GENERAL FUNCTION: Support and maintain the Operational and Risk needs of the IRA/CD Operations Banking division, including processing, storage, and retrieval of IRA/CD support records/documents in Depositor Services. Duties include but are not limited tofiling, research, quality analysis of IRA/CD documents and customer account maintenance andperforming of other operational duties. This position will also assist with basic reports, IRA file audits, returned mail, cross-training and is responsible forproviding quality customer service for the distribution of mail and all related incomingcompliance documentation.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensuresthatactions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Ensure quality of all requests submitted to ensure accuracy and appropriate documentation is provided for IRA/CD team.
Review and validate various required IRS documentation for IRA transactions are received and completed accurately for customer accounts.
Audit IRA files and documents to insure accuracy and appropriate documentation is present and completed using multiple systems in accordance with IRS Regulations.
Responsible for the coordination, update, retrieval and tracking of all IRA documentation and signature cards stored off site leveraging vendor system to accurately manage inventory.
Ensure materials/documents are organized and properly labeled at all times in various storage vaults.
Perform risk based transactions on behalf of the banking center (penalty exceptions, death payouts).
Perform miscellaneous maintenance functions as needed such as address changes or beneficiary changes.
Review return mail and verify information in the various systems to determine necessary updates.
Assist with the research to identify status of IRA owner and named beneficiaries for distribution purposes.
Sorts and distributes depositor services incoming mail as well as prepares outgoing mail, overnight packages, and other correspondence according to deadlines.
Determines method of shipment utilizing extensive knowledge of shipping procedures, routes and rates.
Responsible for tracking and delivery of all presort, certified, registered, and overnight (express) mail.
Coordinate and direct the training/cross training of team members to perform necessary functions to meet department production and quality standards.
Basic understanding of IRS regulations and reporting requirements in accordance with IRC section 408 and the related IRS publications
Assist management with special projects as assigned providing necessary reports/updates of progression.
Facilitate or participate in assigned projects and perform any other duties as assigned.
SUPERVISORY RESPONSIBILITIES: None.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Associates degree or equivalent preferred.
Two years minimum Operational or Retail experience preferred.
Knowledge of retail policies, procedures and products.
Strong verbal and written communication skills.
Basic PC knowledge to include Word & Excel, and working knowledge of the internal systems, such as Raft, ACE, Mobius, IHUB.
Ability to multi-task.
Need to have flexibility in scheduling.
Must be able to work in a team environment with the ability to interact well, and in a positive manner, with co-workers and management.
Fifth Third Bank