Specialist, Tax & Cost Basis Operations

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).

Cost Basis Operations (CBO) is part of the Custody & Asset Services division of Operational Services. We are dedicated to leading a culture that delivers timely and accurate tax reporting in our efforts to create a premier client experience, while providing a controlled and disciplined environment that allows our employees to feel valued and engaged. This is a fast-paced working environment where effective communication and teamwork are a must. Explore an exciting and challenging opportunity to join an exceptional team with Operational Services that has a direct impact on our clients. 

As a Specialist in Cost Basis Operations you will be part of a team that oversees the transmission and upkeep of cost basis data for assets transferred in and out of Schwab.  This is a fast-paced working environment where effective communication and teamwork are a must. Flexibility and adaptability are necessary, because the specialist will rotate through different functions as business needs arise. Duties for this role will include, but are not limited to:

• Research and processing cost basis adjustments for Retail and Advisor Services clients
• Option trade reconciliation, return of capital, and cost basis fixed income updates
• Research across multiple systems to verify transaction information
• Process corrections in Gainskeeper, Schwab’s cost basis system
• Work collaboratively and optimally with others

• Advanced MS Excel skills, ability to work with large data sets
• Bachelor's degree or equivalent experience in Accounting, Finance or Economics
• Proven tax and cost basis experience and knowledge framework
• 2+ years of experience in Operations or the financial services industry
• Expertise in IRS regulations in relation to broker/dealer reporting
• Expertise in tax and cost basis reporting topics, such as impact of return of capital transactions, corporate actions, fixed income amortization/accretion, etc.
• Expertise in either Schwab Blue or Green Tax or Cost Basis Systems
• Highly motivated and results driven
• Demonstrates excellent organization and time management skills
• Excellent written and verbal communication skills
• Very strong analytical skills, attention to detail, and a passion for service quality
• Ability to work under pressure in a fast-paced, ever-changing environment while maintaining the highest level of positivity and professionalism
• Identify and communicate issues effectively and timely to peers and management team
• Series 7/63 preferred

In addition to the salary range, this role is also eligible for bonus or incentive opportunities.