CIN3 - Cost Basis Associate at Vanguard (Phoenix, AZ)

| Phoenix – Mesa – Scottsdale, AZ
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Who we are:
  • Cost Basis Operations, within Regulatory Operations, enables cost basis reporting excellence as stewards of subject matter expertise by adhering to regulatory obligations with timely and dependable service.
  • Cost Basis Operations specializes in processing request from clients, business partners, and contra firms relating to client account cost basis changes and corrections.
  • We support clients from all RIG segments with their specialized needs to provide a world-class brokerage experience.

What we do:
  • Review, evaluate, and process client requests in BPM, generated from client mailed in requests, Tax Resolution Services cases, internal account transfers, and contra-firms.
  • Ensure that all cost basis information viewable to clients on is accurate and timely updates are applied to that information when corporate actions or other market-caused events necessitate changes to be made to the cost basis of the securities held in clients' accounts that are affected by such events.

For questions about the department or to request a sit-with, please reach out to Abygail Foerster or Brad Wiegand.

Duties & Responsibilities

1. Develops expertise of Lean Management tools. Participates in daily team huddles, identifies problems and actively utilizes problem solving steps with the team to implement solutions and track success. Matures skills through the usage of Standard Work. Identifies opportunities to create value for the Client. Maintains department standards for rate per hour and quality goals.

2. Develops and maintains a thorough understanding of Cost Basis acumen.

3. Calculates and maintains cost basis information for client holdings using proprietary software programs in accordance with Internal Revenue Service regulations and established Vanguard legal requirements and department procedures.

4. Analyzes historical records and information provided by clients and other investment firms in order to reconstruct and/or verify the accuracy of cost basis information.

5. Assesses corporate actions and determines the resulting cost basis implications. Validates systematically generated output to ensure accuracy and makes adjustments when disparities occur. Validates that cost basis data is maintained accurately in client facing resources and materials.

6. Communicates with clients and internal business partners to provide updates on the status of their requests and/or solicit additional information through composing written correspondence and outcalls. Uses available resources with good judgment and elevates sensitive issues to management team when appropriate.

7. Participates in periodic audits of statements, tax forms, and software elevations to ensure accuracy of information and system functionality. Elevate inconsistencies to appropriate parties for investigation and resolution.

8. Participates in special projects and performs other duties as assigned.

  • Undergraduate degree or equivalent combination of training and experience preferred.
  • Accounting/finance background, brokerage industry experience preferred.
  • Customer service background preferred.
  • Ability to function as part of a team, learn quickly and adapt in a dynamic environment.
  • Strong interpersonal skills.
  • Excellent time management, problem resolution, research and communication skills.
  • Computer proficiency required, ability to learn and utilize proprietary software programs preferred.
  • Outstanding positive attitude with ability and willingness to effectively work within a team environment and give/receive constructive feedback.
  • Ability to prioritize and handle multiple tasks in a rapidly changing environment.
  • Flexibility to work OT and shifts that are key to meet business needs.

Special Factor

Vanguard is not offering visa sponsorship for this position.

About Vanguard

We are Vanguard. Together, we're changing the way the world invests.

For us, investing doesn't just end in value. It starts with values. Because when you invest with courage, when you invest with clarity, and when you invest with care, you can get so much more in return. We invest with purpose - and that's how we've become a global market leader. Here, we grow by doing the right thing for the people we serve. And so can you.

We want to make success accessible to everyone. This is our opportunity. Let's make it count.

Inclusion Statement

Vanguard's continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: "Do the right thing."

We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard's core purpose through our values.

When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard's core purpose.

Our core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.

Future of Work

During the pandemic, we transitioned to a work from home model for the majority of our crew and we continue to interview, hire, and on-board future crew remotely.

As we have developed the path forward, we have taken a thoughtful approach that both maximizes the advantages of working remotely and the many benefits of coming together and collaborating in a shared workspace. We believe that in-person interactions among our crew are important for preserving our unique culture and advantageous for the personal development of our crew.

When our Crew return to the office, many will work in our hybrid model. A smaller proportion of our crew will operate in the Work from Home work model (for example, field sales crew); or in the Work from Office model (for example, portfolio managers).

The working model that your role falls into will be communicated to you in the interview process - please do ask if you are unsure. We encourage you to make the decision regarding your job interview and offer knowing which model your role will fall into. We will test and learn as our ways of working evolve and will continue to evaluate working models along the way.
More Information on Vanguard
Vanguard operates in the Fintech industry. The company is located in Valley Forge, PA, Charlotte, NC and Scottsdale, AZ. Vanguard was founded in 1975. It has 20252 total employees. It offers perks and benefits such as Flexible Spending Account (FSA), Disability Insurance, Dental Benefits, Vision Benefits, Health Insurance Benefits and Life Insurance. To see all 123 open jobs at Vanguard, click here.
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