Financial Data and Reporting Ops Analyst
About The Position
At Bank of America, this role supports Consumer Wealth Tax Operations, a department within DROM that performs tax-related functions for IRS and state regulatory reporting and withholding payments on behalf of consumer and wealth clients across Merrill, Private Bank, Retirement & Personal Wealth Solutions, and Investment Solutions Group. The Tax Operations Payment, Filings & Solicitation Team reconciles and remits daily tax-withholding payments to the IRS and states for Retirement, Retail, and Non-Resident accounts, ensuring timely and accurate payments for multiple legal entities. The Associate handles withholding payments and inquiries, processes tax-withholding reversals and manual adjustments, and supports tax remediations and other team initiatives. The position involves moderately complex operations processes related to credit disputes, escalations, tax reporting, research, reconciliation, reporting, data validation, and issue resolution. It requires adherence to regulated schedules, deadlines, and service-level standards, as well as consultation with management for support. Overtime is required during tax season.
Requirements
- Strong problem-solving, analytical, and decision-making skills.
- Detail-oriented with strong organizational skills.
- Strong oral and written communication skills, including the ability to interact with management.
- Ability to manage multiple priorities and meet daily deliverables.
- Effectiveness in a fast-paced, demanding environment and ability to work under pressure.
- Proficiency in Microsoft Office, including Outlook, Excel, and Word.
- Strong interpersonal skills and ability to collaborate within and across teams.
- Demonstrates initiative and commitment to continuous learning.
Nice To Haves
- Tax-withholding or related financial experience.
- Understanding of IRS rules and regulations.
Responsibilities
- Perform moderately complex activities supporting credit disputes, escalations, and tax reporting while following established procedures and guidelines and ensuring accurate, timely delivery.
- Research and resolve moderately complex financial data requests or exceptions based on analysis of assembled data.
- Perform routine analytics, report creation, and exception processing.
- Identify risks and process-improvement opportunities, and escalate risk concerns as appropriate.
- Provide quality service and support to internal business partners and external clients.
- Prepare and review payment packets, gathering documentation to demonstrate accuracy and completeness.
- Meet regulated payment schedules and deadlines to comply with federal and state regulations.
- Review, research, and respond to branch inquiries about withholding through email or the Service Request Portal (SRP), meeting service-level standards.
- Review and research tax-withholding reports and monthly reconciliations.
- Process manual tax-withholding adjustments.
- Reconcile withholding ledgers using system checks and balances to establish daily, weekly, quarterly, and annual liability positions.
- Support year-end initiatives and tax-withholding remediation initiatives.
- Support legal-entity summary filings with the IRS, tax-form solicitations, and responses to IRS correspondence regarding refunds and penalties.
- Prepare metrics reporting and conduct Quality Assurance peer reviews.
- Collaborate with management and teams within and outside Tax Operations on process enhancements.
- Handle additional tasks as needed based on team workload.
Benefits
- Benefits eligibility.
- Access to paid time off.
- Resources and support for employees.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
