Certificates, IRA & Tax Reporting Representative I/II

Tower Federal Credit Union•Laurel, MD

10d•$23 - $29•Onsite

About The Position

The Certificates, IRA and Tax Reporting Representative I provides daily support to members and the frontline staff, regarding all Deposit Product Rates, Share Certificates, Individual Retirement Accounts (IRA) and Trust Accounts. The Representative is responsible for upholding organizational values, responding promptly to customer needs and displaying courtesy and sensitivity while managing difficult or emotional member situations. This position is the subject matter expert and independently answers all deposit-related interest questions.

Requirements

High School Diploma and three years of related transaction channel processing experience
Prefer a current and active knowledge of regulations and legal environment governing transaction channel processing
Must become familiar with Trust Account applications and Tower’s Certification of Trust, IRA software as a General User and IRA account transactions such as contributions, distributions and IRA Federal withholding.
Must become familiar with W-8BEN, W-9, the 1099INT, 1099R, 1042-S and 5498 tax reporting guidelines and
Must become familiar with the State of MD Escheat
Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.

Responsibilities

Provides exceptional member service for products including, but not limited, to Share Certificates, Individual Retirement Accounts (IRA) and Trust Accounts.
Serves as the subject matter expert to frontline staff for all CD-related questions and independently answers all CD-related questions from frontline staff and members. The Certificates Representative identifies, answers and resolves all deposit-related interest questions, not just CD account interest.
Serves as a resources to front line staff and other employees regarding information information about Share Certificates, IRA’s and Trust Accounts.
Proficiently processes transactions including: opening new CDs, CD additions/withdrawals, closing CDs, Bump-up Authorizations, CD add/change ownership and any other transactions associated with regular CD
Proficiently utilizes the Early Withdrawal Penalties calculation and posts certificate early withdrawal penalties
Communicates with members on all things related to CDs, IRAs and Trust
Determines if IRA transactions comply with Internal Revenue Code (IRC) and refers any questionable transactions to the Certificates, IRA and Tax Reporting Senior and/or Manager.
Proficiently distributes official checks for CD withdrawals and official check requests from Records
Verifies daily reports such as new deposit products reports, Deceased IRA report, Rate Change Report, Escheat Reports and other reports as needed.