Job Actions

Job Information

Tax Credit Documentation Specialist - Clayton (Full-time)
Category: Banking, Insurance
  • Your pay will be discussed at your interview

Job code: lhw-e0-90669413

Company Profile

Commerce Bank

Contact Company

Local Information

Laugh while you Look

Sponsored Ads


  Job posted:   Thu Jun 7, 2018
  Distance to work:   ? miles
  1 Views, 0 Applications  
Tax Credit Documentation Specialist - Clayton (Full-time)
23667 Tax Credit Documentation Specialist - Clayton (Full-time) (Open)

Job Category:

Grade 08


Location: 8000 Forsyth, St. Louis, Missouri 63105


Job Expectations:

Tax Credit Documentation Specialist - Clayton (Full-time)How would you like to work for a great company that offers career growth and values your skills and experience? For over 150 years, Commerce Bank has built a strong reputation as a "Super Community" bank and is recognized as an industry leader. In today's growing and competitive financial services industry, we look for creative and innovative solutions to meet the needs of our customers. To achieve our results, we recruit the best and brightest employees who ask, listen and solve to meet our customers' needs!The Tax Credit Documentation Specialist provides professional documentation preparation for states referenced in the next paragraph. In a typical year approximately 120 credits are purchased. Each file on the purchase side consists of a Purchase Agreement, Transfer Form, Wiring Instructions, Corporate Resolution, etc. The process for each tax credit consists of getting documents signed by the Customer, coordination of transfer paperwork to the state, and wiring to the client. Transactional in nature, but includes establishing relationships with key State administrators, outside counsel, and repeat customers. The job is busy at end of each quarter and especially at year end and tax time.Once the Tax Credit is purchased, depending on the dollar amount, it can be sold in multiple pieces to various Commerce clients within the Trust and Private Banking area (Missouri, Kansas, Arkansas), to some larger corporations (Oklahoma, Texas, Wisconsin), or held for Commerce's own tax return (Iowa, Minnesota). On the sales side it is usually busiest the last two weeks of each quarter, in December, and from March 1 to April 15th. During this time we are selling our inventory, gathering information on whom we are selling to, getting documents signed by the Customer, coordination of transfer paperwork to the state, collecting payments, and distribution of final certificates.The person in this position will be responsible for handling closings for purchases and sales, payments for tax credit purchases, and processing of payment resulting from tax credit sales. This position requires daily coordination of files and would be assisted, as needed, by other members of the Tax Credit Services Department. The files must be completed and prepared for internal audit on a regular basis. This position will maintain contact with the new States, to ensure that their procedures are effective with Tax Credit Services.Applicant will learn about all of the State tax credit programs in all states currently in operation. Applicant will be trained and must then be prepared to take a transaction through the "life-cycle" of a tax credit: from the marketing of the purchase, to a forward commitment letter, to the ultimate purchase and funding via wire transfer after the tax credit is generated. Then, taking that tax credit to the sales side, and dividing it up for sale to our clients as needed. Applicant will be trained to handle all paperwork, documentation, transmittals to all state agencies, as well as procedures on money and accounting.Candidate duties will include the following:oAuthorization to sign the wires.oAuthorization to sign tax credit paperwork.oManagement responsibilities of Documentation Specialist.oManage the "sales side" database, including quarterly CRA reports, available credits reports.oResponsibility for all document exceptions, including pricing exceptions, and corporate resolutions Will also prepare tax credit sales documentation. This will include multiple state programs in a minimum of 8 states. Each tax credit sale often includes multiple (grouped) tax credits from different tax credit programs within one sale. Ensure that program data and language is current for each tax credit program. Conduct closings as needed. Follow established and proven procedures in place. Coordination of payment from tax credit sales. This includes preparing a memo to controller department detailing the purchases and log numbers (sales are often of a group of different tax credits), placing the transaction entries on the departmental Excel spreadsheet, routing the paperwork to the CBI controllers department in Kansas City, and forwarding and tracking the related transfer documents to the appropriate state agency.Experience/Education Required: Competency in Word and Excel required. High school diploma or equivalentPreferred: Technical skills associated with working with documents Proven record of high detail orientation

Time Type:

Full timeJoin our winning team.

If you're looking for something more than just another job, we're looking for you. We're searching for people with a make-it-happen attitude who also want to make a difference. At Commerce Bank, we take the time to really get to know our customers. Then we work together to help them achieve their goals. It's a great feeling. We are committed to always bringing our best, which means we are constantly looking for the best to join us. Does that sound like you?

Our policy is to provide equal opportunity to all qualified candidates and employees without regard to gender, race or ethnic background, age, religion, sexual orientation, national origin, marital status, veteran status, disability or any other non-job related factors. We are committed to maintaining a drug- and alcohol-free workplace and candidates will be required to perform a pre-employment drug screen.

More Information »