Sr. Trust Tax Accountant II

Sr. Trust Tax Accountant II

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General Function: The Wealth & Asset Management Senior Trust Tax Accountant II possesses an advanced comprehension of fiduciary tax compliance. The individual works under minimal, if any, supervision directly with internal and external clients, including Trust Officers, Co-trustees, account owners, grantors, and beneficiaries to prepare all required tax filings for approximately 750 of the department's most complex accounts. The individual assists in the tax return review process and has developed into a technical and procedural resource for the department.

In addition to the preparation of fiduciary income tax returns (Forms 1041, 1099, and 5227), the individual prepares other complex ancillary client returns including charitable entity returns (Forms 990 & 990PF), individual returns(Forms1040,1099R,5498), partnership returns (Forms 1065 and 1120S), and gift and estate tax returns (Forms 709, 706 GS(T), and 706 GS(D)).

The Wealth & Asset Management Senior Trust Tax Accountant II serves as a tax subject matter expert for Trust Officers and Trust Specialists, as well as Wealth Management Advisors to meet the information needs required to provide an excellent customer experience and to reduce risk and sustain the growth of the line of business.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Duties and Responsibilities:

• Demonstrates a highly-developed technical knowledge required to understand and apply the principles of fiduciary accounting and taxation.
• Demonstrates an understanding of advanced trust and estate planning concepts.
• Responsible for the timely and accurate completion of assigned tax returns and the preparation of the appropriate work-papers and audit trail for those accounts.
• Demonstrates the attention to detail required preparing the department's most complex returns with minimal, if any, review.
• Understands the importance of meeting required production goals and regulatory deadlines and demonstrates appropriate time management skills to achieve both.
• Continues to develop technical skills and remain current with tax and estate laws and regulations.
• Has developed into a subject matter expert in a specialty area, such as estates (with any related gift tax issues), investment partnerships, charitable trusts and foundations, GST trusts, or tax research.
• Assists department management in the tax return review process.
• Demonstrates a strong understanding of and is recognized as an operational resource for the Bank's tax preparation software and systems
• Assists department management by reviewing and finalizing less complex Fiduciary income tax returns prepared by others.
• Provides timely, candid and constructive feedback to team members regarding the returns, transactions and work papers reviewed.
• Responsible for assisting in the review process of additional, more complex tax returns, as directed by management (examples include Forms 1041, 5227, 1040, 990, 990PF).
• Reviews and understands trust documents and ensures the accurate taxation of assigned accounts (approximately 750).
• Monitors and analyzes transactions in assigned accounts for tax consequences.
• Advises Portfolio Managers and Trust Officers about any pertinent tax implications of certain types of investments.
• Reviews, analyzes, and communicates about information provided by individual income tax clients for estimated tax liabilities and generates individual income tax projections as required for tax planning purposes.
• Responds to client and client advisor questions concerning tax liabilities, deductions, credits, and related issues, including correspondence with the Internal Revenue Service and various state tax authorities.
• Frequent interaction with other areas of Investment Advisors regarding income tax issues. Participates as a member of certain Investment Advisors project teams as an income tax subject matter expert.
• Researches areas of tax law, as appropriate, including analysis of the related corresponding client data.
• Researches Federal, State and Local tax issues of law encountered during return preparation.
• Researches and presents internal departmental training on relevant tax topics as may be assigned by management.

Supervisory Responsibilities:

May have the opportunity to manage and direct interns, co-ops, and/or less experienced staff. As noted above, reviews the work of other less experienced staff and provides feedback to those staff members regarding their work. Provides department managers with feedback that is used in their preparation of mid-year and annual performance reviews for staff. Recognized as an extension of department management and assists management as needed. Assumes responsibility for department special projects. Makes recommendations relating to department changes in policies and procedures. Engages as an integral part of the return preparation, review, or issue escalation processes. Assists in addressing department-wide client issues that arise as directed. Demonstrates the problem-solving skills needed to mediate and remedy complex issues with minimal supervision. Engages in teamwork and embraces additional responsibilities. Assists other team members when own job responsibilities are complete. Possesses the ability to formally mentor, provide guidance to, and train staff in the following areas: Technical fiduciary tax and accounting issues, Trust systems and tax preparation software and Department policies and procedures and compliance.

Minimum Knowledge, Skills and Abilities Required:

• Bachelor's Degree in Accounting or Finance.
• Minimum 7 -10 years' experience in tax or prior public or industry accounting.
• CPA, EA or MBA preferred.
• Advanced working knowledge of accounting and tax subject matters.
• Microsoft Office software proficient.
• Understanding of tax return preparation software.
• Excellent analytical skills.
• Demonstrates sound judgment as well as the ability to apply logical/critical thought processes.
• Strong verbal and written communication skills - necessary to interact with clients, other staff, and senior management.
• Ability to work both individually, with minimal or no supervision, and as a team member.
• Ability to work in a professional and dynamic environment.

Working Conditions:

• Normal office environment with little exposure to dust, noise, temperature and the like.
• Extended viewing of CRT screen.

Location -- Grand Rapids, Michigan 49503