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JOB FUNCTION / SUMMARY:
Responsible for performing and monitoring all functions associated with processing the bank's CD/IRA portfolio and ensuring that all regulatory, compliance, and control requirements are adhered to as per the bank's policies and procedures.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Processes CD/IRA account maintenance, transfers, distributions and closures according to government regulations and company policies
Accurately process and balance all debit and credit transactions daily to the general ledger
Monitors opening and closing of accounts, account distributions and rollovers
Monitors customer accounts for over-contribution and early distributions in order to adhere to federal regulations
Inputs all educational IRA's and beneficiary accounts to the bank's core application
Monitors all beneficiary accounts to ensure adherence to the state and federal rules and regulations
Performs mandatory distributions that have reached the appropriate age as determined by the current Life Expectancy Tables
Researches complex transactions to resolve customer questions or disputes
Calculates and performs interest rate adjustments
Reviews year-end IRA Statements of Condition and tax reporting documentation for accuracy, making necessary corrections before mailing to the customer
Performs required tests of SOX 404 control activities and provides documentation to and participates in ongoing reviews with the Internal Controls Group
Performs account research to satisfy subpoenas
Provides assistance and training aids to Branch Solutions and Retail Branches
Performs Stop Payment/re-issue of interest/distribution checks
Conducts new associate training within CD/IRA Service Area
Assists systems analyst with conversions and application upgrades
Manages all escalation requests; assists with volume, as needed
Assists management in monitoring team attendance; notifies management when occurrence threshold is exceeded
All other duties/special projects as assigned
Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act.
SUPERVISORY RESPONSIBILITIES:
None
MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:
High School Diploma or GED; Associate's Degree preferred
3 years of experience in the CD/IRA Assistant position or similar type work
Exhibits strong verbal and written communication skills
Knowledge of current Exception Items processing system (DSS Trips) requirement in order to correctly perform return item decisions / entries. Close attention to detail is critical
Proficient operation of Microsoft Office Products such as Outlook, Word, Excel (intermediate level),
Excellent verbal and written communication skills in order to communicate effectively with customers and bank personnel
Must be able to establish and maintain a high level of credibility with all levels of internal and external customers
Detail oriented
Excellent organizational and planning skills
Ability to formulate sound conclusions and recommend optimal course of action based on analysis
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:
Ability to work under stress and meet deadlines
Ability to operate a keyboard if required to perform the essential job functions
Ability to read and interpret a document if required to perform the essential job functions
Ability to travel if required to perform the essential job functions
Ability to lift/move/carry approximately 5 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.