Unclaimed Property and Tax Process Spec Sr

Unclaimed Property And Tax Process Specialist Sr

The Senior Reconciliations And Monitoring Specialist is responsible for accurate processing of 1099 corrections and the administration of Nonresident Alien (NRA) and Resident Alien (RA) accounts. This role ensures compliance with IRS regulations, supports regulatory reporting accuracy, and partners with internal teams to resolve tax-related issues. The position requires strong attention to detail, knowledge of U.S. tax reporting requirements, and the ability to manage sensitive financial data. Additionally, completes reconciliation and approval of unclaimed property general ledger and settlement accounts, manages dormant accounts for compliance with unclaimed property laws, and supports the retention and reactivation of client accounts. Additionally, the role involves handling IRS B Notice processes, managing state and federal withholding payments for IRA withdrawal while mentoring teammates, and overseeing peer work.

Key Responsibilities And Duties

• Communicates and corresponds with account owners regarding questions regarding unclaimed property laws and regulations, while ensuring compliance with said laws and regulations.
• Assists management in implementing process improvements and driving operational excellence.
• Identify unclaimed property (e.g., dormant accounts, outstanding checks, credit balances). Performs account research to determine owner eligibility and dormancy status. Conducts due diligence outreach to property owners as required by law.
• Prepares unclaimed property reports to state agencies accurately and on time. Processes state and federal withholding and backup withholding payments in compliance with IRS and state regulations.
• Provides solutions to client, branch, and banking inquiries, and escalates issues when necessary.
• Reviews, sets up, and maintains NRA and RA customer accounts in accordance with IRS and regulatory guidelines.
• Validates tax forms such as W 8 and W 9 to ensure proper classification and withholding. Applies appropriate withholding rates and exemptions based on residency status and tax treaties.
• Monitors account for changes that may impact tax reporting or withholding requirements. Researches, reviews, and processes 1099 corrections (e.g., name/TIN changes, amount adjustments, reclassifications).
• Mentors and trains associates, leveraging subject matter expertise to provide effective coaching and guidance. Assist management with overseeing the day-to-day operations, including workflow assignments, daily report review, and performing quality oversight of completed tasks.
• Acts as subject matter expert on related transformational and operational initiatives; responsible for user acceptance testing (UAT), audit responses, and transformational initiatives.

Educational Requirements

• Vocational and/or Technical Education Preferred

Minimum Qualifications

• 3+ years of experience in tax operations, unclaimed property processing, reconciliations, or financial services operations, with demonstrated knowledge of IRS reporting requirements (e.g., 1099, NRA/RA rules)
• Working knowledge of U.S. tax forms and regulations, including W-8/W-9 validation, backup withholding, and IRS B Notice processes, with a high level of accuracy in handling sensitive financial data
• Strong analytical and reconciliation skills, with the ability to research discrepancies, interpret regulatory requirements, and ensure compliance with state unclaimed property laws and federal tax regulations

Preferred Qualifications

• 5+ years of experience in tax reporting, unclaimed property, or financial operations within a regulated environment
• Advanced expertise in unclaimed property compliance and reporting, including multi-state reporting, due diligence processes, and dormancy tracking, along with knowledge of IRA withholding requirements
• Demonstrated leadership or mentorship experience

Role Specific Work Experience

• 3+ Years Required; 5+ Years Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Career Level 4IC