Cost Basis Expert

As a subject matter expert, maintain accurate cost basis tracking in brokerage platform through ongoing validations of tax lot data against transactional inputs. Resolve and respond to complex internal and external cost basis related inquiries. Reconcile discrepancies between various processing systems to ensure the accuracy of cost basis information. Contribute to process improvements and implement solutions as appropriate.

Key Responsibilities

• Process, reconcile and/or correct tax lot and cost basis entries, both routine and complex, for all brokerage products including mutual funds, equities, and bonds through various internal processing systems.  Ensure processing of transactions follow industry rules/regulations and internal compliance procedures.

• Work with both internal (Reorg, ACATs, AMP India) and external business partners (contra firms) to research and resolve complex issues, troubleshoot and provide seamless professional service.  Partner with offshore team to provide timely feedback and completion of daily work.

• Cross-train for related cost basis functions to serve as an effective backup to the team, as needed.

• Analyze historical records and information provided by clients and other investment firms in order to reconstruct and verify the accuracy of cost basis information.

• Run various reports on access databases to provide operational processing information and take action as appropriate.  Participate in various ad hoc responsibilities and project requests, as assigned.

• Contribute to process improvements and implement solutions as appropriate drive exceptional client service and risk mitigation.

Required Qualifications

• Associate degree or equivalent (2-years)

• 3 to 5 years of relevant experience

Preferred Qualifications

• Proven ability to research and resolve issues with demonstrated analytical and problem solving skills.

• Strong attention to detail with the ability to work under tight time frames and deadlines while achieving a high degree of accuracy.

• Effective written and verbal communication skills with the ability to understand and communicate complex issues.

• Fundamental Microsoft Office (Word, Outlook, Excel) skills.

• Accounting/finance background or brokerage experience.

• Access or other database application experience.

About Our Company
We’re a diversified financial services leader with more than $1 trillion in assets under management and administration as of 2022. Our team of 20,000 people in more than 20 countries, advise and manage assets and income of more than 2 million individual, small business and institutional clients. We are a longstanding leader in financial planning and advice, a global asset manager and an insurer. Our unwavering focus on our clients and strong financial foundation connects each of our unique businesses - Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. Here, we foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.

The estimated base salary for this role is $49,800- $67,300/ year. We have a pay-for-performance compensation philosophy. Your initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. In addition, most of our roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We also have a competitive and comprehensive benefits program that supports all aspects of your health and well-being, including but not limited to vacation time, sick time, 401(k), and health, dental and life insurances.

Full time

Non-Exempt

Business Support & Operations

CLEAR Clearing