Trust Employee Benefits Operations Specialist – Wealth Operations

Commerce Bank•Kansas City, MO

2d•$21 - $28•Hybrid

About The Position

For more than a century, Commerce Trust has been a leading provider of wealth management services including financial planning, estate and tax planning, investment management, private banking and trust administration services. Our approach to wealth management means assembling a team of seasoned wealth management professionals across disciplines who collaborate to ensure each client’s financial journey is uniquely crafted for their goals. Commerce Trust is a division of Commerce Bank. As a fiduciary and Wealth Management expert the Private Client Advisor Associate’s primary responsibility is the support of our Private Client Relationship Managers who are accountable for the delivery of wealth management advisory services to ultra-high net worth clientele and their business partners. The main purpose of this job is to process pension benefit payments and maintain accurate pension records.

Requirements

Associate’s degree or equivalent combination of education and experience required
2 years’ trust, banking, or financial services experience required
Strong customer service and interaction skills
Ability to work independently and perform varied assignments within established time limits
Intermediate problem-solving skills
Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities
Inquisitive, agile, and strong team player with excellent written, verbal, and interpersonal communication skills
Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook

Responsibilities

Process pension benefit payments and maintain accurate pension records
Complete OFAC screening, initiate ACH files to ensure that checks are distributed appropriately and create necessary entries to the Trust system for processing
Facilitate the proper funding for the payments and set up for payee information
Perform timely and accurate reconciliation and payment of withholding taxes to both federal and individual state agencies
Monitor tax liability to ensure accurate and timely withholding, reporting and payment in accordance with established procedures and regulatory requirements
Remit payments based on set schedules which include daily, weekly, monthly, and annual time limits and associated reporting requirements
Interact with Institutional Administrators and communicate with pensioners to assist and resolve issues or concerns
Perform other duties as assigned