Individual Retirement Account Specialist

Individual Retirement Account Specialist

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Individual Retirement Account Specialist

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The IRA Specialist is responsible for the accurate and compliant administration of Individual Retirement Accounts (IRAs), including processing customer transactions and responding to inquiries. This position serves as a subject matter expert on IRA regulations, supporting internal teams and customers while maintaining strong vendor relationships and operational efficiency. The ideal candidate combines technical expertise with exceptional customer service and problem-solving skills.

Essential Functions

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

• Handles any branch or customer inquiries related to IRA accounts - Requires researching problems.
• Reviews all reports from Silverlake Core system and Ascensus on IRAs daily, weekly, or monthly as needed. Performs maintenance of IRA accounts, placing legal holds on accounts, verifies contribution / distribution codes, re-characterizations and conversions, rollovers and transfers, rejected automatic payments, 1099-R and form 5498 reporting corrections, periodic payment changes, and research issues, updating IRA when needed.
• Reviews all documents received from branch personnel on any IRA transaction. Pursues any other needed information through the responsible branch employees if possible.
• Reviews IRA forms and recommends any changes necessary to ensure proper information is received from members.
• Responsible for maintaining accuracy of the annual Required Minimum Distribution information. Updates Silverlake system to ensure RMD is calculating properly, processing updates if needed.
• Assists in the organization and delivery of IRA training. Keeps staff informed of any new IRA rules and regulations, IRA fundamentals, and use of Ascensus web portal.
• Must comply with applicable laws and regulations, including but limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control. Review IRS regulations to ensure compliance with IRAs.
• IRS B & C Notices Updates Core system to stop or start backup withholding. Creates and tracks notifications to members regarding IRS B & C Notices.

Other Duties

Skills / Abilities

Supervisory Responsibility

This position does not have supervisory responsibilities.

Work Environment

This job operates in an office setting, the opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and scanners. Office environment with job duties conducted via telephone, face-to-face meetings, and on the computer.

Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.

Travel

Limited local travel may be required for this position.

Education And Experience

This position is classified as non-exempt, and as such it is paid on an hourly basis. The pay range for this position is $25.00 per hour to $30.00 per hour. Other compensation includes overtime paid at one and one-half times the normal hourly rate for any hours worked in excess of 40 in a workweek.

This position is classified as full-time and the benefits package includes health insurance, dental insurance, vision insurance. Employees may select from coverage options which range from employee only to family coverage. Full-time employees receive Paid Time Off (PTO), a paid holiday schedule, paid bereavement, and paid parental leave. Benefits also include company paid life insurance and paid long-term disability coverage. Our bank also offers a 401(k) with a company mat

Equal Opportunity / Affirmative Action Employer M / F / disability / protected veteran status

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Seniority level

Seniority level

Mid-Senior level

Employment type

Employment type

Full-time

Job function

Job function

Other

Industries

Banking

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