IRA Administrator

Valley Bank • Clifton, NJ

97d

About The Position

The position involves managing IRA accounts for clients, ensuring compliance with IRS rules and procedures. Responsibilities include opening, maintaining, and closing IRA accounts, processing contributions and distributions, and assisting with tax form preparation. The role requires staying updated on IRA regulations and providing guidance to branch personnel.

Requirements

• Knowledge of IRA rules, regulations, and products, such as traditional, Roth, SEP, and SIMPLE IRAs.
• Intermediate knowledge of Microsoft Office applications (i.e., Word, Excel, and Outlook).
• Excellent verbal and written communication skills.
• Ability to prioritize and organize assignments.
• Ability to work independently and as part of a team.
• Ability to handle multiple tasks and prioritize deadlines.
• High School Diploma or GED.
• Minimum of 3 years of financial services experience with one year of experience in IRA administration.

Nice To Haves

• Associate's or Bachelor's degree in accounting, finance or related field.

Responsibilities

• Open, maintain, and close IRA accounts for clients, following IRS rules and procedures, including handling decedents accounts and calculating Required Mandatory Distributions.
• Process IRA contributions, distributions, rollovers, transfers, and conversions.
• Assist Enterprise Reporting manager with the preparation and filing of the applicable IRS tax forms and reports, such as Form 5498 and Form 1099-R.
• Answer client inquiries and provide information on IRA rules.
• Stay updated on IRA regulations, policies, and best practices, and attend training sessions as required. Provides guidance on regulations to branch personnel.
• Assist with various projects as needed.

What This Job Offers

• Education Level: High school or GED
• Number of Employees: 1,001-5,000 employees