Tax and Cost Basis Operations Manager



Dallas, TX, USA
Posted on Friday, May 5, 2023

About Altruist

Altruist is a fast growing fintech company that's transforming the financial advice industry. Our mission is to make financial advice better, more affordable, and accessible to everyone. We’re a modern custodian built exclusively for registered investment advisors (RIAs). As we disrupt legacy custodians and revolutionize the $100T RIA market, we're seeking exceptional individuals to join our team. If you embody our core values of kindness, brilliance, and grit, and are passionate about making a meaningful impact, we want to hear from you!

About the position

Please note: This is an onsite position based out of our Dallas, TX facility with the option to work from home a few days a week.

As Altruist enters an expansion phase for our revolutionary product offering, we’re seeking an experienced Tax and Cost Basis Operations Manager to help position us for future growth and success. As a Manager in Tax & Cost Basis Operations, you will oversee processing operations and have responsibility for leading streamlined, efficient processes, and adhering to all applicable rules and regulations. You will work collaboratively to build out written supervisory procedures to support the business, act as a subject matter expert for the product, and own the tax form and cost basis reconciliation processes

What you’ll do

  • Periodic reconciliation of all transactions reportable on 1099-B, INT, DIV, MISC, OID, etc.
  • Clearly define and execute testing plan for year-end reporting
  • Identify and remediate cost basis breaks related to corporate actions, reclassification of income, wash sales, transfers, and other issues that may arise
  • Remit withholding to the IRS as-needed
  • Reconcile cost basis from CBRS, issue statements to non-CBRS participants, and process statements received
  • Process requests for updated cost basis and/or tax forms submitted by financial advisors, ensuring updates requested meet current cost basis regulations
  • Respond to escalated inquiries from the business
  • Create operational procedures and educational resources for the customer success team
  • Review legislative updates, identify improvements and suggests changes to processes and procedures
  • Serve as point of contact for new initiatives and defect resolution and perform quality assurance testing for vendor migrations

What you’ll bring

  • Expert in all facets of cost basis and consolidated 1099 reporting
  • Significant experience reconciling client tax and cost basis records
  • Demonstrated track record of process improvement
  • Ability to find solutions and manage initiatives independently
  • Experience administering annual solicitation and B-notice processes
  • Understanding of FATCA, 1042-S, and Puerto Rico tax reporting
  • One or more of the following FINRA licenses; Series 7, Series 9/10, Series 24, Series 99

Nice to have

  • Deep understanding of retirement plans and associated reporting
  • Experience with vendor management, especially existing vendors (Maxit/Scivantage, Wall Street Concepts, FIS)
  • Subject matter expertise in other areas of clearing operations to back up other departments as needed
  • Advanced excel skills
Dallas, TX salary range
$90,000$130,000 USD


  • Competitive salary and stock options
  • Premium Healthcare, Dental, and Vision insurance plans
  • Generous paid parental leave
  • 401(k) savings plan with matching contributions
  • Flexible paid time off

Total compensation includes a competitive benefits package along with equity in the form of Stock Options (ISOs). A salary offer will be determined by a number of factors including experience, skill level, internal pay equity, geographic location, and other relevant business considerations. We review all employee pay and compensation programs regularly to ensure fair, equitable, and competitive pay. At Altruist, we are committed to providing fair, equitable, and competitive compensation by leveraging market data to inform our pay bands. Base salaries will be reviewed at regular intervals throughout the year, typically in conjunction with performance review cycles. By evaluating compensation on a regular basis, we are able to reward high performance and ensure all employees have opportunities for growth.

Don’t meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At Altruist we are dedicated to building a diverse, inclusive, and authentic workplace, so if you’re excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.