Log In
Sign Up
Customer Service
Executive Alliance Hiring for Bank IRA Processing Specialist – REMOTE Job at Remote Full Time
br{display:none;}.css-58vpdc ul > li{margin-left:0;}.css-58vpdc li{padding:0;}]]>
Our client – a major bank on Long Island is looking for a Bank IRA Processing Specialist responsible for ensuring that all compliance and regulatory requirements are met. They will monitor IRA products and transactions to ensure all coding is validated against IRS regulations. This position also requires applicant to stay abreast of IRS tax reporting, IRA regulations, and new product offering. This is a REMOTE role. Great benefits and culture!
Responsibilities:
- Subject matter expert on IRA rules, regulations, practices, and
acts as a resource for other associates
- Reviews all new Plans, contributions, conversions, transfers,
distributions, and close outs.
- Adhere to regulatory compliance regarding correction
processing with the IRS and at state(s) level, including IRS
Forms 1099R, 1099SA, 1099Q, 5498, 5498SA, 5498ESA, 1096,
federal and state withholding remittance, and abandoned
property escheat laws for various states.
- Process outgoing Direct Transfers to other financial institutions.
- Monitor day-to-day IRA processes and transactions for accuracy.
- Assists with annual calculations and processing of Required
Minimum Distributions for all IRA plans.
- Responsible for maintaining all IRA customer records.
- Provide assistance to branches, private bankers, customer service
call center, existing and potential customers, beneficiaries,
vendors and other financial institutions by responding to
inquiries, conducting necessary research and resolving issues and
problems in professional manner.
- Perform routine maintenance on existing accounts; including
adding and removing beneficiaries and calculating and verifying
RMDs and conversions.
- Assists in education and information campaigns for employees.
- Complete research requests as necessary to resolve day to day
customer issues and the execution of complex and escalated
issues.
- Takes initiative to work through issues and able to identify and
champion potential process improvements.
- Quality Assurance review for End of Year reporting and annual
mailings and adheres to deadlines.
- Responsible for testing of system generated IRA forms and
release updates.
- Maintains IRA related department procedures to comply with
current requirements and regulations.
- Perform other related Branch Operation duties as assigned by
management.
Qualifications:
- College degree preferred or a combination of education and
experience.
- Minimum 2 years’ Banking experience preferred.
- Experience with IRA transactions required.
- Self-starter with demonstrated ability to work both
independently and efficiently.
- Outstanding time management skills and interpersonal skills
- Ability to work with all levels within the organization.
- Possess excellent oral and written communication skills.
- Must be organized and detail oriented and exhibit flexibility and
willingness to work at a rapid pace.
- Excellent critical thinking and problem-solving skills.
- Proficiency in Microsoft Office and various banking third party
platforms.
- Must be able to find a high-volume, dynamic, and team-focused
environment engaging.
- Must comply with all state and federal regulations.
#ZR
#CB
#IND2
