IRA Administrator

Bank of Utah • Salt Lake, UT

8d • Onsite

About The Position

The IRA Administrator is responsible for the administration of assigned accounts, including IRA – Managed and Self-Directed. This role involves responding to client requests, supervising account opening and closing, preparing and reviewing documentation, maintaining client information in the accounting system, and ensuring accuracy and completion of account setups and closings. The administrator will also prepare and present account reviews, direct and approve receipts and disbursements, coordinate with investment advisors, monitor account cash balances, submit and approve trade requests, and administer alternative assets. Additionally, the role includes paying property taxes and insurance for real estate properties, supporting business development by meeting with prospective clients, managing account files, coordinating with tax professionals for tax reporting, handling physical assets and documents, and assisting with audits and regulatory exams. Other duties as assigned.

Requirements

• 2 years of IRA administration or related experience.
• Proficiency in Word, Excel, and Outlook, and aptitude for trust systems.
• Excellent client service skills.
• Attention to detail and accuracy.
• Excellent verbal and written communication skills.
• Organizational and prioritization skills.
• Diligent worker and self-motivated.
• Aptitude to complete the course of study of an IRA professional including a Self-Directed IRA Professional (SDIP) certification.

Responsibilities

• Administration of assigned accounts includes, but not limited to: Respond to client visits, calls, emails, and other client requests.
• Supervise the opening and closing of accounts.
• Document preparation and review: Prepare, provide, and confirm completion of primary documents to open and administer an account.
• Set up and maintain client and account profile info in the accounting system.
• Maintain account opening/closing checklist to confirm accuracy and completion of account set up or closing.
• Prepare, complete, and present account reviews for approval.
• Direct and approve receipts and disbursements for posting: checks, ACH, and wires
• Coordinate with assigned investment advisors to determine and document investment objectives of the account.
• Monitor account cash balances to assure the investment of excess funds and the availability of funds for disbursement.
• Submit and approve trade requests as needed.
• Confirm completion and accuracy of transactions posted.
• Administer alternative assets when applicable
• Pay property taxes and insurance for real estate properties; obtain and update valuations of alternative account assets in the accounting system.
• Support business development to obtain new accounts, including meeting with prospective clients to provide information about IRA services.
• Supervise document management: Establishment and maintenance of account files to retain primary and important documents
• Scanning and indexing account files electronically.
• Sending closed and aged account files to storage or destruction.
• Coordinate with tax professionals for tax reporting.
• Review, sign and file trust tax returns, when applicable.
• Joint receipt and withdrawal of physical assets and asset documents in and out of the trust vault
• Assist with gathering account files and information for annual audit and regulatory exams.
• Other duties as assigned.

Benefits

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays + paid time off, including paid parental leave
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed