Florence Savings Bank
IRA Specialist
Florence Savings Bank, Northampton, Massachusetts, us, 01061
Florence Savings Bank - IRA Specialist
Location: Florence, MassachusettsPosition Type:
Regular Full-Time HourlyRequisition ID:
1605At Florence Bank, we offer:Competitive salaryHybrid work schedule after successfully completing 6 months of employment and maintaining certification as a Certified IRA Services ProfessionalGenerous paid time off including 12 paid holidaysDynamic work culture and fun work environmentWeekly pay scheduleMedical, dental, and life insurance upon hire401K plan with dollar-for-dollar matchProfit sharing bonus after two full calendar years of employmentRobust wellness program with monetary incentives$5,000 tuition reimbursement each calendar yearPosition Summary:The IRA Specialist performs all support functions of the IRA process for the organization. Responsible for maintaining all IRA accounts; keeps abreast of all IRA regulations; and provides IRA training and assistance to customers and staff. Acts as a liaison between Deposit Operations and Retail Division. Performs and supports daily duties in accordance with Florence Bank's policies and procedures. Protects the Bank's interests in matters of adequate documentation and adherence to policies and procedures.All employees handling customer accounts and transactions have a duty to report apparent suspicious activity and OFAC matches to the BSA Officer and the Security Officer.Essential Functions:Consistently provides superior professional service to internal and external customers.Meets expectations of teamwork, punctuality, and regular, reliable attendance.Serves as a resource regarding IRA policies/procedures and regulations, including staff training and procedure writing.Acts as a liaison to the Retail Division regarding policies, procedures, and regulations to ensure quality customer service.Attends Retail Ops monthly meetings.Becomes and maintains certification as a Certified IRA Services Professional.Maintains working relationship with key vendors such as COCC and Superior.Understands and monitors legislative acts regarding IRAs.Serves as subject matter expert for areas including, but not limited to contributions, distributions, RMD calculations, beneficiary distributions, required reporting, and IRS penalties.Handles all complex IRA accounts including establishing new accounts and processing transactions.Responsible for assisting staff with IRA opening and setup questions as well as troubleshooting any IRA issues that may arise.Responsible for all IRA transfer/rollover requests and verification of IRA coding and setup.Responsible for corrections for IRS reporting and year-end processing and reporting including, but not limited to 1099Rs, 5498s and IRA statements.Works with Management to develop operational strategies, policies & critical measurements.Provides documentation for audits and Bank examinations.Maintains records in accordance with the Record Retention Schedule.Serves on project teams as needed.Minimum Requirements:High school diploma or GED required.Three to five years of experience in banking preferred.Maintain status as a Certified IRA Specialist.Knowledge of compliance as it relates to Reg CC, Reg D, Reg E, Reg O, BSA, OFAC, and USA Patriot Act.Demonstrated proficiency with personal computers, utilizing Word, Excel, and Database applications for preparing spreadsheets, correspondence, reports, etc.Demonstrated ability to analyze complex data and develop means to present information to management.Ability to utilize various internal and external resources to obtain information for preparation of management reports, presentations, policies.Strong verbal and written communication skills.Demonstrated ability to work independently.
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Location: Florence, MassachusettsPosition Type:
Regular Full-Time HourlyRequisition ID:
1605At Florence Bank, we offer:Competitive salaryHybrid work schedule after successfully completing 6 months of employment and maintaining certification as a Certified IRA Services ProfessionalGenerous paid time off including 12 paid holidaysDynamic work culture and fun work environmentWeekly pay scheduleMedical, dental, and life insurance upon hire401K plan with dollar-for-dollar matchProfit sharing bonus after two full calendar years of employmentRobust wellness program with monetary incentives$5,000 tuition reimbursement each calendar yearPosition Summary:The IRA Specialist performs all support functions of the IRA process for the organization. Responsible for maintaining all IRA accounts; keeps abreast of all IRA regulations; and provides IRA training and assistance to customers and staff. Acts as a liaison between Deposit Operations and Retail Division. Performs and supports daily duties in accordance with Florence Bank's policies and procedures. Protects the Bank's interests in matters of adequate documentation and adherence to policies and procedures.All employees handling customer accounts and transactions have a duty to report apparent suspicious activity and OFAC matches to the BSA Officer and the Security Officer.Essential Functions:Consistently provides superior professional service to internal and external customers.Meets expectations of teamwork, punctuality, and regular, reliable attendance.Serves as a resource regarding IRA policies/procedures and regulations, including staff training and procedure writing.Acts as a liaison to the Retail Division regarding policies, procedures, and regulations to ensure quality customer service.Attends Retail Ops monthly meetings.Becomes and maintains certification as a Certified IRA Services Professional.Maintains working relationship with key vendors such as COCC and Superior.Understands and monitors legislative acts regarding IRAs.Serves as subject matter expert for areas including, but not limited to contributions, distributions, RMD calculations, beneficiary distributions, required reporting, and IRS penalties.Handles all complex IRA accounts including establishing new accounts and processing transactions.Responsible for assisting staff with IRA opening and setup questions as well as troubleshooting any IRA issues that may arise.Responsible for all IRA transfer/rollover requests and verification of IRA coding and setup.Responsible for corrections for IRS reporting and year-end processing and reporting including, but not limited to 1099Rs, 5498s and IRA statements.Works with Management to develop operational strategies, policies & critical measurements.Provides documentation for audits and Bank examinations.Maintains records in accordance with the Record Retention Schedule.Serves on project teams as needed.Minimum Requirements:High school diploma or GED required.Three to five years of experience in banking preferred.Maintain status as a Certified IRA Specialist.Knowledge of compliance as it relates to Reg CC, Reg D, Reg E, Reg O, BSA, OFAC, and USA Patriot Act.Demonstrated proficiency with personal computers, utilizing Word, Excel, and Database applications for preparing spreadsheets, correspondence, reports, etc.Demonstrated ability to analyze complex data and develop means to present information to management.Ability to utilize various internal and external resources to obtain information for preparation of management reports, presentations, policies.Strong verbal and written communication skills.Demonstrated ability to work independently.
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