Operations Associate I - IRA Specialist

Your Role:

The Operations Associate I - IRA Specialist will ensure timeliness and accuracy of IRA Tax statements, required annual IRA notifications, and other IRA processing and reporting such as contributions and distributions oversight. Knowledge of the IRA Publications 590-A and B are valuable for this position. A CIP (Certified IRA Professional), CISP (Certified IRA Securities Professional) or equivalent designation is a plus. The IRA specialist will work closely with the Global Tax Manager on several initiatives. A knowledge of retail tax statements, new accounts, monthly customer statements, and escheatment are a plus.

Qualifications:

• Knowledge of IRA documents/prototypes
• Experience with IRA Tax Reporting Forms
• Knowledge of IRA portability rules
• Working knowledge of IRA Transfer and Rollover processing and documents
• Understanding of IRA types
• Working knowledge of contribution deadlines
• Familiar with Prohibited transactions within an IRA
• Familiar with domestic retail and foreign account tax withholding and reporting
• Familiar with Escheatment processing and reporting
• Familiar with IRS Liens and Levies
• Familiar with monthly customer account statements
• FINRA Series 7 or 99 or the ability to obtain these licenses is a plus

Duties:

• Ledgie and ETC portal navigation
• Customer support for IRA related issues
• Audit of IRA account books and record activity versus the year to date tax statement which includes:
  • Review of the appropriate reportable contribution and/or distribution codes
  • Review of the cash transactions
  • Review of stock movements
  • Fair Market Value audit
  • Calculation of RMD upon customer request
  • Aide in potential testing as needed for future code versions
• As necessary, coordinate with the Cashiering Department for use of IRA distribution/contribution codes
• Review of Excess Contributions for courtesy customer reporting
• Communicate and coordinate any necessary data corrections or tax document corrections with ETC.
• Process and report escheatment assets for unclaimed property
• Process IRS Liens and Levies
• Preliminary and post monthly customer statement testing
• Assist New Accounts as needed
• Assist with additional operations duties as needed.