tax-related questions and issues affecting clients, relationship managers, and vendors requiring immediate attention.
- This role requires a can-do attitude and excellent client service skills, both written and verbal, and ability to deliver results quickly and accurately to our clients.
- Solid, but versatile, leadership skills and may co-manage a small tax-technical liaison team and an indirect outsourced tax team through our vendor.
- Demonstrated ability in being approachable and flexible in working with stakeholders and colleagues at all experience levels.
Tax Operations:
- General knowledge of fiduciary tax operations, including trusts, charitable accounts, and estates
- Processing and maintenance of tax fees for various account types.
- Position can be challenging and demanding during peak times throughout the year where significant time-investment may be expected.
REQUIRED
- Bachelor's degree in accounting or equivalent work experience.
- 10 or more years of experience in accounting, tax accounting and planning.
- Three or more year of management experience.
PREFERRED
- Bachelor of Science degree in Accounting or Finance (master's degree preferably).
- CPA or Enrolled Agent (EA) certification.
- 10+ years of related fiduciary and individual tax preparation experience preferably within a financial services environment.
- System knowledge: SEI Trust3000, OneSource Trust Tax (formerly TrustEase or Fast-Tax).
- System knowledge: MS Access, SQL and general database queries.
- Strong system knowledge: Excel and PowerPoint.
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#WCIBO
If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):
- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Pregnancy disability and parental leave
- 401(k) and employer-funded retirement plan
- Paid vacation (from two to five weeks depending on salary grade and tenure)
- Up to 11 paid holiday opportunities
- Adoption assistance
- Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
EEO is the Law
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $108,375.00 - $127,500.00 - $140,250.00
Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
