PCS Account Officer I

Fifth Third Bank • Cincinnati, OH

365d

About The Position

The Account Officer I is responsible for the administration of a variety of accounts including Agency accounts, IRAs, and Custody accounts, with total book revenue exceeding $1 million. This role may involve working with clients' estate plans, which may include the use of multiple accounts and multiple beneficiaries. The target size of the account book is 500 Private Bank accounts or 600 Retail accounts. The position requires accountability for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. The Account Officer I is expected to always do the right thing for customers and colleagues, ensuring that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, the role achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Requirements

• Bachelor's degree preferred or related experience required.
• 2+ years experience in financial services.
• Effective client relationship skills and experience.
• Demonstrates effective time management skills and the ability to multi-task and prioritize work.

Responsibilities

• Coordinate services for a portfolio of accounts, consisting of Agency, IRAs, and Custody accounts.
• Retain client base by working with the client's service team to deliver the highest service and client contact standards.
• Ensure smooth transitions as clients move between service models.
• Support the New Account Team in the preparation and creation of account documents and assist in funding new accounts.
• Communicate with current and prospective clients through written correspondence and telephone calls.
• Consult with clients and advisors regarding Required Minimum Distributions on IRA accounts.
• Complete annual administrative account reviews and other compliance responsibilities.
• Engage in fiduciary decision-making and manage financial risk in the best interest of the clients.
• Process requests for movements of funds internally and externally, following all Bank policies and procedures.
• Coordinate annual 1099R and 5498 reporting and annual tax letter preparation.
• Work with IM&T Fulfillment Center to open and close accounts, process transactions, and maintain accounts.
• Work closely with Trust Tax Accountants and outside tax preparers to ensure proper tax reporting.
• Oversee and ensure that all accounts, fees, statements, asset transfers, and internet set-up is complete and accurate.
• Acquire additional assets from existing clients and identify other bank products and services.
• Interact with sales force to ensure a high quality client on-boarding experience.
• Communicate with clients and sales force through the entire on-boarding process.
• Demonstrate sound decision-making skills, balancing business risks with clients' best interests.
• Seek advice and counsel from senior officers when faced with challenging situations.
• Champion the Bancorp Vision and Core Values through personal actions.
• Recommend enhancements to policies and procedures when appropriate.
• Exhibit strong interpersonal communication skills.
• Use effective problem solving and analytical skills.
• Attend regular departmental and community continuing education.
• Assist with the supervision and training of Account Specialists and other support staff.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees