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Tax Services Senior Analyst - Financial Services Organization - Fiduciary Trust Tax Services



IT, Accounting & Finance
Cincinnati, OH, USA · Reykjavík, Iceland
Posted on Friday, June 7, 2024
EY focuses on high-ethical standards and integrity among its employees and expects all candidates to demonstrate these qualities. At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all.

Primary location for this role is in OH and IL.

EY is a leader in serving the global financial services marketplace and the only professional services firm with a separate business unit dedicated to the financial services industry – the Financial Services Organization (FSO). Our focused model and bold ambition have put us at the center of the events that continue to reshape and redefine our industry, working side by side with a range of clients from our most venerable institutions to dynamic new entrants across Banking and Capital Markets, Wealth and Asset Management and Insurance. Our purpose is to help build a financial services industry in which financial institutions are trusted and flourish, and the global economy is healthy, growing, and secure. If you have a passion for rallying together to solve complex challenges, then come join our dynamic FSO team!

The opportunity

When you join EY EDGE, you’ll be at the heart of EY’s critical mission to build a better working world by applying your knowledge, skills and experience in assisting clients in meeting their business objectives. You will learn, grow and contribute — building new relationships and discovering the satisfaction that comes with producing high-quality, valued work and advice.

Your key responsibilities

You’re likely to spend your time on a diverse array of projects, responsibilities and tasks, supporting client engagements by participating in day-to-day interactions with team members, providing a quality work product and driving delivery of services to meet deadlines. You will support the Fiduciary/Trust Tax Services practice with the preparation and delivery of tax information statements, tax returns and related reporting for agency, custody and fiduciary accounts for tax compliance engagements with banks, wealth management firms, trust companies and law firms. You’ll be working in a highly collaborative culture, where listening to and sharing information with colleagues is an essential part of the role.

Skills and attributes for success

· Performing basic tax research, preparing tax information statements and tax returns, including supporting the preparation of Forms 1041 and state income tax returns for trusts and estates, and learning to identify generation-skipping transfer tax events that may require further consultation to determine additional reporting requirements

· Learning how to handle post-mortem planning, including selection of income tax year, IRC Section 645 elections, income/estate tax deduction planning

· Preparing and reviewing tax information statements and less complex trust tax returns, including Forms 1099, 5227, 990, 990-PF, and 1041

· Translating data from a range of sources into client-ready insights and deliverables to support informed decision-making concerning required tax reporting

· Researching basic tax issues, in consultation with senior colleagues, to support evaluation and review of tax compliance requirements central to fulfilling fiduciary tax reporting obligations

· Building effective relationships with clients and understanding their unique needs to provide tailored services

· Identifying opportunities to introduce additional EY services to support clients with meeting business needs and achieving strategic objectives

· Conduct comprehensive client data review related to sales, asset, account, beneficiary, and transaction data to identify and correct data bridging and/or tax coding errors based upon professional judgement, informed by training and knowledge of fiduciary tax concepts

· Reconciliation of client account database and tax filings to achieve complete, accurate and timely filing of tax returns; identifying and resolving reconciliation discrepancies

· Prioritization of engagement team assignments to achieve appropriate workflow and timely production of client deliverables

· Communicating with client tax liaisons, client trust administration teams and client trust officers to gather required information, and obtain instruction or authorization necessary for timely, accurate production of tax information statements, tax returns and related reporting

· Support billing and collections for tax compliance and related services

· Routine client data review related to sales, asset, account, beneficiary, and transaction data to identify and correct data bridging and/or tax coding errors based upon professional judgment, informed by training, documented guidance and knowledge of basic tax concepts

· Assist engagement team with reconciliation of client account database and tax filings to achieve complete, accurate and timely filing of tax returns; identifying and resolving reconciliation discrepancies

· Routinely communicating with immediate supervisor and colleagues to obtain guidance and instruction pertaining to performance of tax compliance activities, provide updates on status of work, and discuss recommendations concerning correction of client bridged-data to support accuracy and consistency in tax reporting

