IRA Specialist

FIRSTBANK SOUTHWEST•Amarillo, TX

5d•Onsite

About The Position

Responsible for the overall coordination of all Tax Favored Account products, including Individual Retirement Accounts, Health Savings Accounts and Certificates of Deposit. This includes tax reporting, required minimum distributions, contribution limits, yearend statement processing, interest rate calculation and other regulatory requirements.

Requirements

High School Diploma/GED and 4 years’ experience in IRA administration; OR
Associate degree and 2 years’ experience in IRA administration
General computer skills
Microsoft Office, specifically Word and Excel
Works well independently
Treats all customers and fellow employees with respect
Exceeds customer expectations
Meets customer needs
Maintain confidentiality of all bank records
Conducts interactions with honest, ethical, and strong moral principles
Performs at the highest level
Takes responsibility for actions
Does what is expected
Leads by example and takes initiative
Works as a team
Efficiently shares information in a collaborating and proactive manner
Pays attention to detail
Solves problems
Makes sound decisions
Manages time effectively
Prioritizes effectively
Performs multiple tasks simultaneously
Shows up for work and is on time
Complies with all laws and regulations
Completes all required training
Adheres to Bank Values

Responsibilities

Validates new Tax Favored Accounts for correct tran code processing, interest rates, and correct spelling.
Ensures all documents are signed properly and archived.
Reviews and corrects any Tax Favored Account transaction on the Unposted Item Repair report.
Proofs and mails IRA/CD interest and distribution checks daily
Reviews and corrects Tax Favored Account contributions or distributions for accurate tax reporting.
Monitors required minimum distributions at year end to ensure customer is compliant.
Reviews and mails IRA year end statement of condition.
Mails and maintains IRA Notice of Withholding as needed.
Maintains records as stated by state retention guide which includes storage and destruction of records.
Participates in an on-going comprehensive training program to maintain awareness of compliance regulations; complies with government rules and regulations regarding Tax Favored accounts.
Other duties as assigned.