Cost Basis Specialist

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 150 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.

About This Job

The Senior Trust Securities 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

Daily processing would include, but is not limited to:

  • Monitoring and tracking of assets received with incomplete or missing cost basis

  • Monitoring and tracking for assets distributed where costs basis needs to be provided externally  

  • Attaining cost basis information from external custodians on newly receipted in assets

  • Calculation of necessary cost basis adjustments

  • Processing updates to the accounting system for necessary cost basis adjustments

  • Quality of review of adjustments

  • Liaison to the Trust Administration team for all cost basis processing needs

  • 20% - Monitoring and tracking cost basis needs.

  • 15% - Attaining and distributing cost basis information with external institutions

  • 50% - Calculating and processing of adjustments

  • 15% - Quality review of adjustments

  • Perform other duties as assigned

Work Schedule

  • Monday-Friday, 8:00am-5:00pm

Knowledge, Skills & Abilities Required

  • Strong written and verbal communication skills

  • Strong conflict resolution skills while maintaining a high quality of customer service

  • Strong problem-solving skills

  • Ability to handle multiple tasks simultaneously and continually meet deadlines

  • Decision making skills

  • Motivated and organized self-starter with strong attention to detail and accuracy with the ability to manage multiple priorities without direct supervision

  • 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

  • Intermediate level proficiency with Microsoft Word, Excel and Outlook

Education & Experience

  • Associates’ Degree preferred or equivalent combination of education and experience

  • 2+ Years Trust, securities processing, or financial services experience preferred

Location: 922 Walnut St, Kansas City, Missouri 64106

Time Type:

Full time
Company
Commerce Bank
Posted
09/01/2021
Type
Full time
Salary Range
$59,000.00 - 95,000.00
per Year
Salary range estimated by
Location
Kansas City, MO 64106, US