At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

SUMMARY

U.S. Bank is seeking a Trust Tax Department Manager within its Wealth Management division. This position will report to the SVP Head of Tax Services.

RESPONSIBILITIES

Tax Operations & Administration Management:

• This position is highly focused on tax administration, including management of cash processing, tax payments, DDA and suspense account reconciliations, and filing of tax returns.

Tax Competencies:

• Strong working knowledge of current IRS regulations (including Chapters 3, 4 and 61) requiring operational process changes

• Withholding/reporting rules across 1099 (DIOB, R, MISC), 1041, 990 forms

• Strong working knowledge of various IRS filings (945 / 1042), IRS notices (penalties, audits, abatements), and communication with other tax revenue authorities

• Cost Basis (Return of Capital, Wash Sales, Estates)

• Income, Assets, Account Maintenance reviews for taxability and reporting

• The successful candidate will also have a strong working knowledge and experience in the US Tax Operations space as it relates to tax documentation, tax compliance, forms reporting, and regulatory filings.

• Strong fiduciary knowledge related to trust & estate administration and GST

Tax Preparation and Review:

• Potentially prepare a variety of tax returns (approximately 100) including trusts, individuals, foundations, 1099s throughout the year

• In-depth and cursory reviews of several hundred returns as prepared by internal staff, external CPAs and through our outsourced relationship with our tax vendor

• Review trust instruments for domiciliary tax assignment and proper tax reporting

• Complete and/or review team analyses of trusts with generation skipping tax eligibility

• Provide statistical analyses and management reporting related to work performed

Client Service and Management:

• Ability to address tax-related questions and issues affecting clients, relationship managers, and vendors requiring immediate attention

• Ability to effectively assess the impact of IRS rule interpretations to both clients and operations, and articulate the result succinctly

• The candidate must have solid, but versatile, leadership skills managing a small tax-technical liaison team and an indirect outsourced tax team yet have the ability to influence senior leaders within the organization.

• Strong written and oral executive-level communications skills and have experience engaging with senior-level stakeholders

• Strong problem-solving skills to identify complex risks early and develop actionable mitigation plans.

• The candidate must have demonstrated ability in being approachable and flexible in working with stakeholders and colleagues at all experience levels.

• Experience managing and developing talent at different levels of experience is also essential.

• As is customary with tax management positions, this role can be challenging and demanding during peak tax times throughout the year.

REQUIRED

• 15+ years of related tax preparation experience preferably within a financial services environment.

• 10+ years of tax department management experience preferably within a financial services' operations environment.

• Strong system knowledge of Excel and MS Office Suite.

• Bachelor's degree or equivalent work experience.

PREFERRED

• Strong System knowledge of SEI Trust3000, SWP, OneSource Trust Tax (fka TrustEase or Fast-Tax).

• Database knowledge: MS Access, SQL, general database queries.

• Bachelor of Science degree in Accounting or Finance or Master of Science in Taxation, Accounting or Finance.

• Certification as a CPA or EA.

This position offers a hybrid/flexible schedule which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

#USBOps

#WCIBO

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) EEO poster.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program (https://careers.usbank.com/verification-of-eligibility-for-employment) .

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $108,375.00 - $127,500.00 - $140,250.00

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.