Cost Basis Specialist (Flexible/Hybrid)
Commerce Bank

Kansas City, Missouri

This job has expired.


About Working at Commerce

Wouldn't it be great to build your career at a bank that's known for helping people with their financial challenges? That's exactly what you'd be doing when you join the team at Commerce Bank. We're looking for teammates who are ready to do whatever it takes to help our customers with their everyday financial needs. You'd be helping yourself too, because Commerce has a tradition of recognizing and rewarding team members for their talent, skills and contributions.

No wonder we've been an industry leader for over 155 years and have developed a reputation as a great place to work in the financial services world. If you'd like to be a part of a team and culture that is respected by its peers and in your community, we should talk. We're always looking for the best and brightest.

The Commerce Trust Company, a division of Commerce Bank, is ranked among the top 25 investment advisors in the U.S. with over $61 billion in client assets. The Commerce Trust Company concentrates on serving individuals, families, business owners and institutions investment management needs through a combination of world class capabilities and resources, objective advice, customized solutions, and excellent service.

About This Job

The Cost Basis Specialist is responsible for supporting the full spectrum of cost basis processing, including the updating of cost basis on any asset where the cost basis is missing or requires maintenance, as well as distributing cost basis information to external custodians as needed. This will primarily include all new assets received by Commerce Trust Company, special circumstances (i.e. gifting type adjustments), or when assets are distributed from Commerce Trust Company to another institution.

Essential Functions

  • Processing dividend and interest income from our Depository Trust Company (DTC) and Bank of New York (BONY) depositories, foreign ORD and ADR income; foreign tax withholding and related fees for Wealth Management customers.
  • Perform pre-balancing of forecasted payments and process allocated income payments
  • Resolve cash differences due to allocation changes
  • Balance domestic and foreign income
  • Research and resolve cash and position differences
  • Monitor and respond to Globe Tax inquiries and reports on foreign entitlements and payments throughout the day
  • Balance and process monthly automated cash sweep income, and monthly notional unit adjustments
  • Cross train on team functions to gain knowledge on various processes and provide back-up as needed
  • Perform other duties as assigned

Work Schedule:
  • Monday-Friday, 8:00am-5:00pm
  • Flexible/Hybrid work arrangements available - training and introductory period onsite. Once training is completed and production standards are being met, 1-2 days a week onsite and 3-4 days a week work from home arrangements are available.

Knowledge, Skills & Abilities Required
  • Basic knowledge of wealth management operations
  • Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities, and work independently
  • Inquisitive, agile, and strong team player with excellent written, verbal, and interpersonal communication skills
  • Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
  • Basic proficiency with Microsoft Office software, including Outlook, Excel, Word and Teams

Education & Experience
  • Associates degree or equivalent combination of education and experience required
  • 3+ years financial services experience related to securities, reconciliation or accounting required

Location: 811 Main St, Kansas City, Missouri 64105

Time Type:
Full time


This job has expired.

Get Hired Faster

Subscribe to job alerts and upload your resume!

*By registering with our site, you agree to our
Terms and Privacy Policy.

More Banking jobs


First Financial Bank
Chicago, Illinois
Posted about 3 hours ago
Lake Trust Credit Union
Howell, Michigan
Posted about 3 hours ago
Amerant
Coral Gables, Florida
Posted about 1 hour ago
View Banking jobs ยป