Information Reporting Specialist

INFORMATION REPORTING SPECIALIST WHAT IS THE OPPORTUNITY?

Provides support to external business units for the processes and procedures required for non U.S. clients. Ensures W8 processes are in compliance with IRS regulations and with the Bank policies and procedures. This position is responsible for providing analytical support for day-to-day systems and processing issues related to Forms W8, tax withholding, tax deposit and 1042S reporting. The incumbent utilizes internal bank systems to originate, design and prepare operating and administration reports for the department.

• Conducts data extraction activities and creates various Ad Hoc reports using tools like BRIO/City Data II, MS Excel, Info Share, etc. Also monitors and gathers statistical information and evolving error trends and provides information to various Business partners and management. Reports key trends and issues related to key data accuracy.
• Daily Tax Documentation validation of IRS Form W8 series. Provide support and liaison to colleagues regarding client tax documentation.
• Identify, analyze and recommend processes and automation strategies that will increase efficiency of data analysis and reporting, controls and compliance. Write departmental procedures.
• Evaluates accuracy of reports, creates ad hoc reports.
• Responsible for Annual W8 certification, reporting of Forms 1042S.
• Manage and support daily operational processes such as: W8 processing, NRA withholding, reconciliation of tax withholding.
• Responsible for annual recertification process and account remediation.
• Analyze and resolve problems.
• Works directly with colleagues at all levels; may also interact with vendors or with clients.
• Research, coordinate and recommend process enhancements to the department’s operation, write procedures and complete projects as directed.
• Utilize a variety of internal bank systems to research and prepare operating and or administration reports
• Performs other duties of a similar nature or level within the department. Becomes actively involved in daily operation when required to meet deadlines or to resolve complex problems.
• Processing of various functions and forms to comply with IRS regulations including Forms W8 and W9, invoking and releasing IRS backup withholding on deposit accounts and monitoring IRS B and C notices, and TEFRA balancing and remittance.
• Assisting with the mailing and corrections of year-end 1098/1099, B-notices mailing. Federal Form Processing (Includes management of all unclaimed property inquiries, reporting and remittance processes to the respective States.
• Escheat process including researching, monitoring, reporting, and remittance of unclaimed property to their respective States. Activating dormant and escheat suspect accounts.

• Minimum 3 years of experience in Operations analysis, Tax Analysis or related roles
• Minimum 2 years of Microsoft Excel experience required (with knowledge of vlook-up, if errors, pivot tables, macros, etc.)
• Minimum 1 year experience working with analyzing and reporting data.

• Bachelor’s degree is highly preferred
• Must be able to work accurate and effectively in a fast-paced, ability to multi-task, deadline-oriented environment.
• Exercise good judgment and making decisions that impact client accounts and City National Bank operations
• Great quality of work, quantity of work, job knowledge, customer service, problem solving, ability to work independently and initiative to take on new assignments, compliance and dependability.
• Ability to read and interpret complex regulations and reduce them to procedures that are easily understandable by all colleagues.
• Must have excellent oral, written and interpersonal…