Overview

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