· Reconciling routine billing discrepancies

To qualify for the role, you must have

· Bachelor degree or equivalent experience (Accounting, Business, Finance or equivalent degree preferred)

· 2–3 years of experience

· Proficient in computer software applications, including Microsoft Word, Excel and PowerPoint and ability to learn other software applications

· Proficient in company-specific systems and tax software applications, including ONESOURCE™ Trust Tax

· Knowledge of fiduciary and/or income tax law and concepts required to prepare US federal and state tax information statements and tax returns

· Read and interpret trust agreements

· Working knowledge of tax compliance and information reporting rules

· Ability to work effectively both independently and with a team, assist with a variety of projects of varying degrees of complexity

· Apply education and knowledge gained through on-the-job experience to identify opportunities to solve problems across engagements and to improve processes to increase efficiency and enhance client service

· Responsible for training less experienced team members on administrative tasks and tasks supporting the tax compliance process

· Excellent organizational and verbal/written communication skills

· Ability to follow a standardized process and ask questions when needed

· Prioritization of assignments to achieve appropriate workflow and timely production of client deliverables

· Commit to periodic travel (5%–10%)

Ideally, you’ll also have

· Experience in a professional services environment

· A proven record in fiduciary tax and a thorough understanding of fiduciary tax laws and concepts required to prepare US federal and state returns

· Strong analytical skills and attention to detail

· The ability to adapt your work style to work with both internal and client team members

What we look for

We’re interested in tax professionals with a genuine interest in providing outstanding services to some of the world’s most influential people. Working with people from all backgrounds, from

executives and entrepreneurs to investors and families, you’ll use your experience and status as a trusted advisor to maintain and further our reputation for excellence.

What we offer
We offer a comprehensive compensation and benefits package where you’ll be rewarded based on your performance and recognized for the value you bring to the business. The salary range for this job in most geographic locations in the US is $62,700 to $103,400. The salary range for New York City Metro Area, Washington State and California (excluding Sacramento) is $75,200 to $117,500. Individual salaries within those ranges are determined through a wide variety of factors including but not limited to education, experience, knowledge, skills and geography. In addition, our Total Rewards package includes medical and dental coverage, pension and 401(k) plans, and a wide range of paid time off options. Under our flexible vacation policy, you’ll decide how much vacation time you need based on your own personal circumstances. You’ll also be granted time off for designated EY Paid Holidays, Winter/Summer breaks, Personal/Family Care, and other leaves of absence when needed to support your physical, financial, and emotional well-being.
  • Continuous learning: You’ll develop the mindset and skills to navigate whatever comes next.
  • Success as defined by you: We’ll provide the tools and flexibility, so you can make a meaningful impact, your way.
  • Transformative leadership: We’ll give you the insights, coaching and confidence to be the leader the world needs.
  • Diverse and inclusive culture: You’ll be embraced for who you are and empowered to use your voice to help others find theirs.
If you can demonstrate that you meet the criteria above, please contact us as soon as possible.
The exceptional EY experience. It’s yours to build.
EY | Building a better working world
EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY is an equal opportunity, affirmative action employer providing equal employment opportunities to applicants and employees without regard to race, color, religion, age, sex, sexual orientation, gender identity/expression, pregnancy, genetic information, national origin, protected veteran status, disability status, or any other legally protected basis, including arrest and conviction records, in accordance with applicable law.
EY is committed to providing reasonable accommodation to qualified individuals with disabilities including veterans with disabilities. If you have a disability and either need assistance applying online or need to request an accommodation during any part of the application process, please call 1-800-EY-HELP3, type Option 2 (HR-related inquiries) and then type Option 1 (HR Shared Services Center), which will route you to EY’s Talent Shared Services Team or email SSC Customer Support at ssc.customersupport@ey.com