IRA Specialist

Job Summary

The IRA Specialist will perform a variety of duties related to IRAs and provide a wide range of support to Bank Services Operations Management to include reviewing, processing, and updating daily work.  This position will provide guidance to branches and internal departments with routine to moderately complex inquiries and perform duties independently with minimal managerial oversight.  

Key Responsibilities / Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


* Act as the subject-matter expert for IRAs.


* Review new and existing customer and account relationships for complete and accurate documentation and account set up.


* Review of all activity on IRA accounts daily to ensure transactions are processed correctly and forms are completed to prevent and minimize any tax reporting issues.


* Perform routine maintenance on existing IRA accounts (including adding and removing beneficiaries, calculating, and verifying RMDs, and conversions)


* Perform document administration and management tasks to file, safe keep, image, and audit documents. 


* Review and modify processes and procedures routinely to ensure compliance and improve efficiency.


* Assist with maintaining training materials regarding new products and services and updates to policies and procedures.


* Take ownership of problem resolution on deposit products and services, identifying the issue, resolving, and following up with customer to ensure satisfaction.


* Assist with reviewing, processing, and performing daily operational duties including workflows.


* Develop and maintain an in-depth knowledge of bank products, services, department procedures and policies, and regulations to ensure accurate handling of inquiries.


* Cross-train to perform other functions and duties assigned in Deposit Operations.


* Maintain confidentiality and security of sensitive information.


* Adhere to all corporate policies and procedures, Federal and State regulations, and laws.


* Complete all mandatory annual compliance training.


* Follow regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering and other unlawful activities, as well as regulations pertaining to lending and consumer compliance to include fair lending laws.


* Perform other duties and special projects as assigned. 

Job Requirements

Education:


* High school diploma or equivalent required.

Required:


* 5+ years’ experience in a financial institution required, preferably in a back-office operations area.


* 3+ years' experience in IRA processing. 


* Advanced knowledge of accounting, balancing principles, and bank operations.


* Demonstrated technology skills, includi...