Senior Institutional Investment Operations Specialist - Tax Operations

Wells Fargo•Charlotte, NC

1d•Hybrid

About The Position

Wells Fargo is seeking a Senior Institutional Investment Operations Specialist to join our Securities Tax Operations team as a part of our Corporate Investment Banking (CIB) Operations Division. This role will support cost basis, federal tax reporting, and withholding requirements for capital markets products. The position will help the team navigate an evolving regulatory environment and address the complexities of IRS Chapter 3, Chapter 4, and Chapter 61 reporting and withholding regimes, along with applicable state and international tax regulations.

Requirements

4+ years of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice To Haves

Extensive knowledge and understanding of loan, securities, and derivative products
Intermediate proficiency with Microsoft Office applications
Analytical skills with a high level of attention to detail and accuracy
Excellent verbal, written, and interpersonal communication skills
Effective organizational, multitasking, and prioritization skills
Ability to work effectively in a fast-paced, deadline-driven environment
Knowledge and understanding of technical tax withholding and reporting requirements, including Forms 1099-INT, 1099-MISC, 1099-B, and 1042-S, as well as IMY reporting to beneficial owners
Knowledge and understanding of equity and fixed-income trading
Project management skills, including the ability to manage multiple projects concurrently
Experience with or a basic understanding of IRS Forms W-9 and W-8, including exemption codes, country treaty rates, and IMY withholding statements
2 – 4 Years of Tax Operations experience with a basic understanding of Chapter 3 (NRA), Chapter 4 (FATCA), and Chapter 61 (TEFRA) withholding and reporting requirements
Working knowledge of one or more of the following tax solutions: Broadridge Tax Managed Service, Sovos, Silver Cost Basis, Silver, or IHS Markit IPS/CTI

Responsibilities

Handling tax documentation, withholding and reporting inquiries raised by business partners
Daily TEFRA, NRA and FATCA withholding reconciliation and remittance
Reconcile withholding and reporting files to ensure correct withholding is applied
Research and resolution of reporting and withholding exceptions through the manual payment files
1099 and 1042-S reporting tasks such as; QC of form reviews, Assist with trial runs and processing of tax reporting adjustments.
Identifying and formulating procedural changes which will enhance operational efficiency and data integrity
Providing leadership on issues raised by the areas we support while communicating ways to improve data quality and client service
Partnering with upstream processing teams such as corporate actions and middle office to identify the root cause of issues and mitigate operational risk