The IRA/Savings Specialist is responsible for maintaining the IRA/Savings portfolio duties within Deposit Services.
Responsibilities
Review all daily, weekly and monthly IRA/Savings reports.
Review reports pertaining to Inactive and dormant accounts and assist with sending out all notices.
Responsible for the Stale-dated Money Order and Cashier’s Check process and maintaining the log.
Assist with the Escheat Process
Responsible for reviewing the B-Notices.
Maintain all IRA documents from branches, including all new account paperwork, contributions and distributions and the handling of all mail pertaining to IRA/Savings area.
Maintain all Death Notifications & maintenance of the Beneficiaries.
Responsible for maintaining all CDARS through the Promontory Interfinancial Network website.
Attend IRA/Savings training; participate in IRA/Savings webinars/seminars and Pension Management training sessions. Disseminate training materials to Retail Administration.
Responsible for the 5498 and 1099R corrections, along with assisting with the annual survey.
Interest verification accounts received in the beginning of each month.
Responsible for maintaining the 1098/1099 copies for the Bank.
Complete the IOLTA filing and review of all accounts listed within the product.
Monitoring of the Required Minimum Distribution report in the beginning of year. Responsible for the printing and mailing of withholding letters to customers.
Support the Customer Care Center and Retail Banking teams as needed with IRA/Savings-related issues or questions.
Create, update, and maintain assigned policies and procedures.
Assist Management with new processes and projects; strengthen internal controls and assist with other projects and duties as assigned.
Qualifications
Education and Experience
High School diploma or equivalent required
Minimum 2 years’ banking experience in IRA/Savings or other deposit operations function
Skills and Competencies
Strong analytical and problem solving skills
Skill in organizing resources and establishing priorities
Ability to handle multiple concurrent projects in a high-pressure environment
Strong in attention to details and accuracy
Demonstrated experience with Microsoft Outlook, Excel, and Word
Exceptional customer service skills
Ability to communicate and interact well with Team Members, customers, and vendors