Music Settlement Staff

Wasserman•Chicago, IL

1d•Hybrid

About The Position

Wasserman operates at the epicenter of sports, music and entertainment, serving talent, brands and properties on a global scale. Headquartered in Los Angeles, Wasserman's presence spans 28 countries and more than 70 cities, including New York, London, Abu Dhabi, Amsterdam, Hong Kong, Madrid, Mexico City, Toronto, Paris and Sydney. For more information, please visit www.teamwass.com . Music Settlement Staff is primarily responsible for settling the financial aspects of our clients' tours for the agency. The duties of the role include, but are not limited to, confirming the accuracy of all settlement details (compensation, withholding tax, deductions) and acting as the liaison between our agents, clients, and clients’ business managers to ensure all tours are settled in a timely manner. This role will be based in our Chicago, IL office (hybrid, in office 3 days a week)

Requirements

Experience with Excel and Outlook required
Bachelor’s in Music Business, Economics, Finance, Accounting, or Arts Administration
Excellent attention to detail and ability to prioritize and meet deadlines in a high-volume environment
Even-keeled disposition with high level of communication skills (oral, interpersonal, and written) to handle varied personalities and sensitive situations
Demonstrated ability to troubleshoot and to anticipate issues that may arise proactively and quickly determine next steps
Strong interest in learning about the music industry and growing a career in the music agency business

Nice To Haves

Previous music industry experience preferred

Responsibilities

Prep and process client tour statements from start to finish
Reconcile settlement details for each deal and confirm artist was fully compensated via funds paid to the agency, funds paid to the artist, or a combination thereof.
Verify and note applicable deductions and/or withholding tax that occurred at the source.
Assess and calculate Wasserman's liability to withhold non-resident withholding tax (1042).
Acquire all necessary agent and artist team approvals and actively resolve any issues or discrepancies until Wasserman and their clients’ records agree.
Verify and maintain client remittance information.
Prepare client statements for A/P processing and/or collect client funds due to Wasserman.
Maintain weekly A/R status notes of all assigned roster clients.
Process any applicable refunds due to cancellations / purchaser overpayments.
Provide financial analysis for artist advances requests and oversee the disbursement and repayment of the approved advances.
Assist with client onboarding and off-boarding.
Support Client Trust Team to with identifying and labeling funds as needed.
Maintain highest degree of artists’ financial confidentiality.
Participate in ad hoc Music Accounting Department projects and take on additional tasks and responsibilities as assigned.