Senior Team Manager, Cost Basis Operations

Your opportunity

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.

Cost Basis Operations is dedicated to leading a culture that delivers timely cost basis research, updates and reporting services 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.  Cost Basis Operations is under the Shared Support Services umbrella.  

The Sr. Team Manager in Cost Basis Operations is a leader with passion towards executing as a member of a team committed to the highest level of client satisfaction. The position requires a dynamic leader who can motivate, inspire and develop a diverse team responsible for performing and executing on our organization’s purpose and mission. In this role, you will manage a multi-faceted team responsible for updating cost basis, providing cost basis reporting for inclusion on tax forms, and supporting unrealized and realized gain/loss information online and on statements to assist with tax planning and investment decisions. This is a fast paced, detail-oriented, high-volume environment requiring the ability to interpret IRS regulations and build and cultivate relationships across the firm in order to be successful. In addition to a background in brokerage operations, the ideal candidate should possess experience effectively managing people at different stages in their career and professional development.

Key responsibilities include:

• Understanding of IRS regulations in order to ensure team compliance with firm’s policies and procedures through the implementation of effective controls and supervision
• Working with team members while partnering with offshore vendor to ensure client service level agreements are met and maintaining a balance between quality and efficiency
• Partnering with service teams to provide support on client escalations
• Working with Technology teams to restructure core processes to achieve productivity objectives while improving the client/rep experience
• Driving business results by acting as a subject matter specialist, fostering an environment that creates process efficiencies, leading project initiatives, and ensuring the implementation of projects within the department.
• Creating a work environment that promotes employee engagement by setting clear expectations and consistently providing information, resources, feedback, coaching and recognition that helps employees maintain a high level of performance.
• Identifying & selecting diverse talent for Cost Basis Operations

What you have

Required Qualifications:

• 3+ years of experience with Tax and Cost Basis reporting
• 1+ years of experience with direct team management in a Financial Services, Banking, or Operations role

Preferred Qualifications:

• Series 7, 63, and 9/10 licenses
• 2+ years managing Cost Basis team
• Knowledge and understanding of Tax and Cost Basis Reporting
• Proven ability to apply specialized knowledge within area of expertise, understanding broader impact on department, the organization and company
• Proven leadership of departmental or cross functional projects and/or initiatives
• Prior experience developing content, presenting and communicating with senior leadership
• Excellent analytical and influencing skills with the ability to think creatively and offer solutions that benefit the employees, clients, and firm
• Strong motivational and coaching skills that cultivates a strong and engaging environment
• Excellent time management, organizational skills and ability to set priorities and proactively solve issues in a dynamic multi-tasking environment
• Proficient technical skills, including knowledge of Microsoft applications
• Flexible with regard to both schedule and role as both may change with little notice in response to business demand
• Strong interpersonal skills with the ability to develop and grow working relationships with internal and external clients
• Ability to identify and mitigate risk by adhering to department and firm policies and procedures
• Experience in training and developing team members and providing feedback
• Ability to think strategically beyond day-to-day operations
• Bachelor’s degree

You demonstrate these behaviors: 

• Managing Performance - Taking responsibility for employee performance, by setting clear goals and expectations, tracking progress against the goals, ensuring feedback, and addressing performance concerns promptly.
• Analytical Thinking - Approaching a problem by using a logical, systematic, sequential approach
• Fostering Teamwork - As a leader, interest, skill, and success in getting groups to learn to work together cooperatively.
• Results Orientation - Focusing on the desired end result of one’s own or one’s units work; setting challenging goals, focusing effort on the goals, and meeting or exceeding them.
• Flexibility - Openness to different and new ways of doing things; willingness to modify one’s preferred way of doing things.
• Persuasive Communication – Ability to plan and deliver oral and written communications that are impactful and persuasive.
• Influencing Others - The ability to gain others’ support for ideas, proposals, projects, and solutions.
• Interpersonal Effectiveness - The ability to notice, interpret, and anticipate others’ concerns and feelings, and to communicate this awareness empathetically to others.